THE INTEREST-FREE SAVINGS AND LOAN SYSTEM
JAK has been operating an interest-free savings and loan system since 1970. A bank license was obtained in 1997. Formally JAK is a co-operative bank. We have 33,000 members and our growth is 7 percent per year.
Social Lending is a smarter, fairer and more human way of doing money. It's like borrowing and lending with your friends and family - except there are thousands of people you can lend and borrow with.
With public perception of high street banks at an all time low, Giles Andrews, CFO of ZOPA, tells our reporter about his company's revolutionary approach that's fit for the iPod generation
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