How students can help businesses adapt to the UK market
Working with Lancaster University Management School academics and students can bring benefits for businesses large and small.
Strive, a fintech focusing on youth and family banking, and teaching the next generation about the future of money, launched in the UK in 2021. Before they entered the market, they worked with Dr Ruilin Zhu, from the Department of Management Science, and students on the MSc Management programme.
The students spent two weeks working with Strive UK Chief Strategy Officer and co-founder Ivan Muck on providing potential answers on two areas of practical concern for the company on their UK market entry.
“The students looked at customer acquisition in the UK market, and how Strive could achieve its social objective of improving financial literacy among children and parents in the UK, especially during the Covid-19 pandemic,” said Dr Zhu.
“The challenge provided the students with the chance to interact with a leading fintech company by solving real problems they are facing. The company benefited through insights from our very talented students, and our students had the chance to apply what they have learned in the module to a practical project.
“Strive were very pleased that the student teams came up with some very practical solutions that can be easily applied.”
Mr Muck added: “The student presentations included really well-thought-out ideas and suggestions regarding Strive's customer acquisition strategy and social impact. Most importantly, some of the ideas definitely contributed to our value proposition and youth banking ecosystem.”
There are plans for the collaboration to continue on both a research and teaching basis.