Bank On It Nugget of the week - Founders who build a lot with a little
About this nugget:
This nugget was pulled from episode 183 from an interview with Charles Delingpole, co-founder and CEO of ComplyAdvantage. It's on how founders can make decisions fast and accomplishing a lot with a little resources.
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This nugget is on how founders can accomplish a lot, with a little resources. ComplyAdvantage is Charles's third company, on the surface, each company is very different from each other, but by connecting the dots Charles distilled core aspects to build ComplyAdvantage. Those past companies are The Student Room (social media site) and MarketFinance (peer to peer lending). When building a new startup there are the inevitable uncharted paths where past experiences fail to influence a positive step forward. We live in a world where the competition is so high that the speed and accuracy in decision making can flounder or fuel enterprise progress. Accurate and fast decision making is mostly influenced by past experiences, if a founder lacks particular experience then they need a framework that provides time. ComplyAdvantage provides AML, an area of speciality where there's plenty of time to figure it all out. The key is to have the right skillset, combined with the right framework towards accomplishing a goal, is a powerful formula for making faster and more accurate decisions.
Those dots all connected for Charles to create ComplyAdvantage. If you believe in what you're doing, keep doing it, because you're preparing yourself for what you'll be doing in the future even though you may not know what that is yet.
Steve Jobs once said in a commencement speech that you can only connect the dots looking back. This important shift in thinking validates all the hard work you're doing.
What is a nugget of the week?:
The host John Siracusa has recorded over 270 episodes as the host of the Bank On It & Before the A fintech podcasts where he interviews founders building the future of fintech and the VCS/Angels who fund them.
With each interview there's this wow moment when the person interviewed has shared something really special, unique or a reminder on how founders or investors should think. So, here we are delivering those moments to you in the form of a bite sized nugget.
About Charles Delingpole:
Charles is Founder and CEO of ComplyAdvantage, a technology company focused on wiping out financial crime using Machine Learning. As CEO, Charles leads the product development and growth of the company. His passion for the issue came from his time as the MLRO of a previous startup he founded when he realized how inefficient processes around money laundering are.
Over 99% of money laundering is successful, ComplyAdvantage is working to stop it completely. Founded in 2014 with offices in London, New York, Singapore, and Cluj, ComplyAdvantage work with over 350 firms across 45 countries. Charles set up his first company, The Student Room Group, now the world's largest student discussion forum when he was 16. After completing his MA in Politics at Trinity College Cambridge, and then an MSc in Management, Strategy, and Finance from the LSE, he became an associate at J.P. Morgan Cazenove.
About the host:
John, is the host of the 'Bank On It' podcast recorded onsite in Wall Street at Carpenter Group, and 'Before the A' podcast recorded onsite in Flat Iron at Barclays/Techstars Rise NYC. He's a highly sought after fintech, VC and financial services industry enthusiast and connector. He's in the center of the fintech ecosystem, keeping current with the ever-innovating industry. Stay in the fintech know by subscribing to 'Bank On It', 'Before the A'