Inside the Metro Bank/Zopa Partnership
Inside the Metro Bank/Zopa partnership
Jaidev Janardana, CEO of Zopa, and Jonathan Kernkraut, Retail & Business Propositions Director, Metro Bank
Moderator Anthony Hilton, Evening Standard
Mr. Janardana of Zopa and Mr. Kernkraut of Metro Bank discussed their companies’ recently forged partnership, in which Zopa provides a borrower base and Metro Bank provides the lending capital. The partnership gives Metro Bank access to Zopa’s nationwide market and provides Zopa a steady capital source. Janardana and Kernkraut also talked about their companies’ business models and how the revenue from the partnership is split.
When asked why Metro Bank partnered with Zopa, Kernkraut said Zopa’s customer-focused strategy stood out. Although Zopa has a concentration limit for each funding source, the business with Metro Bank still has a lot of room to grow, the panelists said.