Having started his career in the motoring industry before moving into finance as a consultant, Giles Andrews helped to launch peer-to-peer lending and borrowing marketplace Zopa in 2005. Andrews started off as the company's CFO where he raised four rounds of finance, then took the post of managing director before moving to the role of chief executive in 2009.
Zopa is now the leading lending and borrowing organisation in the UK and has expanded into the international market with branches in the USA, Italy and Japan. In light of the recent credit crunch they have received a lot of media coverage, Channel 4 deemed Zopa as the "new way to save and borrow".
In this video interview Giles Andrews related to why Zopa has been so successful by creating the right atmosphere of trust and brand positioning. He speaks of how the company gained popularity after the collapse of big banks such as Northern Rock and how Zopa harnessed the trust advantage that banks once possessed. He offers entrepreneurial advice, recommending launching a business into a growing market and how greater competition helps to improve business efficiency and performance.
Giles Andrews also speaks on how to market your business to non conformists and what problems the recession has created in the lending and borrowing marketplace. This video provides an insight into the changing world of money lending and borrowing and the shift in public use of banks to entrepreneurial organisations such as Zopa.
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