SAN JOSE, Calif.--(BUSINESS WIRE)--Today at the FinovateSpring showcase of financial technology innovations, LendingRobot announced updates to its cloud-based service for investors in peer-to-peer lending, including support of Prosper Marketplace, and the availability of over 40 different filtering criteria that can be used to invest in multiple loan profiles at once.
LendingRobot allows investors to define and automate their peer lending investment strategies. Users specify the type of loans they want to invest in, using their own criteria or based on LendingRobot recommendations. Once linked to their Lending Club and/or Prosper accounts, LendingRobot constantly watches for new loans and analyzes their characteristics as they appear. Orders are automatically placed for loans matching investor criteria immediately after they are made available.
Automation through LendingRobot saves investors time, simplifies the process of building a diversified portfolio, and ensures idle cash is continuously reinvested. LendingRobot lets investors manage several accounts in one place. Support for a cascading set of rules enables LendingRobot to also adapt to the supply of loans available.
"Peer lending can provide superior returns with surprisingly low risk, but it can be challenging to identify the right securities, invest fast enough to fund the most popular loans, and keep accounts fully invested and diversified,” said Emmanuel Marot, co-founder and president of LendingRobot. "By automating the entire process LendingRobot brings peace of mind, simplifies the investing process, and helps increase returns by continuously investing idle cash.”
LendingRobot now offers:
- Support for multiple Lending Club and Prosper Marketplace accounts
- Over 40 different Lending Club and Prosper filtering criteria
- Cascading rules to invest in multiple loan profiles at once
- The “popularity” criterion that allows individuals to automatically invest alongside professionals
- Proprietary criteria, such as Sub-grade and Loan Payment / Income
- Daily e-mail reports
- Investment orders processing within seconds
- 24x7 availability
Tapping into a Booming Peer Lending Market
Peer lending connects borrowers and lenders over the Internet. With significantly lower expenses than traditional banks, peer lending can offer both lower rates to borrowers and higher return for lenders. The peer lending market is experiencing explosive growth, with the volume of loans issued doubling roughly every nine months. Over $4 billion in loans have been issued, yet this represents only 0.2% of the overall consumer credit market. As little as $25 can be invested in each loan, enabling investors to lower risk by diversifying their portfolios across hundreds of different loans.
Investing in peer lending, however, is time consuming. Hundreds of new loans are made available to investors several times per day. LendingRobot's founders originally developed the service to save time while making their personal investments. After an enthusiastic response from other investors, LendingRobot was turned into a commercial service to offer individual investors in peer lending the kind of tools traditionally only available to institutional investors.
In addition to its premium service, LendingRobot offers several data services which offer new investment insights. For instance, its ‘Latest Loans’ section shows the loans recently made available by Lending Club or Prosper, with their popularity amongst investors. LendingRobot today also released an infographic, “7 Surprising Facts about Peer Lending,” available at https://www.LendingRobot.com/7FactsAboutPeerLending, to educate the public about the growing peer lending market.
About LendingRobot
LendingRobot is a cloud-based financial service and SEC Registered Investment Advisor providing investment automation for the peer lending market. Based in Seattle, LendingRobot is available to any investor investing as little as $500.00 or as much as $500,000.00, without setup fees, exit fees or monthly minimum costs. Sign up at www.lendingrobot.com and follow LendingRobot on Twitter @LendingRobot.
Lending Club is a registered trademark of Lending Club Inc.
Prosper is a registered trademark of Prosper Funding LLC.
LendingRobot is a trademark of Algorithmic, Inc. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.
