Zopa is a peer-to-peer lending company based in London with a fundamental answer to traditional banks, with over 150,000 members, expanding by 2,500 members a month. Zopa matches people with cash to lend with those who want to take. Several of the people who set up Zopa were in included in the early stages of founding the online bank Egg. Zopa is active in UK, US and Italy with launch organized for Japan.
Zopa clone script is an open source online fintech script. Zopa clone is providing people easy to get together to lend and borrow money directly with each other,sidestepping the bank for a better deal with each other.
Strength and weakness of Zopa model
In theory there is little difference between bringing someone £2,000 on Zopa and buying a car for £2,000 on e-bay. In each case there is a buyer and a seller who are matched during a sale. In a model world, both come away from the deal feeling happy about the outcome. The challenge with Zopa is that the deal is based on a double parole:
1) The interest will be paid in full and on time for 30 or 50 months.
2) All the money will be returned by the end of the agreement.
How big could Zopa grow?
So how big could Zopa grow? Could Zopa become a senseful threat to traditional banks? It all depends on default rates over the next 18 months. If they reside low, despite the global economic crisis, despite rising unemployment and other pressures, then we can expect many more lenders to entrust some of their cash to the system.
Another project just appeared on Clone Daddy. Someone wants to build a “Zopa clone“. Here is the description:
“We are looking for Zopa clone. We want full design, programming and setup of the website and the underlying databases. The Zopa Clone must not be violating copyrights of zopa.
- Programming languages to be open source (e.g. PHP/mySQL)
- has the features and functionalities ofZopa Clone
- online payment gateway integrated
- Daily communication / update during website building is necessary (via email/msn/or PMB)
- Bidders please state clearly your delivery timeframe and link of demo. Thanks for bidding!”
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