Zopa is entering the digital banking sector just as online lending in the UK has hit a transformational point as new, stiffer regulations by the Financial Conduct Authority takes hold (in December). It has been predicted by some that the new rules would compel some of the smaller, less well operated, online lenders, to exit the sector clearing the way for well-established Fintech lenders to capture a greater share of the market. By becoming a digital bank, Zopa will be able to offer a whole host of new services but will also put the Fintech up against some hard-charging names in the digital banking sector.

https://www.crowdfundinsider.com/2019/07/149212-in-advance-of-full-banking-license-fintech-zopa-looks-to-raise-235-million/