Licence granted to lender Zopa

Peer-to-peer lender Zopa has received a banking licence from the City watchdog as it aims to compete with high street stalwarts. Boss Jaidev Janardana said the licence was the starting point for Zopa to become a “major force in retail banking”. It has been awarded a licence with restrictions from the Financial Conduct Authority and it will be granted a full licence once it meets certain conditions.