What people are
saying about us
Money Magpie
Get 9.1% on your savings with Zopa
“Imagine being able to make an average of 9.1% on your savings in this financial
climate! That's what the people at Zopa are claiming their lenders made during 2008.
In fact, it is possible to make 12% as a Zopa lender if you're willing to lend to
riskier borrowers...”
The Yorkshire Post
It's a shoot-out for survival as high noon hits the High Street
“...Anticipating our deepening mistrust of the personal financial services
market, [Zopa] provides real value by matching people who would like to lend money
for a decent return with people who are looking for loans.”
The Telegraph
Ways to beat the rate cut and get and income of more than 5pc
“The Bank of England's move to cut interest rates to a 300-year low will bring
some much needed cheer to borrowers. But for savers and income seekers the landscape
is getting increasingly tough. There are still ways to generate an income on your
savings, however...”
The Independent
Bypass the credit jam and drive loan costs down
“This week new cars will roll off forecourts up and down the country as the
58 registration is introduced. And despite endless warnings about the dire effects
of the credit crunch, much of this spending will be financed through credit.”
Square Mile Magazine
A user-friendly alternative to doing business with your high street bank
“Then there is the transparency - lenders can see exactly who they are lending
to and what those borrowers are doing with the money. Reasons for borrowing have
ranged from publishing a sci-fi trilogy to IVF treatment, solar heating for a bungalow...
and lots of weddings.”
The Independent
In the zone: the online exchange where people become banks
“The popularity of Zopa, an online money exchange that aims to cut out the
middle man, continues to grow. It has just picked up an award for its internet technology
from specialist magazine The Banker, the irony of which is not lost on its creators,
who have spent the past two years positioning their enterprise as an alternative
to corporations.”
MSN Money
Cutting out the banks
“Many of us hate banks. They are big, inefficient and impersonal, they have
so many ways to charge us, yet we just can't seem to do without them. So is that
how it is always destined to be? Not according to Zopa...By cutting out the bank
middlemen and many of the overheads, borrowers get lower rates and lenders get higher
ones.”
IT Week
Web 2.0 Wealth Check
“New business models like Zopa show that the social computing information
revolution can take place in any industry.”
The Sunday Herald
Cut out the banks with lending the eBay way
“James Watson is a 31 year-old software analyst from Fife. He signed up to
Zopa a few months ago. 'I like the concept,' he says. 'It's a bit like lending
money to a friend or relative, because you can find out about the borrowers and
chat to them over the website. It's all so much more human and personal.”
The Guardian
Super Zopa
“When the online financial marketplace Zopa launched two years ago, it outlined
its ambition to become the eBay of the banking world. Many thought it might end
up simply being a flash in the pan. But Zopa – a financial 'exchange' where
people meet to lend and borrow money – has proved the doubters wrong.”
Investors Chronicle
Smart investors use the web
“Zopa brings money-making opportunities to the private investor which were
previously only open to institutions.”
BBC Breakfast (and BBC Click)
“The concept is called Social Lending and the idea is to introduce people who need money to people who want to borrow some – cutting out the middlemen like banks and mortgage companies. Zopa is a pioneer in this space. For the past two years it has allowed members to borrow and lend on their own terms.”
The Banker
Putting a face to the online banking revolution
“Online product developments such as the peer-to-peer banking innovation,
Zopa.com (online lending exchange), are radically changing the way financial transactions,
big and small, can be done. These technologies can disintermediate the traditional
bank role....The Zopa model, which cuts out the banks in the middle, can provide
better lending rates and a clear opportunity to revamp lending attitudes and mechanisms.”
Financial Adviser
“Because social lending schemes embrace the trends that are defining the current age, they are likely to become increasingly important.”
Money Week
A web-based way to bypass the banks
“At Money Week, we love the idea of Zopa. We like the idea of cutting out
the middleman and of helping people to help each other. And we like the basic claim
Zopa makes: borrowers get cheaper rates via Zopa than they would if they borrowed
from the banks, and lenders get higher rates than they would get if they saved via
the banks... Does that mean you should be using Zopa? If you are a lender, the
answer might well be yes (as) Zopa has much to recommend it.”
The Banker
Peer-to-peer lending strives to break the banking mould
“Rather like online auction market eBay, UK-based Zopa and its US counterpart
Prosper represent the phenomenon of internet-savvy people who want to dispense with
established intermediaries and their fees and like the idea of being part of a new
community.”
Mail on Sunday
Is lending £25,000 to a stranger a good idea?
“A growing dislike and distrust of banks – their hidden fees, extortionate
penalties and poor service – is driving many people to look elsewhere for
loans and savings. And Zopa, the world's first online lending and borrowing
exchange, is one of the biggest beneficiaries.”
Investment Adviser
Breaking New Ground
“Investors are always looking for new asset classes – especially those
deemed low risk. Enter Zopa, the self-styled eBay of personal finance, which is
wooing investors with promised returns of between 6 per cent and 14 per cent.”
