Aaron Morgan’s website, currently at precis.azurewebsites.net, allows investors to upload their loan information, exported from Harmoney's website.

The graph displays the loans in an easy to understand way and investors can filter loans by status.

Morgan said it was part of a larger plan that would soon allow investors to map out loans by region and work out any repayment trends.

“I’m thinking a map of New Zealand down to the regions so you can see your loans and defaults by region against all the other loans Harmoney has. If you know Southland, for instance, has a higher default rate you might not bother getting loans from Southland. It’s something platforms do in the United States.”

He is also developing a function that would send automatic notifications to investors when a loan was available that met their criteria.

Morgan said he was already getting four or five statements uploaded to the site per day, even though it has not been promoted anywhere.

He said many investors were worried about the number of write-offs and rewrites they were seeing of Harmoney loans and wanted to better understand their investments.

“What this lets them see quickly is how many have been rewritten and the arrears. Harmoney has a table that shows arrears but I’m more of a visual person.”

Morgan said the information available from Harmoney itself was good but the way it was presented did not suit all investors. “It does start to get unwieldy. If you have hundreds or thousands [of loans], it’s tricky to go through all the data to work out what it all means but you can upload it to the site to interpret it.”