Breaking News
Zopa Bank Amasses £5 Billion in Customer Deposits
Zopa Bank has surpassed £5 billion in customer deposits. The news comes just four years after getting its banking licence and four months after surpassing its previous £4 billion deposits milestone.
The achievement reflects the convenience, accessibility and competitive rates offered with Zopa Bank’s award-winning savings accounts.
Zopa Bank offers easy access, boosted pots (Smart Saver), fixed term savings, and ISA (Smart ISA) accounts that allow customers to choose the interest rate and access requirements that best suit their needs.
Customers can build a savings habit by setting up Zopa’s auto-save functionality, choosing a regular date and amount to automatically transfer into their primary Zopa savings pot. Zopa Bank’s Smart ISA has been a key driver in achieving the £5bn deposits mark, notably taking a significant percentage of the £12.3 billion of inflows into ISA accounts in April 2024.
This milestone comes after Zopa announced its first full year of profitability earlier this year. The bank now has 1.3 million users and continues to grow its customer base at 30% year-on-year.
In May, Zopa partnered with Octopus Energy to enter the renewable energy market with a specialised BNPL offering for solar panels EV chargers.
Zopa’s savings products have also won multiple awards in 2024, including:
- Best Savings App, Best Fixed Rate Cash ISA Provider, and Personal Savings Provider of the Year at the Moneynet Awards 2024
- Best App Based Savings Provider at MoneyComms 2024
- Highly Commended for Best Savings Provider at the British Bank Awards 2024
- Commended for App Only Savings Provider of the Year at the Moneyfacts Consumer Awards 2024
Companies In This Post
- YouLend and Intuit Team Up to Bring Embedded Capital to QuickBooks UK Customers Read more
- dLocal and Amway Partner to Strengthen Local Payments For Direct Selling Across Latin America Read more
- How Freedom Holding Corp Turned Technology Foundations into a Scalable Fintech Ecosystem | Freedom Holding Corp | The Fintech Show #161 Read more
- ComplyAdvantage Fintea Chats: Fighting Financial Crime in an Age of Faster, Smarter Criminals Read more
- ING: Why “Autonomous AI” Is Misunderstood Read more
YouLend and Intuit Team Up to Bring Embedded Capital to QuickBooks UK Customers
YouLend, the leading global embedded financing platform, and Intuit, the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, today announced that they will make working capital available to QuickBooks business customers across the UK. The collaboration sees YouLend being selected as a launch partner for Intuit UK’s new Capital Marketplace, which connects QuickBooks customers with partners for financing, lines of credit and alternative financing.
TNS Completes Acquisition of BT Radianz
Transaction Network Services (TNS) has completed its acquisition of BT’s Radianz business. The deal brings together two long-standing providers of financial markets connectivity and expands access, reach and service capability for institutions worldwide.
Teciem Launches With Significant Investment to Grow and Innovate Treasury and Capital Markets Software Solutions
Teciem launches today with a mission to grow and innovate across its proven portfolio of treasury and capital markets software solutions, putting customers’ evolving needs at the centre of everything it builds and delivers. The Apax Funds are committing to support the new company following the completion of the purchase of Finastra’s Treasury and Capital Markets division. The investment will allow Teciem to deepen its focus on product development while growing and nurturing expert talent across the business.
Yaspa Becomes Founding Member of UNLV’s AI Research Hub to Advance Responsible AI Adoption in the Gambling Industry
Yaspa, a leading fintech specializing in payments and identity solutions, today announces it has become a founding member of the newly launched AI Research Hub (AiR Hub) at the University of Nevada, Las Vegas (UNLV) International Gaming Institute (IGI). This collaboration underscores Yaspa’s commitment to integrating next-generation financial technology with academic research to foster a safer, more sustainable gambling environment.
Arcesium Acquires Limina to Deliver a Unified Front-to-Back Investment Platform
Arcesium, a leading global financial technology provider to the investment industry, today announces its acquisition of Stockholm-based portfolio and order management (P/OMS) systems provider, Limina, creating a full front-to-back operating platform tailored to the unique needs of asset managers, hedge funds and asset owners. Through the integration of Limina’s P/OMS with Arcesium’s middle- and back-office solutions, the combined offering will be designed to eliminate legacy fragmentation and connect siloed data, providing investment managers with the speed and insight they need to operate intelligently across asset classes and global markets.
Finastra Enhances Commercial Loan Origination with Cloud-Native LaserPro Evaluate
Finastra today announced the launch of LaserPro Evaluate, a modern, cloud-native solution designed to streamline commercial loan workflows
FICO and Tech Mahindra Partner to Accelerate AI-Driven Decisioning and Core Banking Transformation
FICO has entered a global partnership with Tech Mahindra to help BFSI organizations accelerate value creation through AI-powered decisioning and advanced analytics
YouLend and Intuit Team Up to Bring Embedded Capital to QuickBooks UK Customers
YouLend, the leading global embedded financing platform, and Intuit, the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, today announced that they will make working capital available to QuickBooks business customers across the UK. The collaboration sees YouLend being selected as a launch partner for Intuit UK’s new Capital Marketplace, which connects QuickBooks customers with partners for financing, lines of credit and alternative financing.
dLocal and Amway Partner to Strengthen Local Payments For Direct Selling Across Latin America
dLocal, the leading cross-border payment platform connecting global merchants to emerging markets, has partnered with Amway, the world’s largest direct selling company, to deliver reliable, locally optimized online payments across Latin America.
How Freedom Holding Corp Turned Technology Foundations into a Scalable Fintech Ecosystem | Freedom Holding Corp | The Fintech Show #161
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
ComplyAdvantage Fintea Chats: Fighting Financial Crime in an Age of Faster, Smarter Criminals
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
ING: Why “Autonomous AI” Is Misunderstood
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Money Sent to Romance Scammers Jumps 37 Percent in a Year, as TSB Warns Public of Victims Trapped in Relationships Spanning Months
TSB’s latest report into romance fraud shows that money sent to scammers jumped by 37 percent in a year
Sixfold Raises US$30 Million Series B to Build the AI Underwriter
Sixfold, the AI underwriting Insurtech trusted by global insurers, has raised US$30 million in Series B funding