Disintermediate Me! [ was Banking 2.0 ]

<ed.note>Updated Updated Update: MarketPlace on Prosper.com<ed.note>
BofA joins in. Update: why stop with banking when you can trade stocks free at Zecco. I’m waiting for the Mortgage and Healthcare Savings Account combo product offering to hit the holistic wealth market…

According to their web site, Zopa is coming to the U.S.

Podcast: Zopa Revisited





Also see http://www.ecommercetimes.com/story/LB7rECXSvkJjyO/Prosper-Marketplace-The-eBay-of-Loans.xhtml

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Mar 8, 2005 – Computer Business Review Online

The founders of Egg financial services have launched a revolutionary online marketplace for loans.
<ed.note>Let me know if you hear of any P2P stock exchange stories…</ed.note>

An online exchange called Zopa has been launched that enables members to borrow or lend up to GBP25,000 from peers rather than using a traditional bank or building society. Building on the eBay concept, the website is a market for lending which provides investors with higher returns and borrowers with preferential rates to those offered on the high street. However, the concept may be a tough sell.

Individuals can sign up to Zopa as either a borrower or a lender. On application, a borrower’s credit rating is checked with Equifax and Zopa undertakes anti-fraud checks. The borrower is then placed into one of two markets depending on their credit rating, one catering for applicants with a medium to good credit rating and one for individuals with a very good rating. The borrower then stipulates a rate at which they are prepared to borrow, the amount of the loan and the repayment period.