5 • 2.6K Ratings
🗓️ 5 January 2023
⏱️ 23 minutes
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I'm almost old enough to start voicing opinions about youngsters needing to cut their hair and get themselves some jobs. Which is convenient, because that's sort of what we're talking about today with Ethan Fraenkel from ProGrad - a UK-based fintech that's taking an objective-first approach to improving student financing.
"You're not looking for car financing, you're looking to buy a car, you're not necessarily looking for credit, you're you're looking to make a purchase, you're not looking for mortgage, you're looking to buy a house. And so that's really the approach that we've taken with our algorithm as well, that allows us to predict how much money a customer will earn over the next five years."
You can learn more about ProGrad at https://www.prograd.uk/
I mention Guy Kawasaki in our chat, here's his 'must see' TED Talk: https://www.youtube.com/watch?v=Mtjatz9r-Vc
You can learn more about myself, Brendan le Grange, on my LinkedIn page (feel free to connect). The show has its own page there, too, and is also present, but less active, on Instagram and Twitter using the @HTLMTS handle. My action-adventure novels are on Amazon, some versions even for free, and my work with ConfirmU and our gamified psychometric scores is at https://confirmu.com/ and on episode 24 of this very show https://www.howtolendmoneytostrangers.show/episodes/episode-24
If you have any feedback, questions, or if you would like to participate in the show, please feel free to reach out to me via https://www.howtolendmoneytostrangers.show/contact-us
Oh, and if you’re in need of more banking podcasts, you can find related content at https://blog.feedspot.com/banking_podcasts/
Regards,
Brendan
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0:00.0 | As a customer, you want to get the object in a way. |
0:03.4 | So you're not looking for care financing, you're looking to buy a car. |
0:06.0 | You're not necessarily looking for credit card, you're looking to make a purchase. |
0:09.2 | You're not looking for mortgage, you're really looking to buy a house. |
0:13.0 | And so that's really the approach that we've taken with our algorithm as well that allows us to predict |
0:18.0 | how much money a customer will earn over the next five years. |
0:21.2 | We've developed, in essence, a platform on Pergrad that allows users to set up financial goals |
0:27.5 | and find personalized paths to either earn, save or bow the way to their goals. |
0:36.5 | It's a new year, so let's talk about new career beginnings and about people on the cusp of new |
0:42.0 | career beginnings. Students. Like many of you I'm sure, when I was a student, I used to do our jobs |
0:49.0 | for beer and travel money. Some of those jobs were your standard barkeeping or waiting at events, |
0:54.5 | while others were well, well, once I accidentally spent a morning promoting an escort agency. |
1:00.8 | Three friends and I had been promised four hours of pay for just 15 minutes of work, |
1:05.3 | just jumping around inside a van they'd said. Something about a promotion. And to be honest, |
1:10.6 | it was all I needed to hear. That would have been 60 round at a time when, on a Monday night at |
1:15.8 | Springfield, you could get a drink for two. And I don't regret it. But what it really was was, |
1:21.4 | the four of us hidden inside a windowless van painted in the body heat escort agency |
1:26.4 | livery, now parked in the centre of green market square on a busy Saturday morning, |
1:31.4 | making it shake suggestively to promote a Valentine's Day special they were running. |
1:36.1 | When we talk about student financing, we are usually talking about funding their degrees |
1:41.2 | with student loans. But tuition and books are not the only thing students might want help financing. |
1:47.2 | And loans aren't always the best way to raise funds. That's one of the things I love about |
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