Zopa Bank is partnering with John Lewis Money, the financial services arm of John Lewis Partnership, to offer personal loans to its 23 million customers via the John Lewis Money website.
Zopa Bank explained that embedding its digital-first personal loan product into the John Lewis website gives the retailer’s customers more finance options that are simple and transparent.
Customers can get a personalised loan quote in three minutes, with most customers accessing their money in under two hours once their loan has been approved. Available loans range from £1,000 to £35,000 with a term ranging from one through to seven years.
Andy Piggott, director of credit and banking at John Lewis Money, said: “Zopa Bank has been a trusted partner of ours for almost two years; we’re really excited by this next phase and the ability to offer their loans directly to our customers through our own John Lewis Money website. Whether it’s to help with home renovations, buy a car, or to help fund a once-in-a-lifetime trip, we hope that this additional finance option can help our customers turn their ambitions into reality.”
Zopa Bank serves around 1.3 million customers with personal loans, credit cards, point-of-sale retail finance, car finance, savings accounts, and financial health tools.
Tim Waterman, chief commercial officer at Zopa Bank, also commented: “Consumers have a long-held trust in John Lewis, and we’re pleased to be working with them to help more people access better-priced credit. Zopa Bank has always been focused on providing customers great value and experience. We have led the movement towards personalised rates and instant loan approvals and currently serve over one million customers in the UK.”
Zopa Bank products can be seamlessly integrated to support the needs of its business partners, which include leading e-commerce merchants, including Simba, Emma and Swyft, as well as the UK’s largest electricity supplier Octopus Energy.
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