Zopa, a UK-based neobank, has appointed Kate Erb as chief operating officer (COO) and Peter Donlon as chief technology officer (CTO), subject to regulatory approval.

Erb will be responsible for overseeing crucial functions at Zopa, including operations, customer service, collections, and recoveries. She brings over 20 years of industry experience and has held several positions in similar roles at startup banks such as Aspinall Financial Services and Vive. Additionally, she has served in senior roles at Capital One Bank (Europe) for more than 11 years. 

As Zopa's CTO, Donlon will supervise the 220-member engineering team, focusing on expanding the product and technology infrastructure while incorporating AI and machine learning. Previously, he worked at Moonpig, an ecommerce and tech platform, where he held the position of chief product and technology officer for over five years.

Furthermore, the company has introduced a Smart Individual Savings Account (ISA) that enables users to save up to GBP 20,000 without being taxed. Users can split their allowance among 20 different savings pots, allowing them to divide their savings between immediate “easy access” pots and “fixed term” pots. The fixed-term pots offer higher interest rates and can be locked in for one to five years. Currently, Zopa's app offers a few savings options, including fixed-term savings and smart savers.

Analyst QuickTake: The above updates come on the heels of its GBP 75 million (~USD 93 million) all-equity investment round, completed in February of this year . The fresh funds were earmarked for developing new financial products, expanding the customer base, and making acquisitions.