The Bankwatch

Tracking the consumer evolution of financial services

Zopa, CEO Douglas H. Dolton – SNW Interview

Interview with Doug Dolton, CEO of Zopa, the social lending company with offices in UK, US, Italy, and Japan. He has some interesting thoughts, and bullish views on the scale that social finance will achieve over time.

Social Networking Watch: Zopa, CEO Douglas H. Dolton – SNW Interview

What is your long term vision? Where could you see Zopa and the industry being in 10 years time?

I honesty think that the efficiency, convenience and trust that you get with dealing with an entity like Zopa will become more and more attractive to people. I can see this will be a multi-billion dollar business. 10 years from now or so, we’re going to have quite a bit of interactive social finance activities taking place with unsecured consumer loans and who knows beyond where that could go. Transactions involving currency exchange, transactions involved car insurance – that’s another thought, where a group of people will come together and pool their resources to provide the first tier of losses associated with car insurance and then they will buy a blanket coverage to provide a full coverage to everybody. As time goes on, we will see more and more of this democratization of finance taking place with transactions well beyond simply unsecured consumer loans.

Written by Colin Henderson

July 26, 2008 at 21:15

Posted in Social Lending

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