Flagstar Business Challenge

Featuring $3,000 in Cash Prizes & More

VIEW INSTRUCTIONS, TIMELINE, PROMPT & CASE BACKGROUND HERE

SIGN UP FOR FLAGSTAR CHALLENGE HERE


"How does technology play a role in the Branch of the Future?  How can Flagstar attract, retain, and engage consumers, utilizing new market technologies combined with the company's physical geography?"

IMPORTANT:

  • Sign up deadline for challenge is Friday, December 14th by Midnight

  • Challenge is only open to current Michigan undergraduate students

Introduction

The Michigan Fintech Business Challenge presented by Flagstar Bank has been designed to provide interested undergraduate students with an opportunity to demonstrate and further develop their analytical, critical thinking and creative skills in a business context.  While there will be a “winning team”, all participants will benefit from the experience. The case is ideal for those students considering a career in banking, consulting, corporate finance, or technology.  The presentations by the finalists will also allow the panel of judges from Flagstar Bank to observe students’ presentation and analytical skills. 

Teams

Students should form their own teams to participate in the competition. The recommended team size is four. However, a team may compete with a minimum of three individuals or a maximum of five individuals. We encourage teams to form across degree programs (e.g., Business, Computer Science, and Engineering). This suggestion is intended to replicate the work environments that graduates will experience in the field.

Case Study

The case is based on Flagstar Bank and attempts to simulate strategic decisions that the Company may consider.  The information contained in the case is all publicly available information.  Discussion with the management or any employee of the Company or any of the Company’s competitors is strictly prohibited and is cause for disqualification. The case should be the original work of the team members alone. Students who have current or past experiences in banking, consulting, or finance should cite these experiences in their final deliverable. 

Submission Format and Due Date

Each team will register and submit their application here.

Teams are also required to submit an executive summary to the Google Form, which will detail a high-level pitch of the team’s recommendation they would present if selected for the final round. This executive summary must be formatted as a one-page, single-spaced document using 12pt Times New Roman font.  You may have additional appendix pages that include additional source and reference information, if needed.

Your document should be converted to a PDF and include your team name in the title. Final applications with the attached executive summary are due by Friday, December 14th at 11:59pm.  No exceptions will be made for challenge responses submitted after this time.

Finalist Selection

The review committee, comprised of Flagstar Bank professionals will review the documents and select up to 6 teams to participate in the final round. The finalists will be notified by Thursday, December 20th.

If selected as a finalist, a presentation shall be created similar to the discussion materials often used in banking, consulting and corporate board meetings (e.g., PowerPoint or Google Slides). Your presentation should be a maximum of 10 slides in length. You may have additional pages that include tables and exhibits.   

Final Competition

The 2019 Flagstar Bank Fintech Competition Finals will be held Friday, January 18th from 10:00-3:00PM at the University of Michigan.

Each of the finalist groups will make a 10-minute presentation followed by 5 minutes of questions from a panel of judges. After a short recess, the winner will be announced, followed by the judges’ critique of the presentations. Attendance to the finals will be open to all and is encouraged for all who are interested.

Cash Prizes

Cash and non-cash prizes will be distributed to the top three teams as follows:

 

1st Place: $1,500, company swag and first round interviews for summer internships

2nd Place: $1,000, company swag and first round interviews for summer internships

3rd Place: $500 and company swag and first round interviews for summer internships