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Post by cautious on Nov 29, 2014 19:22:26 GMT
"RateSetters know size isn't everything,
but being the UK's largest P2P platform helps."
"Zopa is the UK's largest peer-to-peer lending service"
Both those above statements are pasted from the respective sites header page..............they can't both be right........can they  ?
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Post by davee39 on Nov 29, 2014 21:00:26 GMT
Of course they are are both right. Zopa has loaned more than any other platform since it was started (10 years ago). The younger RS lends more each week, but many RS loans are short term so it could be argued that it takes 6 x the volume of RS 6 monthly loans to equal a 3 year Zopa loan. Then again it is also argued that NHS spending has increased under this government, but that only includes bonuses.
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c88dnf
Member of DD Central
Posts: 364 
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Post by c88dnf on Nov 30, 2014 18:31:33 GMT
"RateSetters know size isn't everything,
but being the UK's largest P2P platform helps."
"Zopa is the UK's largest peer-to-peer lending service"
Both those above statements are pasted from the respective sites header page..............they can't both be right........can they ?
Yes, I've been amused by that over the past few months too, cautious! Zopa has made the most loans to date: £682 million vs. RS's £412 million, but... Zopa started several years before RS and RS has been growing much more quickly than Zopa over the past two years, outselling Zopa despite generally offering higher rates to investors. So, how much does each site actually have loaned out (as opposed to loaned out and now part or wholly repaid)? RS's number is clear: £256.7 million Zopa's? They're not saying, but they quote the Safeguard Fund as containing £5.1M which is estimated to cover expected defaults. Those defaults vary year-by-year, but in the past 5 years range between 1.41% and 2.59%. Thus the amount of money out on loan might be guesstimated at anything between £197M and £361M. All numbers correct only as of 18.30 on November 30th, 2014!
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Post by westonkevRS on Nov 30, 2014 20:01:23 GMT
"RateSetters know size isn't everything,
but being the UK's largest P2P platform helps."
"Zopa is the UK's largest peer-to-peer lending service"
Both those above statements are pasted from the respective sites header page..............they can't both be right........can they ?
RS's number is clear: £256.7 million It's all about transparency....
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sl75
Posts: 2,092
Likes: 1,245
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Post by sl75 on Nov 30, 2014 21:03:42 GMT
Zopa's? They're not saying, but they quote the Safeguard Fund as containing £5.1M which is estimated to cover expected defaults. Those defaults vary year-by-year, but in the past 5 years range between 1.41% and 2.59%. Thus the amount of money out on loan might be guesstimated at anything between £197M and £361M. Plus the amount of loans that are not protected by Safeguard, including C and Y loans, the handful of remaining Listings, and any A*-B loans that haven't changed hands since Safeguard was introduced. For my own Zopa account, for example, less than half the outstanding loans I'm holding are covered by Safeguard. Unless there's another major change of policy / lending model, the non-Safeguard loans will become irrelevant over time... but perhaps RateSetter will have clearly overtaken Zopa on other measures by then? ... or indeed, maybe another yet-to-launch P2P site with further innovations to make a more efficient model may overtake both of them!
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Post by westonkevRS on Dec 1, 2014 6:22:09 GMT
Zopa's? They're not saying, but they quote the Safeguard Fund as containing £5.1M which is estimated to cover expected defaults. Those defaults vary year-by-year, but in the past 5 years range between 1.41% and 2.59%. Thus the amount of money out on loan might be guesstimated at anything between £197M and £361M. .... or indeed, maybe another yet-to-launch P2P site with further innovations to make a more efficient model may overtake both of them! Indeed. Perhaps Zopa is FriendsReunited, RateSetter is MySpace and ? ? ? ? Will be FaceBook.... But luckily we are not social media that demands all inclusive domination. I suspect there is room for everyone, like the supermarkets, although the "champions" will come and go over the years... Just don't put your money into a WoolWorths!
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Post by p2plender on Dec 1, 2014 7:36:44 GMT
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Post by cautious on Dec 1, 2014 8:21:52 GMT
"unsecured personal loan through Zopa, Europe's largest peer-to-peer lending platform."
Extract from the above article (thanks p2plender).
Damn.....now I'm even more confused !!!!!!!!!
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pikestaff
Member of DD Central
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Post by pikestaff on Dec 1, 2014 8:37:51 GMT
Thanks for the link! Flowgroup is an AIM listed startup and its technology looks interesting: flowgroup.uk.com/why-we-are-different/Commercial launch of the product is 2015 so it will be a while before it generates significant volumes for Zopa. |
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Post by p2plender on Dec 1, 2014 8:54:30 GMT
Another interesting avenue and the way to go for p2p imo.
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Post by davee39 on Dec 1, 2014 8:54:50 GMT
A bigger point though is that Zopa is waking up to commercial deals like RS and giffgaff, although like safeguard they are playing catch-up.
The development of ISA's (Jan 2016 is my guess) will produce large inflows of cash which will need many more commercial deals like this to prevent a significant drop in savers rates.
My suggestion - how about a P2P branded Credit Card - another nice big market riddled with excessive charges and ripe for disruption.
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jonbvn
Member of DD Central
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Post by jonbvn on Dec 1, 2014 10:03:49 GMT
My suggestion - how about a P2P branded Credit Card - another nice big market riddled with excessive charges and ripe for disruption. That is a cracking idea. I would sign up for one immediately. Alas the lenders would not make any money out of me!
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c88dnf
Member of DD Central
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Likes: 266
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Post by c88dnf on Dec 1, 2014 14:33:27 GMT
From a Zopa representative on another thread in this Forum, as a result of a request for the information:
"we have £324.2m currently on our loan book with £290.6m of that total made of Safeguard lending since May 2013".
So Zopa are the largest lender on all counts, unless I've missed something.....
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sl75
Posts: 2,092
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Post by sl75 on Dec 1, 2014 14:53:40 GMT
So Zopa are the largest lender on all counts, unless I've missed something..... Volume of new business.
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c88dnf
Member of DD Central
Posts: 364
Likes: 266
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Post by c88dnf on Dec 1, 2014 17:21:59 GMT
So Zopa are the largest lender on all counts, unless I've missed something..... Volume of new business. Point taken, but I'm not sure that I'd interpret "the UK's largest P2P platform" (as on RS's home screen) in that way if I was new to the P2P world. To even things up, if we're looking for interesting statements, I think Zopa's lending screen headline of 5.1% "annualised return" is a tad misleading too, given that repayments never become available to the lender on the day they are due and reinvestment rarely, if ever, happens the same day.
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