Ep232 – Loot CEO Ollie Purdue on Creating a New Banking Experience at Age 20

In this episode What were you doing when you were 20 years old? Ollie Purdue was studying law…and founding a company to transform the banking experience. He didn’t want to be a lawyer, or a banker, but he did want to solve a problem facing many students: budgeting and forecasting how much money they’ll have and need every month. “At the time I was studying, I kept getting really frustrated with my bank account. It was just unable to tell me basic things about money, and that’s, kind of, what a bank’s meant to do, right?” Ollie says. “My bank wouldn’t tell me, when I got paid, how long that money will last. It wouldn’t tell me where I can cut down on my spending, and it wouldn’t tell me if my spending’s normal. So I was in a position where I never really understood my money, and I just didn’t get it, and then I tried budgeting apps and things like that, and they were really clunky…So it became really clear that a bank needed to be much smarter with data, and present that in a better way, and that’s kind of where it started.” Like FinTech Insider? Tell a friend about your favourite episode. And please leave us a review on iTunes – it helps people discover us. The post Ep232 – Loot CEO Ollie Purdue on Creating a New Banking Experience at Age 20 appeared first on 11:FS. Learn more about your ad choices. Visit megaphone.fm/adchoices