A new(-ish) organization based in the UK called Zopa is allowing people to borrow and lend money from each other, entirely sidestepping banks. Because banks have huge overheads and are...

A new(-ish) organization based in the UK called Zopa is allowing people to borrow and lend money from each other, entirely sidestepping banks.  Because banks have huge overheads and are fundamentally in business to make money on your money, cutting them out all together allows social lending to give both lenders and borrowers better rates by eliminating the middle man and placing all transactions in an open marketplace, rather than behind closed doors.

The transparent system allows for both the lenders to see where their money is going and for borrowers to see where their money is coming from. 

BASIC MEMBER CONTENT
This content is available for Basic Members.
Already a member, log in