• Zopa, the UK P2P lending company, secures bank license

    8 days ago - By Tech Crunch

    Zopa , the U.K. peer-to-peer lending company that wants to become a bank, has been awarded a bank license by the U.K.'s financial regulators, the Financial Conduct Authority and Prudential Regulation Authority. The company wants to expand beyond P2P loans and investments to offer things liked savings accounts and credit cards.
    Technically, however, this is only regulatory part one and Zopa's bank licence comes “with restrictions,” meaning that it can't launch fully just yet. Known as the ‘mobilisation' phase of the license process, Zopa should eventually be granted a full licence once it...
    Read more ...