Has anyone tried ZOPA?

I've just followed a link from Yahoo about ZOPA, the worlds first money exchange https://www.zopa.com. They have been running since March and I was wandering if anyone had loaned or borrowed money through them. The idea of lending money to other people at a rate lower than most banks lending rates and them paying you back at a higher rate of interest than you can get in most savings accounts seems like a great idea. Both sides seem to win and only the banks loose. If their claim, that no one has failed to make a repayment yet, and they spread the risk across lots of lenders is this the future of finance or am I missing something?
Thanks, clanmcneil