Today, over half of British adults don’t think their main bank has their best interests at heart. The banking industry is well overdue a change, and we want to be the company to make this happen.
13 years ago, a small group of people got together and decided to create a business that was built on the idea that access to financial products should be simple, fair and transparent. Whether this was getting a competitive, easy to understand loan or being able to get a better return on your investment – Zopa was born to make the financial world a bit more fair and transparent.
Nearly £4bn worth of peer-to-peer (P2P) loans and 400,000 customers later, our ethos hasn’t changed.
But what has changed is that we now have our very own bank to sit alongside our P2P business. A bank that will allow us to help more customers get a better deal in more areas of their financial lives, so they can feel good about money again.
Unveiling Zopa the Feelgood Money™ company
Back in 2016 we announced that we had applied for a banking licence. Over the last two years we’ve been working behind the scenes to build a bank which makes customers feel good about their money. There won’t be any catches like hidden charges for early repayment or better deals for new customers. Instead there’ll be handy tools to help customers get stuff done and helpful humans at the end of the phone to make managing money easy and understandable. And because we have built our bank with some of our own proprietary technology, we can change and adapt to meet customer’s needs as intuitively as possible.
In 2019, we will be unveiling some great new products which include FSCS protected fixed term savings, credit cards which put customers in control, and a money management app so that you can see all your bank accounts in one place.
We are now in a period called AWR (authorisation with restrictions) where we have to meet the conditions set by the regulator including testing and demonstrating that our newly built products work as we expect them to. We will start the testing with Zopians first and would welcome existing customers in the near future. If you want to be the first to know about these products and have a chance to test them, sign up here.
Turning money frowns upside down
While we wait for our new products to launch, we thought we would make a start on things by making money itself a bit more feel good. What’s with all the downcast faces?
We worked with some really talented artists to put a smile on the oh-so familiar faces of the UK’s notes. Check out the designs below. Let’s hope the Bank of England likes them as much as we do so the feel good can really start to spread.
We want to say a huge thanks to the very first customers back in 2005 and all the customers since
Without our customers, the launch of the bank and our commitment to becoming the FeelGood Money™ company would not have been possible. To you all, we thank you so much. We can’t wait to show you what’s next.
Want to know more? Check out this video from our CEO, Jaidev Janardana.
Sarah’s Real Money Story: a tale of two relationships
Zopa customer Sarah shares what she’s learned from the two very different relationships that have shaped her Real Money Story