Flagstar Bank and the Fintech Consortium are accepting applications for the Flagstar MortgageTech Accelerator Program now through Sept. 30. Qualifying applicants will be selected by Oct. 12, and the program will start Oct. 19.
The accelerator program focuses exclusively on incubating tech startup engaged in developing innovative solutions for the mortgage sector. It's the first and only U.S. accelerator of its kind in the mortgage industry.
Benefits of the program include access to experienced Flagstar mentors, bespoke roadmap design for product acceleration and development, real product-testing opportunities, 100% online program and access to a wide network of potential customers. Qualifying applicants may also receive seed capital funding, access to investors and expansion opportunities through the FinTech Consortium’s global network.
“Our team sees this as an opportunity to share our industry and technical experience,” said Jennifer Charters, chief information officer at Flagstar Bank. “We’re proud to offer our support for startups working to improve various points in the mortgage value chain.”
"This second edition of the Flagstar MortgageTech Accelerator Program demonstrates how financial institutions and startups can successfully innovate together. Flagstar’s leadership and domain expertise in mortgage finance provide a unique opportunity to startups seeking to validate their technology and accelerate their growth,” said Maissan Almaskati, chief executive officer of the FinTech Consortium in the United States.
Since the launch of the accelerator in September 2019, startups Home Captain, Brace and boost.ai have completed the program.
“Having access to mentorship, transparency, process orientation and problem-solving between the two organizations has benefited us greatly,” said Grant Moon, CEO of Home Captain. “We have reduced our average go-to-market by 50 percent through the engagement and leadership team efforts at Flagstar Bank.”
The program, entirely delivered in an online format, is open to any startup applicants who can participate in live sessions that will be scheduled in the U.S. Eastern time zone.