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Peer2Peer Finance News | December 13, 2017

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Zopa partners with Saffron Building Society to widen borrower network

Zopa partners with Saffron Building Society to widen borrower network
Suzie Neuwirth

ZOPA has partnered with Saffron Building Society to give the latter’s customers access to Zopa loans.

The new tie-up, announced on Monday, means that consumers will be able apply for a peer-to-peer loan at any of Saffron Building Society’s 11 branches across Hertfordshire, Essex and Suffolk and via Saffron’s website.

“We’re delighted to be teaming up with Saffron Building Society and bringing our simple, flexible, and better value loans to even more people in the UK,” said Jaidev Janardana (pictured), chief executive of Zopa.

“The partnership is exciting for us as it brings together two customer-led businesses, as we continue on our mission of making money simple and fair for customers.”

Read more: Zopa’s revenues rocket thanks to rise in loan origination

“As a member focussed mutual building society we are always considering different ways to offer members and customers complementary services that enable them to do more with their money,” said Colin Field, chief executive of Saffron Building Society.

“The partnership with Zopa is an exciting addition to our financial planning product range and we are delighted to be working with such a progressive customer focussed business that offers real value to customers combined with a best in class customer experience.”

P2P lenders have been unveiling an increasing number of partnerships in recent months, as they look to boost loan origination and expand their customer base.

Last month, MarketInvoice teamed up with Veritas to offer working capital to the credit management firm’s network of small businesses, while Funding Circle unveiled a partnership with Just Eat in July.