Saturday, April 5, 2008

Zopa named 'Most Threatening Non-bank'

At the 2008 Retail Banker International Forum, Zopa won the 'Most Threatening Non-bank Competitor.' Others nominated in the category included PayPal, Wal-Mart, Vodafone and Prosper. Zopa COO Douglas Doulton said, "This is a very gratifying award to win, especially ahead of such big brands and one of our social lending competitors in the USA."

Despite earning the bank threatening label, Zopa invited corporation from banks in their awards speech. As reported on their blog:

"While we were delighted to be considered threatening by the banking industry I doubted whether too many in the room actually felt too threatened, perhaps more intrigued. I considered that if we were to be a threat it wouldn’t be because we were explicitly anti-bank, more that we were pro-consumer. Indeed if any of the banks would like to work with us in that pro-consumer mission we would be delighted to welcome them."

Promptly after winning the award, they lost it. According to the account on their blog, "...a thoroughly good time was had by all, or at least by me anyway - which can be evidenced by the fact that at some stage of the night that followed, at some venue in W1, I managed to lose our precious (and very tasteful) glass award. Oh dear, better take a look oneBay…"

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