I Started the 'Bank of the Future' While Still in School. Here's What I Learned

By Travis Ledwith
A certain school of thought holds that going to business school is a waste of time and money if you want to start a company, soaking up scarce resources better used to get your idea off the ground.

In some situations, this is undoubtedly true. But an MBA program accelerated my startup by giving me analytical skills and global connections that opened doors to potential investors, partners, and customers.

My business partner and I met during our MBA studies and quickly discovered a shared interest in using the latest digital tools to help people manage their finances. As our discussions continued—in and out of the classroom—we thought about what the “bank of the future” would offer and the role it could play in the lives of customers.

Before long, we were using what we learned in class to start a new retail bank in Europe. There, poor customer satisfaction and a lack of innovation had left an opening for smaller, more agile financial institutions. What began as an academic exercise became real in 2013, when we decided to leave the corporate world and focus on building our company, FLIP, while finishing our coursework. Here are some of the lessons we learned along the way.

- Read More