Transforming
a peer-to-peer loans business into a
customer-led bank

 
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Zopa

 
 

61%

Revenues have increased under Jaidev’s leadership


01

Banking licence approved in December 2018


 

“Albion helped us create a brand positioning that we hope will support our growth as we add a bank alongside our peer-to-peer loans business”

Jaidev Janardana,
CEO, Zopa

 

Zopa invented peer-to-peer lending in 2005. But as this innovation drew strong competitors into their market, they quickly realised they couldn’t survive as a niche product for early-adopters.

Zopa also understood that whilst the business had a strong culture, they hadn’t yet translated this into a distinctive and clear positioning that would catapult them from the fringes of fintech to becoming a mainstream consumer brand.

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Meanwhile, newly appointed CEO, Jaidev Janardana had set about finding ways to unlock growth and manoeuvre the business into a position where it could apply for a banking licence.

 

Over the course of a two and a half year relationship, we helped Jaidev and his senior team understand and test different trajectories for the business, before translating the agreed vision into a new positioning, brand identity, and suite of digital products and services.

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The cross-functional client-agency team we built worked at pace to rebuild the highly optimised data-driven current business whilst in parallel prototyping the products that would form the backbone of the future banking model.

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In December 2018 Zopa became the first business of its kind to be awarded a full UK banking licence.