What is the problem with Zopa?

Zopa said the problems were caused by “unexpected system interruptions after resilience testing”. Initially some credit card customers were also affected, and 2,000 transactions were declined, but that has also been resolved.

Are Zopa protected?

Money you save with Zopa is safe as it’s protected by the Financial Services Compensation Scheme (FSCS) up to a total of £85,000 across all your savings accounts with us.

Who runs Zopa?

Jaidev Janardana
Jaidev Janardana, CEO of peer-to-peer lender Zopa. LONDON — British online lending start-up Zopa has raised $300 million in a funding round led by SoftBank, adding to the soaring investment flowing into Europe’s booming financial technology sector.

Is Zopa real?

Zopa is a British financial services company which offers deposit accounts and credit cards. It began as the world’s first peer-to-peer lending company in 2005 and gained a full banking licence in 2020. The peer-to-peer side of its business closed in December 2021. Ltd.

Why is Zopa closing?

Financial services firm Zopa has announced the closure of its investor accounts as it officially pulls out of the P2P (peer-to-peer) lending market. The decision was based on a ‘lack of customer trust in P2P investments’ as well as cost concerns.

Is Zopa FCA protected?

As a licensed UK bank, the savings you have with us are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000, even if you have savings elsewhere.

How many customers does Zopa?

Zopa currently serves half a million customers. Since acquiring its full banking licence in June 2020, it has attracted more than £600m in customer deposits for its fixed term savings accounts, issued 130,000 of its British Bank Award-winning credit cards, and became a top 10 credit card issuer.

Is Zopa a broker?

Zopa acts as an online broker between borrowers and individuals willing to offer loans.

Is Zopa regulated by FCA?

Zopa is regulated by the FCA. The FCA takes responsibility for regulating the conduct of financial services firms and markets.

What does Zopa stand for?

The Zone of Possible Agreement
The Zone of Possible Agreement, or ZOPA, is the range in a negotiation in which two or more parties can find common ground. Here, the negotiating parties can work toward a common goal and reach a potential agreement that incorporates at least some of the other’s ideas.