The world's first P2P lending service, Zopa, has partnered with Metro Bank to provide additional funds for lending purposes within the platform. This partnership allows consumers and both brands to effectively receive benefits and create an enhanced marketplace with ample financial options.
This new alliance between Zopa and Metro will help to fill any vacancies that might come up to help the lending service expand. P2P lending is showing signs of being a more approachable option for consumers in the open marketplace, but as the market expands the need for corporate partnerships increases.
The Zopa and Metro bank partnership is explained by Mat Gazeley of Zopa: "This exciting development in the UK’s financial services industry is the first partnership between a UK P2P platform and a retail bank. The move will see Metro Bank receive a return by lending millions of pounds each month directly to UK consumers through Zopa."