“Fintech innovation is really the next chapter in the history that we all are writing together here on the STAR Campus,” Assanis said, “the next chapter in the treasured history of our university.

“What is really amazing about this gem is the fact that we already have collaborative hubs on the STAR Campus — in health and life sciences and with our partners in industry — in energy with Bloom Energy and materials, think Chemours,” he said. “Now we’re bringing another great play in our playbook here. The research and innovation at this new hub will expand Delaware’s legacy of national leadership in financial services. We’re also opening up new space for education.”

The excitement around this new headquarters of fintech innovation is grounded in the foundational objectives of the hub, which is designed to promote and enable collaborative work to improve equity in financial services and health, especially for low-income populations where access to high-quality services has been missing for many.

The Federal Deposit Insurance Corporation (FDIC) reported in 2021 that almost 6 million households in the United States had no checking account, no savings account and no credit line. Poor access to trustworthy financial services contributes to many other difficulties — including difficulty finding employment, obtaining insurance and building wealth.

“All of this perpetuates the cycle of poverty,” Assanis said. “But we can help fix that. We can develop the innovative fintech solutions to help those families get the affordable financial services that they need.

“It’s a huge challenge. But it’s one that we’re going to tackle right here in this building with help from all of you — our faculty, students and partners.”

The FinTech Hub already is about 95 percent full, Bowman said.

Under its roof are financial experts, computer scientists, data analysts, startup companies that employ or aspire to employ financial technology of many kinds in their work, even the headquarters of a senior-living community that aims to improve the quality of life for its residents, incorporating innovative approaches and connecting with the research prowess of UD and its students.

About half the space is devoted to UD-based work, including teams from Lerner and the College of Engineering, plus the Office of Economic Innovation and Partnerships (OEIP) and its Spin In Program, Horn Entrepreneurship and Career Center Advisor and Community Outreach.

Carney recalled the gray day in 2010 when demolition of the 3.4-million-square-foot Chrysler automotive plant started on the site where the STAR Campus now stands. The University of Delaware bought the land after Chrysler closed the plant in 2008.

“There was a time when two auto plants and the DuPont Company dominated the economy in our state,” he said. “Those days are long gone.”

Now, though, more people are working on the STAR Campus site than worked for Chrysler 25 years ago, Carney said.

“This is a happy day, a bright day, a bright Blue Hen Delaware day,” he said.

Parks said he has had the opportunity to invest $1.5 billion in community-based projects for Discover.

“This particular project is my favorite to work on,” he said, because of its focus on enhancing the financial health for those who need it most. “We’re hopeful to not just talk about it, but actually do something about it.”

Parks said the project was boosted with funds from the New Markets Tax Credit and partners including Jake Stern, senior vice president of business development for Cinnaire, and Dave Callahan, loan fund director for Neighbor Good Partners.

Participants were welcomed to tour several floors of the new building, and it didn’t take long for new connections to start happening.

Michael Chajes, dean of UD’s Honors College, exchanged business cards with Steve Bailey, chief strategy officer for the Kendal Corporation, a tenant in the building that is affiliated with senior-living communities around the nation. Both are interested in developing new possibilities for student internships.

And Lou Rossi, dean of UD’s Graduate College, liked what he saw during a short stop at the Connected and Autonomous Research (CAR) Lab. He watched a two-minute video on the team’s work with autonomous vehicles and got an idea. Could he bring some high school students from the robotics club he coaches in Wilmington for a visit? The answer: Absolutely.

Such connections are much easier to make now, said William He, a third-year computer science doctoral student, whose mentor is Prof. Weisong Shi, chairman of the Department of Computer and Information Sciences.

“When you’re in this space, you can talk to other groups easily,” he said. “Previously, we did a lot of that by email. Now, we can do it in person.”  

Shi said his team and other faculty from his department have lots of ideas for improving mobility, security and equity for the community. And, he said, if technology is developed that could find a spot in the marketplace, the Office of Economic Innovation and Partnerships is nearby and ready to help with such projects.

Those connections can produce many unexpected and powerful results.

“This is a place to bring together a lot of different disciplines,” Rossi said. “It’s about sharing ideas with people from different disciplines. It’s exciting to see a building that was purpose-built.”