The Banker
The brave new world of Web 2.0
“Many of those at the forefront of the Web 2.0 revolution claim that this
marks the true beginning of online banking – not just a potentially inert
online presence for an offline bank, but a complete virtual experience connecting
one consumer to another to conduct financial transactions such as mortgages and
small-business loans, all without the interference of middlemen: the banks. Take,
for example, the social lending model of such sites as Zopa...”
The Daily Telegraph
Lend to strangers at the click of a mouse
“Zopa allows people to beome DIY bankers online... With the average return
a healthy 6.8% before tax and after bad debt and fees, it is a tempting offer. Lenders
effectively tie up their cash for the period of the loan, which averages three years,
and bear the risk of defaults directly, but the top rates beat best buys on the
open market, such as Northern Rock's three-year bond, paying an APR of 6%.”
Working Lunch (on BBC 2)
“An ebay for money.”
BBC World Service
“Social lending is a new type of business. Banks have been lending for eons so these websites are breaking new ground.”
International Herald Tribune
Internet lenders could prove disruptive
“A website based in Britain, Zopa.com, and another in the United States, have
started businesses that connect individuals eager to borrow money to other people
willing to lend, offering both sides better interest rates than banks... Banking
analysts suggest that these hyper-efficient operations, with few employees and no
costly real estate, could force changes to established banks.”
The Sunday Times
Zooming Zopa
“When it launched I was as sceptical as any about the idea, but after two
years it clearly works.”
This is Money
Is Zopa a good investment?
“According to Barclays Capital's analysis of the historical performance
of asset classes, (lender returns at Zopa) are better than the annual return from
cash and gilts over the past 10 years, and have certainly been better than a saver
would have seen from bonds over the past two years.”
The Daily Mirror
Bank of You and Me
“Faceless banks charging huge interest rates and slapping on penalties at
the slightest excuse are encouraging growing numbers to seek alternatives. To fill
the gap, imaginative ideas such as Zopa, an internet-based business where people
borrow from one another, are starting to spring up.”
The Banker
Innovation: How to improve
“Banks are currently trying to figure out how to react to the community space
– known as Web 2.0 or internet-only sites that emphasise collaboration among
users – with new arrivals like Zopa providing a model, or perhaps a threat.“
The Scotsman
Zip to Zopa for the going rate
“Zopa offers a quick and easy benchmark for the best financial deals available.”
Easier Finance
Spring clean your finances – double the interest earned on your savings
“Those looking to knock their finances into better shape should explore Zopa
lending – a new alternative to savings that last year paid out more than double
the average deposit account, and more than the very best accounts available.“
Personal Computer World
Web could transform banking
“Banking is about to face the kind of social transformation credited to so-called
Web 2.0 services like MySpace and YouTube, according
to a new study. The reason is that that web facilitates a return to one of the oldest
forms of financial service, Social Lending... Social Lending has re-emerged in the
form of several online schemes such as UK-based Zopa, which allows members to borrow
money invested by others.”
Which?
Best ways to borrow
“Zopa is a novel idea and might be worth a look if you want to borrow or lend.”
Money Extra
Social Lending – the zone of probable agreement
“If you are a bit of an individualist, don't like the idea of always doing
business with big corporations, are the sort of person who shops on eBay and uses
the internet for social interaction, then you are just the sort of person who could
be in the market for Social Lending.
Bloomberg.com
Internet's free services start to bite at bankers
“In recent years the Internet has hammered the media industry... Banking may
well be next. The Internet hates middlemen, and bankers are quintessential intermediaries.
Take a look at some recent start-ups that threaten their trade. Last year, London-based
Zopa.com started a service that matches lenders and borrowers directly.”
Silicon.com
Big-bank confidence dented by social banking
“Social Lending uses the age-old concept of borrowing and lending money person-to-person,
which in the past has normally taken place in private between friends and family.
Sites like Zopa take Social Lending into the public domain, cutting out the banks
and stopping the bank manager getting fat at everyone else's expense.”
The Guardian
Internet lenders threaten banks
“The social networking phenomenon that has fuelled the rapid growth of websites
such as YouTube and MySpace could be about to threaten the dominance of the big
banks by transforming the way we borrow and save, according to a study published
today.”
TNT Magazine
Lend on me
“With the launch of Zopa, the world of credit and debt has taken a giant leap
into the internet age.”
The Independent
The five best new ideas for a modern money map
“Banks and insurance companies are not renowned for moving with the times
– more often than not, innovation is an alien concept. But that doesn't
mean the financial services industry doesn't occasionally come up with a new
idea. And the best ones could save – or make – you serious amounts of
money... Zopa.com is an internet site that gives people the opportunity to lend
to individual borrowers for their mutual benefit.”
Financial Adviser
Zopa to target personal debt with new asset class
“The concept of the service, which already has over 100,000 members, is to
tap into the most profitable sector of high street banking – personal debt.”
