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The case examines the scope, history, and scale of the fintech industry, while also defining what fintech may be...and what it is not. The protagonist, management consultant Carolina Costa, is tasked to advise a client bank executive regarding alternative paths into fintech that he could choose. The material includes an overview of the fintech market, including analysis of entrants from start-up incubators, banks, and technology companies. The case figures and exhibits provide data to allow students to analyze the current market saturation and consumer needs in regard to fintech products. This case was designed for a second-year MBA elective course on financial institutions and markets but can also be taught in a first-year module on banking and financial institutions/financial landscape or as an opener to a core financial management course on strategic options, investment strategy, and value creation.

The High-Impact Wealth Management case series is a portfolio of cases that are built around the high-impact theme. Each case in the series can stand on its own to deliver a unique learning objective; but, taken together, the cases are designed to cover all seven topics covered in the list of "common-cents" strategies. Also refer to W16520.

Louise Dejan was a successful real estate developer operating throughout northeast England. The city council of her hometown of Newcastle faced a problem common to many areas: how to encourage private investment into less attractive areas. In August 2012, Newcastle's East Pilgrim Street neighborhood remained an eyesore, despite its great location between the city's Central Station and city hall. It was a natural place for Dejan to build a typical urban office building over street-level retail building. On a particularly attractive site sat an asbestos-contaminated building, which was a former home to the Bank of England. The costs of remediation had kept developers like Dejan away for many years. To encourage redevelopment, the Newcastle City Council had recently designated the East Pilgrim Street neighborhood an Accelerated Development Zone (ADZ). This gave Dejan access to Tax Increment Financing (TIF), a method by which public funds could be spent to encourage private sector redevelopment of designated parcels of land. After studying the details of TIF and the financial projections of a potential new development, Dejan had to decide whether she should be the first to redevelop property in this well-located but seemingly forgotten neighborhood.

Student spreadsheet for case KEL973.

Renowned New York University Finance Professor Baruch Lev's book, The End of Accounting, makes some very bold statements about the current state-and future-of financial reporting. Rotman School of Management Professor Partha Mohanram responds to some of Lev's more provocative statements, covering topics including: cash flow vs. earnings; the role of intangibles; accounting complexity; and the way forward.

Increasingly, it is possible to generate financial returns alongside positive social and environmental impact. This is the promise of an emerging investment approach called 'impact investing' that is gaining the attention of pioneering investors: big institutions, foundations and high net-worth individuals are moving quickly into this new market. However, in order to succeed, the authors say, impact investing must grow beyond these pioneers and reach a broader set of investors. They show what needs to happen by walking through Everett M. Rogers' five attributes of successful innovations: relative advantage over alternatives; compatibility with the values, experiences and needs of adopters; simplicity; trialability; and visibility. If impact investing can address its barriers-to-adoption, they conclude, it will be one of the breakthrough innovations of our time.

Jumbo Group Ltd. (Jumbo) was among Singapore's leading food and beverage establishments. Founded in 1987, the group consisted of eight brands and operated 16 outlets-14 in Singapore and two in China. On October 28, 2015, Jumbo announced its initial public offering (IPO) of SG$22.06 million, consisting of two million retail shares and 86.23 million placement shares at SG$0.25 each. In this highly competitive market, the company's chief executive officer and chairman was motivated to list Jumbo so it would have a bigger platform and better exposure to grow faster. He hoped a softer IPO market would attract more long-term investors. Jumbo was clearly profitable, but based on its past financial performance, what would be a reasonable valuation for each of its shares? The case covers valuation using the discounted cash flow model, weighted average cost of capital, discounted dividend model, and relative valuation, as well as the computation of underpricing.

Student spreadsheet for case W16808.

Jumbo Group Ltd. (Jumbo) was among Singapore’s leading food and beverage establishments. Founded in 1987, the group consisted of eight brands and operated 16 outlets—14 in Singapore and two in China. On October 28, 2015, Jumbo announced its initial public offering (IPO) of SG$22.06 million, consisting of two million retail shares and 86.23 million placement shares at SG$0.25 each. In this highly competitive market, the company’s chief executive officer and chairman was motivated to list Jumbo so it would have a bigger platform and better exposure to grow faster. He hoped a softer IPO market would attract more long-term investors. Jumbo was clearly profitable, but based on its past financial performance, what would be a reasonable valuation for each of its shares? The case covers valuation using the discounted cash flow model, weighted average cost of capital, discounted dividend model, and relative valuation, as well as the computation of underpricing.

