Zopa Bank gears up for expansion with new CTO and COO

Zopa Bank gears up for expansion with new CTO and COO

Zopa Bank, a digital banking powerhouse, has announced the appointment of Peter Donlon and Kate Erb as their new Chief Technology Officer (CTO) and Chief Operations Officer (COO) respectively.

These appointments are subject to regulatory approval and signify a strategic move to equip the bank for an anticipated five-fold increase in customer growth.

London-based Zopa Bank is a revolutionary entity in the banking sector, leveraging technology to deliver exceptional financial services. By embedding advanced systems and automated processes, the bank is committed to scaling sustainably while maintaining robust operations. Its utilisation of artificial intelligence (AI) and machine learning places it at the forefront of the digital banking revolution.

Peter Donlon and Kate Erb bring their respective expertise in technology and operations to Zopa’s leadership team. Peter, the incoming CTO, will supervise Zopa’s robust engineering team, focusing on expanding their industry-leading products and technology infrastructure. In her role as COO, Kate will oversee pivotal functions including operations, customer service, collections and recoveries.

Before joining Zopa, Peter was instrumental in scaling Moonpig PLC’s tech function from 30 to 200 engineers, even leading the company to a £1.2bn London Stock Exchange listing. Earlier, he served as Head of IT Development for Sainsbury’s, the UK’s second-largest supermarket, managing its technology capabilities across a massive network of stores and employees. Kate, an experienced chartered accountant with over two decades in financial services, will contribute her vast experience to Zopa, transitioning from her role at Leeds Building Society.

Among Zopa’s distinctive features are its unique P2P heritage rooted in FinTech, which has resulted in 18 years of lending experience and £8bn in approved personal loans. Zopa also wields proprietary technology and extensive application of AI to better serve its customers. For instance, in the previous year, Zopa borrowers saved an average of £601 on debt consolidation loans, while savers earned 4.5 times more interest than with high street banks.

Zopa Bank CTO Peter Donlon said, “One of the things that attracted me to Zopa is its ability to deliver great outcomes through cutting-edge technology, markedly improving the financial well-being and resilience of its customers. I am proud to be joining Zopa’s purpose driven team and look forward to scaling its digitally native offering, reaching even more customers as it continues to grow profitably.”

On her appointment, Zopa Bank COO Kate Erb added, “I am excited to be joining Zopa’s leadership team as it prepares to serve 5 million customers in the coming years. I look forward to continuing the delivery of its brilliant customer experience through fair, intuitive, and transparent products that have established Zopa as the UK’s most customer centric bank with one of the highest NPS scores”.

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