marie steinthaler - growth & regulation: striking the balance
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Growth & Regulation: Finding the balanceMarie Steinthaler | Zopa | @marmarlade
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We’re Zopa. Smart loans. Simple Investments.
Lending PlatformLender Borrower
£££ to lend out
£££ repayments£££ interest + capital
£££ loan
Growth & Regulation | @marmarlade
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Driving growth of a global £100bn industry
Source: Peer-to-Peer Finance Association (P2PFA); AltFi.com (as of October 15, 2015)1 As of October 15, 2015
2011 2012 2013 2014 2015 YTD Annualised¹
£89m £179m£462m
£1,341m
£2,667m
Early Adopters Mainstream
Growth & Regulation | @marmarlade
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Growth & Regulation | @marmarlade
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We’ve built growth on three pillars
Consistently great customer
experience
Great value, easy to understand
products
Exceptional, prudent risk management
Create a richer life for everyone by making money simple and fair
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Aside from customers, three actors can make or break you
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Investors Employees Regulators
Growth & Regulation | @marmarlade
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Guardians of an ecosystem with a huge audience of consumers
Cares about high-quality, reliable, consistent, clear services
Provides guidelines for what is and isn’t acceptable
Can enable you to become a billion dollar business… or not!
Guess who…
Growth & Regulation | @marmarlade
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8Growth & Regulation | @marmarlade
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Growth & Regulation | @marmarlade
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Move fast and break things?10
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Some recent examples of when things go “wrong”
Uber employment tribunalFacebook fake news Lumosity fined $2m
Growth & Regulation | @marmarlade
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“Succeeding because of civil society, rule of law & institutions, not despite of them”
13Quote from “On Uber, workers, and regulation”, Azeem Azhar
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Growth & Regulation | @marmarlade
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Engagement with policymakers benefits us all
Harriett Baldwin MP, Economic Secretary to the Treasury, LendIt Europe Oct 2015
“I am proud of the fact that the UK has the largest P2P and alternative finance sector in Europe.”
Growth & Regulation | @marmarlade
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2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016£m£100m£200m£300m£400m£500m£600m£700m
Total Loans
What’s happened to our growth under regulation?
Received interim FCA license
to date
Growth & Regulation | @marmarlade
>60% CAGR
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Act your way into thinking, compliant.
Strictly Private & Confidential 17
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Doing this needs a special structure
1. People who do the right thing (and know what that actually is)
2. The right level of autonomy and alignment for every project
3. Transparent controls procedures that don’t stifle work
Growth & Regulation | @marmarlade
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Every single joiner gets culture-vetted
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Our organisational structure moved from this…
Growth & Regulation | @marmarlade
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… to something more like this
Growth & Regulation | @marmarlade
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The proof points are the impacts
Borrower Tribe UX, pricing, risk optimisation: 30% growth in £loans, >50% growth in revenue, >400% growth in contribution, NPS >85
Lender Tribe Complete lender product re-launch: 100% growth in new lenders, 100% growth in amount of retail money into the platform, NPS >40
Pioneers Tribe 4 months to go from ideation to launch of Car ReFi, UK’s first online car re-financing tool
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