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It's not that far off one click already. I can set up Zopa to lend out money, then just transfer money with `1 click` from my current account.
by aembleton 11y ago
It's not that far off one click already. I can set up Zopa to lend out money, then just transfer money with `1 click` from my current account.
- notahacker 11y agoAgreed, transferring money to lending accounts is pretty easy anyway going by direct to the P2P provider. The wider issue here is that high street banks (or "challenger banks" marketing themselves as equivalent to high street banks) are subject to an awful lot more scrutiny around how they advise customers to handle their finances[1]. If your differentiator from other banks is encouraging your depositors to buy into a wider range of somewhat riskier alternative lending products outside your own control, then the same people that made a fortune from arguing consumers were missold PPI and mortgages are lining up to take shots at you if and when things go wrong... [1]considering the special privileges they get, that's the way it should be