After months of work, the next evolution of Nickel Steamroller (NSR) is here! We are pleased to announce Nickel Steamroller Premium (NSRP). NSRP is a fully-featured automated investment and portfolio management tool designed to work with all major US P2P investing platforms.
One Login, Every Account
From your single NSRP login you can manage numerous accounts from across platforms. The system was designed to be adaptable – seamlessly allowing a new module to be created to support new P2P platforms as they come into existence. Currently both Lending Club and Prosper are supported. NSRP does not rely on “screen scraping” to control your account. Instead, every feature available from Lending Club and Prosper’s APIs have been integrated into NSRP. This delivers a level of robustness investors need to ensure idle cash is minimized, and there are not errors during transactions.
Additionally, this means NSRP does not hold your money, or has access to checking account information. Your account stays yours, NSRP is a suite of powerful tools that interacts with your account via APIs.
NSRP has several built-in fault tolerant protection features to ensure your account never owns the same note twice. This new technology is called NoteLock. NoteLock will 1.) reference your existing portfolio 2.) place all notes you buy on the platform into an in-memory lock table 3.) record the transactions so they will never be considered in your execution plan again.
NSRP will monitor your portfolio daily, taking snapshots of vital data. This includes ROI, percentage of notes by status (charged off, default, grace, etc.) and account totals such as idle cash, pending and total. If you are custom to using the portfolio analysis tool on NSR, NSRP provides the same functionality and more. Additionally, you will never have to upload another CSV file, all your data is imported automatically.
Monitor cash levels
Every transaction on the system is logged, giving you insight into your investing strategy speed and volume.
Detailed transaction history
Automated investing is supported for both Lending Club and Prosper. The investment cycles run when both platforms publish their loans, giving investors the opportunity to reduce idle cash.
Auto invest plan configuration utility
NSRP provides 3rd party integration for risk models. Meaning, if you have your own model and you would like to automate it, you can use NSRP’s simple API integration. NSRP will automatically query your service endpoint for the loans you would like to buy and do the rest of work.
Fast… Really Fast
Recently, many investors have had issues investing with Lending Club and Prosper given the high-demand for notes. NSRP aims to be the fastest automated P2P investment platform in the world. Instead of processing investment orders in serial, NSRP does everything in a highly scalable parallel back-end. Imagine a single lane highway and you need to move 1,000 cars through it. This would be a serial approach to processing orders. NSRP is more like a 1,000 lane wide highway. Everyone gets a fair chance to buy a note.
With NSRP it will not be difficult to keep accounts as large as $500,000 to idle cash levels sub $25 using reasonably sized notes ($100 – $250) and filters.
NSRP sign-up will be available in a week, but only a limited number of investors will initially be accepted. The first investors to sign-up will receive a promotion plan that includes unlimited investing. Prosper investors will be able to start using NSRP immediately; however, Lending Club investors will experience a delay while their accounts are provisioned for API access (their API is still in beta). We’ll work with Lending Club investors to make this process as effortless as possible. NSRP will offer phone support during limited hours for customers that need help or have questions.