Zopa may let staff work abroad for six months a year
Zopa has hired consultants from KPMG to re-evaluate its work-from-abroad policy, including potentially allowing staff to work up to half the year overseas.
The London-based bank, which employs around 650 people in the capital and has more than 800,000 customers, is also looking at allowing staff to work in a greater number of locations overseas, according to a report in the Telegraph.
Zopa was awarded a full UK banking licence in 2020. The company started as a peer-to-peer lender, but closed that part of the business on 31 January 2022.
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Currently, Zopa allows staff to work up to 120 days a year outside the UK. KPMG is advising it on the tax and immigration implications for staff working in different countries.
However, allowing staff to work overseas for longer periods could also raise regulatory issues, with the Financial Conduct Authority warning bankers and traders that regulators could conduct home visits following a rise in the number of people working from home.
A source close to Zopa, cited in the report, confirmed that the policy is being reviewed, but said the number of days employees are allowed to work from abroad “will likely not change” after its next update in the coming months.
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Helen Beurier, Zopa’s chief people officer, told the Telegraph: “The world of work has undergone unparalleled change, demanding greater flexibility and the increased desire to feel that our work is meaningful. Our employees now look for jobs that come with the flexibility to support their life goals.
“We believe that our employer value proposition will be a huge success, as it will enable our people to experience a full and rewarding life with incredible learning and development opportunities.”
Peer2Peer Finance News has approached Zopa separately for comment.