Tech adaptability helps Zopa unwrap current account and test generative AI | Computer Weekly
Summary
The general availability of its current account, which is already used by 60,000 existing Zopa customers in its beta version, is further evidence of the company’s flexibility and ability to harness its tech to adapt to the market. Zopa Bank CEO Jaidev Janardana told Computer Weekly the beta label will be removed from the current account in the final quarter of this year after a successful pilot with customers already using its other products. “We expect, by the end of this year, to have [GenAI] beta products for customers from an assistance standpoint, to help them understand their finances better and so on.” Zopa will use a variety of the foundational models for these services rather than create its own, added Janardana. A current account is a means of building a wider relationship with customers, who have tended to regard challenger banks as a secondary finance provider. There is momentum and scale, and I expect companies that are successful to be able to continue to maintain more than double-digit growth rates for the foreseeable future.” • Zopa to focus on banking after closing peer-to-peer lending.