Today, the team at digital bank Zopa is “incredibly proud” to announce that their customers have trusted them with over £1 billion of their “hard-earned” savings.
In an update shared with Crowdfund Insider, Zopa‘s management noted that their award-winning Zopa Fixed Term Savings Account offers “a competitive rate up to 1.75% over 1-5 years at a time when rates are at a historic low.”
As explained in the announcement, the account may be “opened in as little as 7 minutes online and is fully protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.”
During the last 18 months, it has already “topped the savings tables 15 times, offering great value and an intuitive digital experience.”
The update from Zopa further noted that today’s (January 18, 2022) milestone is “a testament to our customer-centric approach to innovation that strives to deliver products that tackle real financial needs.”
Building the “best bank for saving and borrowing”
The team also revealed that they’ve launched Zopa bank 18 months ago “with the bold ambition to create the UK’s best bank for saving and borrowing.”
With their unique Fintech heritage and 16 years of lending experience, Zopa confirmed that they focus on “better meeting the financial needs of UK customers in sectors where they have traditionally been poorly served, while also delivering an experience that matches their expectations of a digital-first company.”
Since launching back in 2020, Zopa has reportedly “attracted £1 billion in deposits, more than £1 billion of loans on balance sheet, issued more than 200,000 credit cards becoming a top 5 credit card issuer in the UK, and tripled its revenue per customer.”
Zopa users rate its service “as excellent with 4.7 out of 5 on TrustPilot.” Zopa has been “voted the UK’s Best Personal Loan Provider 5 years in a row from the British Bank Awards.”
Over the next 12 months, Zopa said it will “plan to double [their] savings portfolio again to £2 billion, launch an Easy Access product, and continue to innovate at the intersection of embedded finance and lending.”