Zopa is using Open Banking to connect to users’ bank accounts automatically; checking income and spending data to determine loan affordability and enabling users to connect multiple bank accounts to their Zopa for financial management.

In response to COVID-19 challenges, Zopa partnered with Paylink Solutions to offer Embark, an Open Banking powered service to help borrowers whose circumstances changed (e.g. furloughed) through analysing their transaction data and re-structuring their repayment plans.