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New release details

Posted on 23 Nov 2006 by Zopa

Just a quick post to let you all know what’s coming up in the next few days. The release is ready to go, but we’re holding off while we’re expecting a large amount of PR coverage - it’s just too risky to put a new release live at such an important time for us.

So - what’s included?

My Zopa Today A new screen for lenders that will show you in one place where all your funds are at Zopa, how many borrowers you have, you current lending offers and any unfunded lending offers you have - think of it as your Zopa balance sheet. From this screen you can rename your lending offers (a new feature), choose to edit your lending offers and transfer funds.

This screen will be the centre of the new lending screens - and will have more functionality added to it over the coming months as we introduce the remaining screens.

New Quick Lend screen We want to make lending as simple and easy as possible - so we’ve redesigned the ‘Quick lend’ screen to help new lenders get to grips with Zopa and understand how it works.

The major innovation is a graphical indicator of how well your offer is priced across all markets against lenders offers, and borrowers matches. We think this will make it much easier for quick lenders to price in the Zopa - and get their money lent out at great rates quickly.

Capital Guarantee product for lenders This might be a couple of days later (We’re awaiting final regulatory clearence, but the system is all built) - but we’re delighted to be able to offer an insurance product for lenders that guarantees your money back - no matter what happens with bad debts.

We know this won’t appeal to all our lenders, but we think that the option of a totally secure Zopa (subject to a small insurance premium) will make Zopa attractive to a new segment of consumers - which will benefit all Zopa members.

That’s all the front end changes - there are also the usual pile of behind the scenes stuff to keep Zopa up and running - and I hope you think that they’re improvements that have been worth waiting for.

Please let us know your thoughts either here, or in the discussion forums.

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