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Emerce Insight Banking IJtoren Amsterdam

Emerce Insight Banking IJtoren Amsterdam

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  • Good morning. I want to take you on a personal journey and tell you a story [not about me] about how Social Lending in its current from was created - and then use that to illustrate some themes that I believe will resonate in many other areas of financial services But before all that … Zopa name story – bottom of nego class, ZOPA, designers love it, domain available, researched well – launch … Russia .. asshole

James Alexander Zopa Presentation Transcript

  • 1. Social Finance: Where did it come from, where is it going? James Alexander Wednesday 14th May 2008
  • 2.
    • “… The consumer revolution of the last 30 years is giving way to the Freeform Revolution of the next 30 …”
    Consumers are changing
  • 3. We have been here before TECHNOLOGY REVOLUTION INSTALLATION DEPLOYMENT ERUPTION FRENZY GOLDEN AGE MATURITY Turning Point 2 nd Age of Steam & Railways 1836 Railway mania 1829 Revolutions 1848 Panic 1847 1857 1866 1873 3 rd Age of Steel, Electricity & Heavy Engineering The “Great Depression” 1875 1890 Argentina (Baring ) USA 1893 1903 USA “ Rich man’s panic” 1907 1920 4 th Age of Oil, Automobiles & Mass Production 1930s and WWII 1908 1920 * 1929 USA stock mania 1960 1974 “Oil crisis” Source: Carlota Perez ‘Technological Revolutions and Financial Capital – the Dynamics of Bubbles and Golden Ages’ Canal mania 1793 1 st ‘ Industrial Revolution’ 1771 1810 1819 1825 Panic 1797 5 th Age of Information & Telecommunications ? 20?? 1971 1974 * “Oil crisis” 1987 1989 Collapse 2 nd World 1997 Asia 2000 NASDAQ 2005 eBay
  • 4. Freeform companies, enabled by technology are transforming industries 2000 2005 2010 P2P Lending P2P Voice P2P Video P2P Info P2P Social P2P Photos Social Networks eBay for things … iTunes for music … Zopa for money TECHNOLOGY REVOLUTION INSTALLATION DEPLOYMENT ERUPTION FRENZY GOLDEN AGE MATURITY Turning Point 5 th Age of Information & Telecommunications ? 20?? 1971 1974 * “Oil crisis” 1987 1989 Collapse 2 nd World 1997 Asia 2000 NASDAQ 2005 eBay ? ? ? ? P2P Trading P2P Payments Personalised Search
  • 5. The online marketplace where people meet to lend and borrow money With no bank in the middle, both parties get better rates
    • Lenders
    • Great Returns
    • It’s human
    • It’s safe
    • You’re in control
    • Borrowers
      • Low, low rates
      • No banks
      • It’s fair
    Lenders receiving a c.30% better return than base rate; Borrowers borrowing c.30% below the market
  • 6. Financial return and social reward Working, differentiated, compelling
    • Launched in the UK March 2005
    • >200,000 members
    • Borrowers getting the cheapest loans in the country
    • Lender returns 7-11%
    • <0.2% defaults
    • Launched in the US
    • Launched in Italy
    • JV in Japan
  • 7. Control, community, transparency and ethicality key for value and trust
    • “ No other financial site that I have visited has the guts to run a discussion board and take it on the chin.
    Openness is highly valued Users feel valued and committed Users become champions of Zopa That makes me feel like I am part of a community and seems to trigger a sense of belonging. With belonging comes pride and passion. When I tell my friends about Zopa I feel hurt by any negative comments they make as though the site was my own, and for that reason it gets me all wound up when I see even the tiniest glitches on the site” Mosshill, Zopa lender ( Oct 18 2006, 09:17 AM)
  • 8. An evolving model More involving, more viral
  • 9. An evolving model A derivative in the US
  • 10. Social Finance is already global Expect proliferation, niches developing, consolidation
  • 11. Opportunities
    • What new opportunities can you see to serve Freeformers?
    • How will you provide an experience that embraces
      • Community?
      • Transparency?
      • Control?
      • Ethicality?
    • How will you take your brand into a consumers life and give up demanding they hold a relationship with you?
  • 12. Feel free to get in touch: James Alexander [email_address] +44 7957 209670