Zopa wants to train bankers at AI

Zopa Bank Over the years, it has become a benchmark FinTech in its market: the UK. Initially a specialist in individual lending, FinTech has diversified to offer wider financial services. In June, she even launched her first current account. But its diversification strategy is not limited to private banking. FinTech is now also seeking to establish itself as a benchmark of banking AI by offering to train bankers in this technology.

FACTS

• Zopa has just presented his new campaign called Jobs 2030. The latter is intended for the training of 100,000 employees in the banking sector, on the topical theme of Artificial Intelligence.

• FinTech will begin its in-house training efforts by offering modules to its engineers, analysts and operational managers. The latter will have to test and give their opinion on the content proposed.

• It will then propose modules specially designed to be accessible and adapted to the UK banking sector. Training is thus presented as a potential tool for vocational retraining.

ISSUES

• Reducing Social Risk: Zopa points out that up to 27,000 employees in the banking sector would potentially be affected by job losses due to the deployment of artificial intelligence technologies, according to the Zopa-Juniper study detailing the impact of GenAI on the UK banking sector. The latter also states that UK banks are expected to invest more than £1.8 billion in GenAI by 2030 in order to increase productivity, reduce costs and improve customer experience. Finally, AI is expected to save 187 million hours of back-office and compliance work.

• Providing a new role : Initially a specialist in individual loans, Zopa experienced difficulties in its original market and therefore chose to diversify in order to ensure the sustainability of its activities. It is now seeking to impose itself on a new market which is that of training and at the same time envisages convincing a new target with regard to the interests of these services: that of bankers. FinTech seeks to move beyond competition to position itself as a partner of bank employees.

• Valorize its expertise : Artificial intelligence technologies are obviously at the heart of the news in recent months and actors in different sectors are seeking to defend their vanguardism and expertise in this new market of the future. AI is also a transformation engine for many sectors. However, Zopa has chosen to capitalise on its training efforts, initially aimed at its own employees, to also propose to change the skills of bankers and thus gain wider legitimacy on the subject.

PERSPECTIVE

• To change their business and integrate new artificial intelligence technologies that promise to optimize processes, many players, including financial services specialists such as BBVAtoday rely on the formation of their teams in-house. These efforts effectively contribute to the diffusion of AI technologies in organizations, while 90% of Bank of America employees stated For example, use AI last April.

• However, these training efforts do give a form of expertise in artificial intelligence to the actors who are at the origin. And today, Zopa is just trying to capitalize on his efforts to radiate more widely as a reference on this topic.

• However, this initiative is not a first from a financial services actor. Already in 2019, Crédit Agricole Pyrénées Gascogne (CAPG) Associated with the technology giant Microsoft to open an AI school. At the end of 2024, Accenture is also deployed an AI learning program for executives.

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