You give your money to Zopa. Zopa divides it up into chunks and combines it with money from other 'lenders' and gives it to borrowers (which it has performed credit checks on). The borrower pays a fee, a part of which is given back to the lender. Also, if someone defaults Zopa goes after them.
You give your money to Zopa. Zopa divides it up into chunks and combines it with money from other 'lenders' and gives it to borrowers (which it has performed credit checks on). The borrower pays a fee, a part of which is given back to the lender. Also, if someone defaults Zopa goes after them.
How is this not a bank?