19 April 2018
Visit https://aciworldwide.webex.com

Zopa bids to attract more borrowers with Saffron Building Society tie-up

02 October 2017  |  3951 views  |  0 20 pound note

P2P lender Zopa is to offer loans to customers of Saffron Building Society via 11 brick-and-mortar branches and online.

Zopa is looking to correct the imbalance between borrowers and lenders on the platform, which has facilitated over £800m in personal loans to UK consumers in the past 12 months. It recently closed to new lenders after being overwhelmed by people looking for a better return on their liquid assets during a time of historically low interest rates.

Colin Field, CEO of Saffron Building Society, says: “As a member focussed mutual Building Society we are always considering different ways to offer members and customers complementary services that enable them to do more with their money. The partnership with Zopa is an exciting addition to our financial planning product range.”

Last November, Zopa announced plans to launch its own next generation bank offering FSCS-protected deposit accounts for savers, a range of peer-to-peer investment products for investors, and personal loans, car finance, and credit cards for people looking to borrow. It has since raised £32 million in funding to help support the build-out of the company’s technology infrastructure and product range in preparation for the submission of its bank licence application later this year.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Credit scoring startup Aire raises $5m; wins Zopa deal

Credit scoring startup Aire raises $5m; wins Zopa deal

21 July 2017  |  11694 views  |  0 comments | 9 tweets | 8 linkedin
Zopa raises £32 million to support challenger bank build-out

Zopa raises £32 million to support challenger bank build-out

01 June 2017  |  7776 views  |  0 comments | 19 tweets | 9 linkedin
P2P pioneer Zopa applies for banking license

P2P pioneer Zopa applies for banking license

16 November 2016  |  7569 views  |  0 comments | 9 tweets | 11 linkedin
Pariti taps into Zopa API to help millennials pay off card debt

Pariti taps into Zopa API to help millennials pay off card debt

07 September 2016  |  6939 views  |  0 comments | 9 tweets | 2 linkedin
Zopa targets £500m valuation

Zopa targets £500m valuation

11 December 2015  |  6048 views  |  0 comments | 12 tweets | 4 linkedin
Zopa hits £1bn lending mark

Zopa hits £1bn lending mark

18 August 2015  |  6972 views  |  0 comments | 16 tweets | 9 linkedin
Metro Bank to offer consumer loans via Zopa

Metro Bank to offer consumer loans via Zopa

19 May 2015  |  11492 views  |  1 comments | 30 tweets | 23 linkedin
Uber and Zopa team on car loans for drivers

Uber and Zopa team on car loans for drivers

06 May 2015  |  9049 views  |  0 comments | 21 tweets | 13 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.nextgenbanking.co.ukVisit http://go.jumio.com/finextraAdVisit https://aciworldwide.webex.com

Top topics

Most viewed Most shared
hands typing furiouslyArtificial Intelligence for fraud detectio...
12725 views 0 | 10 tweets | 6 linkedin
Speculative interest in cryptocurrencies may have peaked - BarclaysSpeculative interest in cryptocurrencies m...
10669 views comments | 16 tweets | 11 linkedin
Competing in an increasingly competitive spaceCompeting in an increasingly competitive s...
10209 views comments | 1 tweets | 2 linkedin
Revolut launches spare change savings toolRevolut launches spare change savings tool
9106 views comments | 14 tweets | 19 linkedin

Featured job

Find your next job