Thoughts from Nesta “Webank” session
Posted on Jan 21st by William in A place to live, Customer service
Got hauled over to a Nesta “Webank” session on future business models in Internet banking. The Zopa posse were there, currently actually arranging loans to borrowers and offering over 9% to lenders last year. Kubera Money promises to implement an online version of the venerable tradition of Roscas: tiny savings and loan collectives with very efficient and transparent costs. Midpoint & Transfer (site broken – needs investment) offers flat fee currency exchange by matching buyers and sellers of foreign currencies – £30 for any scale of transfer. If this works and gets scaled down to do holiday currency exchange for a lower fee this could be wild.
Meanwhile I’m thinking:
- should we have a LETS for “somewhere to live”? Yes!
- could I raise bridging finance from Zopa? No! Max loan is £15k.
