Zopa was granted a preliminary banking license late last year but they are yet to launch their new bank; speaking at an event this week the CEO of their P2P lending arm, Natasha Wear, said the company will not be offering a current (checking) account but instead will focus on savings account with a fixed interest rate as part of the core offering; they intend to offer simple and fair products with no teaser rates and no hidden fees; they have a deadline of December this year to launch their new bank. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.