Motley Fool
Two high interest alternatives
“Despite the recent rise in interest rates, the table-topping savings accounts
haven't been jumbled around much. This isn't good as lack of competition
means no pressure for banks to provide a better service... If you're fed up
with relying on banks, here's one way to cut them out of your savings: lend
money to other individuals through the lending and borrowing exchange Zopa. OK,
this is perhaps more of an investment rather than a savings account, but it seems
like a pretty safe bet for most lenders.”
The Daily Express
Beware greedy lenders that punish good habits
“While the UK faces a growing personal debt problem, greedy lenders often
discourage customers from clearing debts quickly by imposing penalties for paying
off loans early... James Alexander of internet-based lending exchange Zopa is calling
on the Government to ban early-redemption penalties... Zopa lets you pay off your
debts at any time without penalty.”
CNN Money.com
(reproduced in Business 2.0)
Eleven technologies that'll change it all
“The innovation: peer-to-peer lending
The disrupted: traditional banks
Any industry making a huge profit margin off its customers is a good candidate for disruption. Banking is a classic case – just think of the 19 percent interest you pay on credit cards and the 2 percent you earn on your savings account. Zopa is closing the gap by using the Web to allow personal lending on a massive scale.”
The Daily Telegraph
Net Benefits of a Lending Revolution
Bill Gates described Richard Duvall as “one of the most dynamic people I've
ever met”. Duvall laughs: “I don't know if he says it about everyone
but it's something I'm happy to quote.” The accolade will do him no harm
as he builds up support for a personal finance website dubbed the eBay of lending.
Duvall, who previously led the team that created internet bank Egg, launched Zopa
in March 2005.”
Best Practice Magazine
Finance: Highly rated
“As an enterprising accountant looking at new borrowing or investment alternatives
for clients, consider peer-to-peer lending. In the UK, one company in particular
is bringing the concept of micro lending to the masses via its website, www.zopa.com,
bypassing traditional banks and providing a new asset class for retail investors.”
Metro
Cash points
“By spreading your money around, you limit the damage caused if any one investment
takes a dive. On the buffet are such things as shares, bank accounts, bonds and
National Savings. But now you can become part of a lending exchange. A website called
zopa.com lets you lend money through its online company”
This is money
Create your own bank
“The way High Street banks make their money is simple – charge borrowers
more than they pay out to savers. And judging by the record profits most of the
banks announced earlier this year, they do it very well. But a growing band of consumers
is fighting back, taking control of their own finances and setting themselves up
as their own mini-bank.”
Business week
Lots of Loans, But No Banks
“Finance co-ops have hit the Web, and they look like a good deal for borrowers
and lenders... One of the Web's most intriguing trends is the rise of peer-to-peer
lending communities such as London-based Zopa Ltd.”
The Times
Would you lend cash to a stranger?
“You may think the idea sounds crazy, but a growing number of people are lending
money over the internet – and they are receiving market-beating rates in the
process. In fact, the idea has proved so popular that the British internet company
that came up with the concept has decided to expand into the United States.”
Irish Times
Lending website banks on the eBay generation
“It caters for people who earn good money but not necessarily into their bank
account on the last Thursday of each month, and it allays the fears of those who
worry that their savings are being invested by the bank in a manner that they would
find unethical.”
TowerGroup
The Case for Peer-to-Peer Online Lending Exchanges
“Zopa... represents the aligning of many macro trends, such as the maturity
of the internet in terms of borrowers and commercial trust-based relationships.
Another trend is that technology is more afforbale, easier to use, rapidly evolving,
and sensitive to users' demands. The ‘virtual organization' is also
more acceptable today than it was years ago. And giant killers such as Google, EasyJet,
and other no-frills airlines are proliferating. Now financial institutions like
Zopa... are coming from nowhere to challenge the established order in what may be
the start of a new revolution.”
Forrester Research
Zopa shows that P2P lending can work
Peer-to-peer lending is here to stay. P2P lending may seem a novel concept, but
individual lending has a longer history than banking itself and is still common
in more traditional societies, particularly in Asia. Now that Zopa has proven that
an online lending marketplace has consumer appeal, we expect other firms will follow.”
The Sunday Express
Will Trusting the Net Pay Off for You?
“Zopa.com, just over a year old, has 63,000 people registered. The site has
been dubbed “the people's bank” and lets individuals lend money
to others.”
The Motley Fool
How I Opened My Own Bank
“Alas, the banks (and to a lesser degree, the building societies) have an
iron grip over lending to individuals in the UK, and that will never change, right?
Wrong – and to prove it, I set up my own bank earlier this year. What I did
was become a member of Zopa.....”
The Oldie
...and Mammon
“The basic attraction is that, by largely eliminating the middleman, both
participants enjoy significantly better rates than those normally on offer....Banks
are not yet shaking in their shoes. But they probably need to be aware that they
now have a serious do-it-yourself rival.”
Next... Some member stories

