Zopa Opens Second UK Hub in Manchester

Zopa Opens Second UK Hub in Manchester
Zopa Opens Second UK Hub in Manchester

Hey Digital Banking Fanatic!

Zopa, which recently reached 1.5 million customers, is growing across all fronts. The digital bank just announced that, in addition to its London office, it will open a new one in Manchester.

The launch is set for early August, with initial plans to recruit around 50 staff focused on product, engineering, and specialist operations, scaling up to 500 over time.

The move follows a strong year of double-digit growth and rising profitability, along with the launch of its flagship bank account, Biscuit.

With +10k tech businesses, 5 major universities, and a growing finance sector, Manchester offers a strong foundation for expansion. Zopa Bank now joins other digital players like Starling and OakNorth, already established in the city.

Read all the other Digital Banking industry news below 👇 and I'll be back with more tomorrow!

Cheers,

Marcel


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NEWS

🇬🇧 Digital lender Zopa expands to Manchester in British banking push. Zopa will launch its Manchester office in August with an initial capacity of 50 staff, it said, as it seeks to increase its current 1.5 million customers and 5.5 billion pounds in deposits.

🇬🇧 Guaranty Trust plans a secondary listing in the UK. GTCO mentioned that led by Citigroup, would meet a central bank target for all banks to raise capital by March 2026. Lagos-listed is valued at USD 1.8 billion, and it aims to be the first Nigerian financial services firm to secure a secondary listing in London. 

🇪🇸 BBVA launches Bitcoin and Ether trading and custody service for all retail customers in Spain. Customers can now use this service to trade in bitcoin and ether directly through the BBVA app, all within a fully integrated environment that also includes the bank’s other financial services.

🇬🇧 Bank of England considers stablecoins for wholesale markets and shifts regulatory stance. Sasha Mills, Executive Director of Financial Market Infrastructure at the Bank of England, indicated a more receptive attitude towards stablecoins in wholesale markets during her speech at the City Week conference.

🇨🇭 Swissquote secures full ownership of Yuh after four years, buying out PostFinance’s 50% stake. The company has acquired full ownership of the digital platform, which is valued at CHF 180 million. Yuh has grown to over 342K accounts and reported its first annual profit of CHF 1.7 million in 2024.

🌍 Ecobank and Google Cloud partner to boost African FinTech. The collaboration will harness the power of scalable cloud infrastructure, artificial intelligence (AI), and data analytics to expand access to financial services and develop new digital banking solutions.

🇧🇷 Nubank hires former Central Bank official Otávio Damaso as a consultant. Damaso will act as a permanent observer of the Audit and Risk Committee of Nu Holdings and the Risk Committee of Nu Brasil, in addition to advising the group as a consultant "on any issue related to business or risk environments."


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