Virgin Money works with Hult students to innovate their products QA

The digital banking division of one of Britain’s biggest brands, Virgin Money, is collaborating with Hult students to develop a selection of products that have the potential to disrupt the area of student digital banking. David Hall, Director of Future Generation Banking at Virgin Money, has been working with Hult’s undergraduate students to innovate a student banking app. And now, David and his team have asked Masters students in the Finance Society to tackle solutions to offering student loans in the U.K. David says of the experience: It has been a real pleasure working with Hult International Business School and sharing in an impressive response to the corporate challenge we set in the Fall. Both students and staff have genuinely engaged with Virgin and added value to our quest to reinvent what a bank should be. We have been impressed by the innovation, creativity and enthusiasm the team have brought to this strategically important opportunity and expect this to be the first step in a growing cooperation between Virgin and Hult. So how did the students themselves find the experience? And what was actually involved? We spoke to two undergraduate students, Claudia Lopez and Thomas Foffano, and Master of International Business student and member of the Finance Society, Mark Ludwig, to find out. How did you become involved in the project with Virgin Money? Claudia: I joined this project as a member of the Management Consultancy Club. Having Virgin Money as my first client was surreal and nerve-wracking, but it ended up being the best experience. As a first-year university student, this was an unbelievable opportunity. Thomas: Virgin Money set the challenge to our Corporate Entrepreneurship class, led by Professor Alessandro Lanteri. The project made us understand and apply everything Corporate Entrepreneurship is about – that being innovative is not just for startups to break through, but also crucial in well-established businesses to stay competitive, finding new ways to solve an issue and come up with a new product or service. [Tweet Being innovative is not just for startups, its also crucial in well-established businesses] Mark: I was approached by Matthieu Poupard, on Hult’s Corporate Relations team who said that Virgin Money were coming to the end of their project with the undergraduates and were looking to collaborate with Hult students on another project. He asked if I thought the Finance Society would be interested, and obviously, I said yes. How did you work with the team at Virgin Money? Claudia: We got to meet and talk to the Virgin Money team, work with some of their partners on the technical development of the product, then go to the Virgin Money offices and present to  the  board. It was amazing being so involved with the Virgin Money leadership team, and an incredible experience to work side-by-side with them on a product that is launching to market. Claudia Lopez presents her teams student banking app to Virgin Money executives Mark: Well, we’re still in the middle of the project. But so far, it’s been a very closely collaborative working relationship. Even in terms of how we were going to run the project, we developed the process together. How did you go about developing the product? What was the process? Claudia: The first stage was to collect primary data and present it to the Virgin Money team. Then, we prepared our report and a video showing our idea. The best teams were then chosen to work with Virgin Money on the product that would launch this Spring. Developing the product for launch started with a design sprint, led by Professor Lanteri, in which we had to create a prototype in five days. These five days were very intense and frustrating at times but they were the key to this project and where all of the best ideas came from. Step by step, we brainstormed, we designed, we created prototypes and we even went out to universities to test our product on the possible future client. It was amazing being so involved with the Virgin Money team, and an incredible experience to work side-by-side with them on a product that is launching to market. Thomas: Timing is crucial, and during a 5-day design sprint, time flies. The first two days we had countless ideas, and having to cut through to determine what the service would eventually feature was a tough set of decisions and compromises. Even after we settled on our product, we were constantly updating it with new data, from functional difficulties to legal blocks, and we had to relentlessly redefine the App concept accordingly. Mark: We’re looking into developing student loan products for the U.K. market and trying to find a solution that works for everyone – students, parents, the government. The biggest challenge right now is the fact that were trying to compete with a state-sponsored loan system. Theres a lot to consider it’s a huge challenge. How do you think working with real companies on real business challenges like this prepares you for the working world? Claudia: By working with a real company, you not only learn the skills required to do the job but you learn how the company actually works. You get to observe how they think and how their day-to-day is. I believe that the best way to learn a language is to talk to and to be surrounded by people that speak it, and learning about the working world is no different. By working with real companies you will learn how to tackle and solve any problems or issues that a book will not teach you. By working with real companies you will learn how to tackle and solve any problems or issues that a book will not teach you. It teaches you how to communicate and network with other people as well, which is a very important factor. Knowing how to communicate and how to cope with different situations is as important as knowing the theory behind it. The Virgin Money team feedback on the students proposals Thomas: Challenges like this do prepare you for the working world; your employer will come to you with a problem or job, and it’s up to you to do the best you can in the time you have. Also, as I had never met any of my teammates before, it also taught me to perform under pressure with a team of strangers, something all of us will probably be asked to do more than once in our careers. The clubs and societies here at Hult make their own relationships with people in the business community, and they do an awful lot with them outside of class. Mark: Working on real problems with a real client motivates you and adds to your drive. I’ve learnt so much about how to manage client interactions. I want to go into consulting, so this is the ideal experience for me. The clubs and societies here at Hult give you a lot of opportunities to do things like this they bring in great speakers, they get involved in projects like this one.  The clubs make their own relationships with people in the business community, and they do an awful lot with them outside of class. Have you discovered anything surprising about your skills or passions through working on the project? Claudia: I realized how much I would like to be an entrepreneur and launch my own product. I loved all the aspects of the process, from the importance of putting yourself in the customer’s mind and thinking what they would like, to  the brainstorming, the thinking of every detail, the design of the product, every button, every line, every shadow everything matters. [Tweet Every button, every line, every shadow, everything matters. ] Thomas: I could’ve easily missed this opportunity. I remember my team being chosen as part of the finalists to present to Virgin Money at the end of the Corporate Entrepreneurship course  and continuing to  work on it  during the design sprint. I received the email two hours before the finalist presentations, and my two teammates were back home for the weekend. I was reluctant to go and present on my own, especially with no preparation, but I decided to jump in a cab to Virgin Money headquarters and do my best†¦ It’s perhaps the best decision I have taken in my academic life and it taught me an important life lesson: NEVER back down. To find out more about our undergraduate and graduate programs, download a brochure. Claudia Lopez is a first-year undergraduate student on the Bachelor of Business Administration program. Thomas Foffano  is studying for his  Bachelor of Business Administration at Hults undergraduate campus in London. Mark Ludwig is a Master of International Business student at Hults graduate London campus. Kickstart your career with Hults undergraduate business school. To find out more, take a look at our blog Going beyond business: Introducing our undergraduate curriculum. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself. Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .