The world's first P2P lending service, Zopa, has partnered with Metro Bank to provide additional funds for lending purposes within the platform. This partnership allows consumers and both brands to effectively receive benefits and create an enhanced marketplace with ample financial options.
This new alliance between Zopa and Metro will help to fill any vacancies that might come up to help the lending service expand. P2P lending is showing signs of being a more approachable option for consumers in the open marketplace, but as the market expands the need for corporate partnerships increases.
The Zopa and Metro bank partnership is explained by Mat Gazeley of Zopa: "This exciting development in the UK’s financial services industry is the first partnership between a UK P2P platform and a retail bank. The move will see Metro Bank receive a return by lending millions of pounds each month directly to UK consumers through Zopa."
P2P Lender Bank Collaborations
The Zopa P2P Lending Platform Partnered with Metro Bank
Trend Themes
1. P2P Lender-bank Collaborations - Partnerships between peer-to-peer lending platforms and banks are becoming more common to provide additional funds for lending purposes and create an enhanced marketplace.
2. Expansion of P2P Lending Market - As the popularity of P2P lending increases, the need for corporate partnerships also increases to fill any vacancies and expand offerings.
3. Approachability of P2P Lending - P2P lending is becoming a more accessible option for consumers in the open marketplace.
Industry Implications
1. Financial Services - The financial services industry can leverage P2P lending platforms to expand their offerings and partner with banks to increase their lending capacity.
2. Retail Banking - Retail banks can partner with P2P lending platforms to increase their lending capacity and offer additional financial options to their customers.
3. Fintech - Fintech companies can disrupt the traditional financial services industry by providing P2P lending platforms that are accessible and easy to use.