First-year business Live Case Competition moves online and impresses alumni and students

Jan. 12, 2021

The Live Case Competition finals took place remotely on Saturday, Dec. 5 with first-year Bachelor of Business Administration (BBA) students working to solve a real problem posed by case company and sponsor, TD.

This annual event is an integral part of the program’s required first-year course, BU111: Understanding the Business Environment in which students develop critical problem-solving and communication skills through a hands-on group project. The course-long project turns students into consultants, asking them to develop creative solutions to a real problem faced by a real company. Past case companies have included HP Canada, Starbucks, Kik and Samsung.

This year, course coordinator Sofy Carayannopoulos, associate professor of policy, transformed the experience to ensure all considerations were in place for students, alumni volunteers and executives to participate seamlessly in a remote environment. The result was a high-quality immersive experience that allowed first-year students to present solutions with more confidence than ever before, participation from alumni volunteer judges from around the globe, and a networking opportunity that would not otherwise have been possible.

“I’ve always been incredibly impressed by the quality of students in first year and this year was no exception,” said Carayannopoulos. “Students graduating from this cohort have faced truly unparalleled pressures and challenges in their lives and in their learning environment that will benefit businesses and firms when they graduate. Not only have they finessed and developed critical thinking, analysis, and problem-solving skills through this competition, but by integrating technology and introducing these students to alumni from Toronto to Vancouver to California and Singapore, we’ve introduced them to future employers and a network that will be with them for the rest of their lives.”

The Live Case Competition was the genesis of Carayannopoulos, who volunteers her time coaching and mentoring students competing around the globe in case competitions representing the Lazaridis School. Her extensive network of alumni and business contacts has led to numerous impressive case companies participating in this competition, bringing executives to meet with and listen to presentations from students. 

This year, the case company, TD, asked students to tackle increasing concerns and comfort levels of their consumers surrounding digital transactions as TD tries to understand and inform best practices in protecting consumers against cybercriminals. 

A total of 48 teams of four to five students each advanced to the semi-final round and six teams moved on to the finals held on Dec. 5. Finalist teams presented their creative solutions to a panel of executives from TD, including:

• Mike Kelly, senior vice-president, Simplification
• Jane Medina, associate vice-president, Enterprise Ideation Program – iD8
• Claudette McGowan, global executive officer, Protect Fusion and Cyberspace Experience
• Tammy McKinnon, head, Financial Crimes and Fraud Management Group 

The first group to present, Allstar Consulting, proposed that TD partner with BioCatch, a digital identity company that delivers behavioral biometrics through analyzing human-device interactions to protect users and data. Using measurable biometric data, this partnership would help TD create a comprehensive fraud management strategy. 

Team Reverso was up next, and presented a digital key code system. They proposed that each customer have a unique 8-digit number that changes periodically and is used like two-factor authentication but in reverse. In this approach, TD would use this number in all their interactions with customers, giving them peace of mind by seeing this code before sharing any sensitive information. 

Following Team Reverso, Team iD9 presented their idea of a numberless card. Similar to the Apple Card, this card would only contain the card holder’s name and an expiry date, with variable card numbers issued to the customer. With this model, customers would log in to the TD app using biometric verification and can then see a temporary number that would expire after a certain point to help reduce card fraud. There would also be a “retrieval log” to track where the card has been used and to verify any previous transactions.

After a short break, The Green Team brought it back to basics with their idea of implementing a digital security certificate. Issued by TD, the team proposed that users install the certificate which would certify only that device to have access to the account information. 

TD Elevate gamified banking, with a rewards system that would teach customers how to avoid fraud and reward customers for actions that would increase security. Targeting millennials, achievements of users would be tracked on a leaderboard and would be integrated into mobile banking.

Last but not least, TrueLifeBanking pitched an optimum plan. They proposes that users would be able to make face-to-face calls through the TD app and a digital dropbox would be created for customers to securely upload documents. 

The judges were impressed with the innovative solutions and professionalism of each group. “Skills that the students displayed today – creativity, innovation, talent, and professionalism –  are what TD needs. They are the skills of the future,” said TD’s Senior Vice-President of Simplification, Mike Kelly.

After a difficult deliberation, judges from TD awarded first place prizes to Allstar Consulting for their partnership proposal with a biometrics company. Congratulations to Amant Bajwa, Evan Ellig, Ho Khanh Lam Du, Yixin Fan and Chuhan Huang for achieving the top spot. 

The Lazaridis School would like to thank TD for participating in this invaluable learning experience. To learn more about the Lazaridis School Bachelor of Business Administration (BBA) program, visit our website.