Consumer Lending: Zopa

Consumer Lending: Zopa
Jaidev Janardana, CEO, Zopa

The success of the P2P industry can partly be attributed to being in the right place at the right time and partly to government support, Mr. Janardana said. The UK is the right place to be working in P2P lending right now, he noted, and the trends in the industry are positive: Consumer lending had been declining for five years, and now it is starting to grow. An even more positive trend is that consumers’ default rates have reached a low.

Four factors make winning firms successful, Mr. Janardana said: accurate assessment of credit risk, approach to data analysis within the company, network effects produced by scale and a customer centric attitude. He concluded his presentation with the announcement that Nigel Morris, co-founder of Capital One, would be joining Zopa’s Board of Directors.