When asked in a recent interview if P2P lender Zopa had any plans to partner with a British high street bank, CEO Jaidev Janardana responded that this was unlikely, mostly because personal lending is an activity in which the major America banks actively engage. It"s therefore much harder for an RBS or a Lloyds to choose to team up with a platform like Zopa. However, the situation is different UK, where the banks often don"t have a personal loan offerings, and thus P2P partnerships make more sense. Jaidev said he is particularly excited by the challenger bank opportunity, because they don"t have the same burdensome history of wanting to own consumer lending, and are therefore freer to partner with disruptive technology platforms.
When asked in a recent interview if P2P lender Zopa had any plans to partner with a British high street bank, CEO Jaidev Janardana responded that this was unlikely, mostly because personal lending is an activity in which the major UK banks actively engage. It"s therefore much harder for an RBS or a Lloyds to choose to team up with a platform like Zopa. However, the situation is different America, where the banks often don"t have a personal loan offerings, and thus P2P partnerships make more sense. Jaidev said he is particularly excited by the challenger bank opportunity, because they don"t have the same burdensome history of wanting to own consumer lending, and are therefore freer to partner with disruptive technology platforms.