Array (  => July  => 4,  => 2016 )04July
Students from TUM School of Management win 13th Postbank Finance Award
Success at the highest value German university competition in the field of Banking & Finance / How digitalization influences the banking business
Students from TUM School of Management celebrated huge success at the Postbank Finance Awards – by winning a share of €110,000 as part of the highest value German university competition in the field of Banking & Finance. The team – lead by Dr Markus Böhm and including Gabriela Galic, Christian Olenberger, Maximilian Siegert, Andreas Sperling and Florian Zyprian – took home the first prize and can look forward to sharing prize money totaling €50,000. Postbank announced the winners of the 13th Finance Awards at a ceremony in Bonn on Friday, 1 July 2016. Each supervised by a lecturer, 25 teams of students from 25 German universities and universities of applied sciences took part to tackle the following topic: “The mega trend of digitalization: how information technology and social media are influencing banking business models.”
“The students’ work clearly shows how important it is for Postbank to make the most of the opportunities afforded by digitalization,” explains Frank Strauß, Postbank CEO and Awards sponsor. “It’s not enough for us to simply offer our customers digitalized products and services of the highest level. Instead, they particularly expect services from us that are only possible through personal contact. In addition to intelligent technologies, digitalization can also offer significant savings in terms of time and cost, which is important so that we can be personally available for our customers where they really need us.”
Together with their lecturer Dr Markus Böhm, the students from the TU Munich comprehensively presented, analyzed and systemized the market for financial-technology companies (FinTechs). They assessed the business models of FinTechs based on their specific strengths and weaknesses, and related them to a business model of a typical German universal bank. As part of their work, they presented in detail how FinTechs can compete with, cooperate with or complement banks. They also calculated the effect of their current relationships on the value stream network of the model bank. The team then made a series of convincing recommendations for dealing with universal banks.
Second place, with winnings of €25,000, was awarded to the University of Regensburg. The students from the University of Bayreuth were able to celebrate third place and winnings of €15,000. A special prize worth €20,000 was awarded to the team from the University of Applied Sciences in Weserbergland for their work that provided particularly convincing practical orientation.
The prize winners were selected by a nine-person jury from the world of science and economics. The jury was chaired by Prof. Dr Erik Thiessen from the University of Mannheim.
Further information is available online: www.postbank.de/finance-award.