“I think consumers are responding to the disruption of all sorts of industries and disruption occurs when better value is offered by a disruptive player than the incumbents,” says Giles Andrews, chief executive of Zopa.

In the latest FTAdviser video interview, Mr Andrews said financial services has been rather slower to be disrupted than many of the industries we know well, such as music and travel.

He told Investment Adviser’s Julia Faurschou that this has been because financial services has historically been “quite well protected by regulation.”

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