In 2008, a retired farmer from Moose Jaw, Saskatchewan, was facing a challenging investment decision. He had recently met with a real estate investment representative about an opportunity near Edmonton, Alberta. The farmer understood land, but investing in real estate was new for him. The 11 per cent bond return that the representative enthusiastically described made the opportunity seem very appealing. On the other hand though, the farmer wondered if the return was too good to be true. On his farm equipment, a flashing red light usually meant something had gone wrong or was about to go wrong. Thinking about the investment, the farmer felt like a red warning light was flashing in his mind—something was not quite right. But perhaps his concern was unfounded. Should he make the investment?

In the spring of 2012, a U.S. Internet, cable television, and telephone service provider—owned by a private equity group—approached a bank holding company to participate as a co-manager in a highly leveraged transaction in the cable industry. The transaction was the buyout of a smaller publicly traded cable company. The deal would require additional equity investment from the private equity group and a restructuring of the debt of both companies. Although the involved companies' management teams were excited about the opportunity, they knew that executing the deal would not be easy; the level of leverage would be the highest of any deal in the cable industry—or any industry—since before the 2007 economic downturn.

In 2008, a retired farmer from Moose Jaw, Saskatchewan, was facing a challenging investment decision. He had recently met with a real estate investment representative about an opportunity near Edmonton, Alberta. The farmer understood land, but investing in real estate was new for him. The 11 per cent bond return that the representative enthusiastically described made the opportunity seem very appealing. On the other hand though, the farmer wondered if the return was too good to be true. On his farm equipment, a flashing red light usually meant something had gone wrong or was about to go wrong. Thinking about the investment, the farmer felt like a red warning light was flashing in his mind-something was not quite right. But perhaps his concern was unfounded. Should he make the investment?

In the spring of 2012, a U.S. Internet, cable television, and telephone service provider-owned by a private equity group-approached a bank holding company to participate as a co-manager in a highly leveraged transaction in the cable industry. The transaction was the buyout of a smaller publicly traded cable company. The deal would require additional equity investment from the private equity group and a restructuring of the debt of both companies. Although the involved companies' management teams were excited about the opportunity, they knew that executing the deal would not be easy; the level of leverage would be the highest of any deal in the cable industry-or any industry-since before the 2007 economic downturn.

In the spring of 2015, a marketing professor from Indore City in India was looking for an academic, entrepreneurial opportunity that would allow him to work alongside his wife. The professor came across a franchise proposal for a preschool with Delhi-based Wonder Kidz Education Pvt. Ltd. The total investment in the project would be approximately ₹625,000, and cash profits would come in the first year. After discussing the opportunity with the company's director, the professor was interested in taking on the franchise. However, not being an expert in finance, he was confused about the calculations and decided to seek an opinion on the financial feasibility of the project before making his decision.

In the spring of 2015, a marketing professor from Indore City in India was looking for an academic, entrepreneurial opportunity that would allow him to work alongside his wife. The professor came across a franchise proposal for a preschool with Delhi-based Wonder Kidz Education Pvt. Ltd. The total investment in the project would be approximately ?625,000, and cash profits would come in the first year. After discussing the opportunity with the company’s director, the professor was interested in taking on the franchise. However, not being an expert in finance, he was confused about the calculations and decided to seek an opinion on the financial feasibility of the project before making his decision.

Student spreadsheet for case 910N07.

The High-Impact Wealth Management case series is a portfolio of cases that are built around the high-impact theme. Each case in the series can stand on its own to deliver a unique learning objective; but, taken together, the cases are designed to cover all seven topics covered in the list of "common-cents" strategies. Also refer to W16522.

Describes how Deutsche Bank, a leading bank in Europe, is deciding whether or not to launch a new structured retail product in Germany: an auto callable note. Will this product find a market and how does it fit into the bank's product portfolio? The case investigates how Deutsche Bank manufactures and distributes its structured retail products, and more broadly explores the opportunities and challenges of offering financial products to households. The case also dwells on the scale and scope of business of retail banking in an increasingly regulated environment.

Spreadsheet supplement for case 216041.

In April 2014, a research analyst for UR Investing, an investment group from the University of Regina, in Saskatchewan, Canada, was contemplating the decision of investing in a real estate investment trust (REIT). The decision had strategic implications because it would affect the risk profile of the student-managed fund. The analyst was given the task of evaluating the H&R REIT in particular and estimating a target price for H&R’s units. He had to carefully weigh the benefits in terms of returns generated against the risk of taking a position in the REIT. He had to analyze the strategic value of investing in REITs and decide whether to recommend that UR Investing should buy H&R units.