Zopa claims Windows Live first

Zopa, the peer-to-peer lending and borrowing marketplace, has made it even easier for members to profit by using Microsoft's Windows Live technology.

Zopa is the first company in the world to adopt the Windows Live ID Contacts API which allows members to link their email contacts list to Zopa, making it easier to invite new members.

Zopa's 'Member get Member' scheme rewards users for recommending the service to new lenders or borrowers who go on to make transactions - £30 for each new member.

Using the new service, members sign in to Windows Live via Zopa.com, which pulls through email contact details to be selected for invites to the marketplace. Zopa said this added functionality takes away the hassle of inviting friends to join.

silicon.com Financial Services

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Zopa's UK CEO, James Alexander, told silicon.com: "It's a very interesting and real use of Windows Live API. For us it's the first step of Zopa working with Microsoft to create more services."

Future applications will include members being able to create a friends and family network with transactions taking place exclusively within this group of contacts.

In the wake of Zopa winning the Webby Award for Best Banking/Bill Payment site yesterday, Alexander said: "We're really, really pleased - I think it's great from a UK angle."

He added the award is one element that will help raise awareness of Zopa globally.

Following the cash boost for the company in March, Alexander said the UK business is "going from strength to strength", with the service close to having 150,000 members.

Preparations for the US launch of the service are "going fine", he added.

Zopa also won Internet Innovation of the Year at last year's CNET Networks UK Technology Awards. See below for details of the 2007 awards.