Flagstar Bank and the Fintech Consortium are now taking applications through Sept. 30 for the Flagstar MortgageTech Acceleration Program. By Oct. 12, eligible candidates will be chosen, and the service will begin on Oct. 19.
The accelerator program puts an emphasis on incubating software start-ups involved in the development of groundbreaking mortgage business solutions. In the mortgage industry, it is the first and only U.S. accelerator of its kind.
The program advantages include access to professional Flagstar mentors, personalized project acceleration and growth planning creation, actual product research opportunities, 100% online program, and services to a massive network of prospective buyers. Qualifying candidates can also gain venture capital investment, access to stakeholders and possibilities for growth across the international platform of the FinTech Consortium.
Jennifer Charters, chief information officer at Flagstar Bank, said, “Our team sees this as an opportunity to share our industry and technical experience”. She also states that they take pride in providing services for startups aiming to improve multiple aspects in the mortgage value chain.
This second version of the Flagstar MortgageTech Acceleration Program reveals how financial firms and startups can successfully grow together. According to Maissan Almaskati, chief executive officer of the FinTech Consortium in the United States, Flagstar’s guidance and domain knowledge in mortgage finance offer a unique platform for start-ups seeking to support their technologies and drive their development.
The software, completely administered in an online environment, is available to all startup candidates who may join in live sessions that will be scheduled in the U.S. Eastern time zone.
What does Fintech Consortium exactly do? FinTech Consortium is a global fintech ecosystem developer that seeks to foster the growth, engagement and advancement of fintech ecosystems. They cultivate synergies among industry players that recognize how technology can bring actual benefit to the financial sector, including government agencies, financial firms, large corporations, shareholders and innovators.
They offer commercial incubation, analysis center and startup acceleration, as well as access to analytical software and fintech-related services through their fintech incubation portal.
Fintech, experts conclude, is a critical technology layer for financial institutions to sustain and improve financial services development.