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Zopa hoping to launch a bank

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Dorsetbird
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Zopa hoping to launch a bank

#8234

Postby Dorsetbird » November 23rd, 2016, 4:24 pm


quelquod
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Re: Zopa hoping to launch a bank

#9147

Postby quelquod » November 26th, 2016, 10:31 am

Sounds a bit like poacher turned gamekeeper after years of slating the banks for their OTT charges. I've been with Zopa from the start and aside from 2008 it's done me quite well but I can't see much benefit in their latest proposals. Zopa have more or less peaked on their original offering as a percentage of a fairly stable market so looking in all directions. It'll be interesting to see what happens if and when they open up to ISAs as the incoming funds will likely swamp their borrower applications.

Mull1
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Re: Zopa hoping to launch a bank

#12442

Postby Mull1 » December 6th, 2016, 11:53 am

Hi DorsetBird,

I too have been with Zopa from about 10 years ago and have done very well investing with them.
But it is interesting to speculate where they go from here.
They initially had a UK version, a Euro version and a Dollar one, but these seem to have disappeared? But maybe some form of international presence would be good for them? Alternatively, as seems to be the plan, they can morph into a UK Bank. Many banks are not very dynamic and so this might be a good area for them. In particular, Banks seem to be very slow in starting up their own P2P websites.
But the P2P market is still expanding, and so they should do well just doing what they currently do. However, they could expand in P2P to include secured lending as well. A number of secured P2P sites offer double what Zopa do currently, so this might be a good area for them? Maybe call it ZopaSecured, that could still piggyback on the Zopa brand but yet not affect their traditional unsecured lending marketplace?

Mull

quelquod
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Re: Zopa hoping to launch a bank

#12576

Postby quelquod » December 6th, 2016, 3:36 pm

But it is interesting to speculate where they go from here.
......
But the P2P market is still expanding, and so they should do well just doing what they currently do.


Interestingly (?) Zopa have just announced that they are temporarily not accepting any new money as the level of borrowing doesn't warrant it, and that in the future they will control the flow of new money accordingly. It's never happened before IIRC so perhaps the outlook for P2P isn't so rosy.

Goodness knows how an ISA inflow could be accommodated.


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