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    FDITECH Selects Three Teams in Sprint to Help Banks Test Resiliency

    October 25, 2021

    FDITECH, the technology lab of the Federal Deposit Insurance Corporation (FDIC), selected three teams in a sprint designed to explore new technologies and techniques to help community banks, and the banking sector as a whole, evaluate how well they can withstand a major disruption. This sprint, launched on August 30, 2021, challenged participants to identify solutions for institutions of all sizes to measure and test their resilience to major disruptions. The evaluation panel consisted of representatives from FDIC, the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC), the Department of Homeland Security Cybersecurity and Infrastructure Security Agency, and the National Institute of Standards and Technology. The panel reviewed team submissions under the criteria of creativity, effectiveness/impact, and market readiness.

    The evaluation panel for the sprint selected the following organizations as winners in the respective categories:

    Category
    Team Name
    Organizations
    Creativity Data Society Data Society, Google
    Effectiveness/Impact GRF Operational Resilience Assessment Global Resilience Federation,Secure Digital Solutions Inc.
    Market Readiness Tandem Tandem LLC,CoNetrix LLC

     

    Related Link: Press Release

     

    Keywords: Americas, US, Banking, FDITech, Market Readiness, FDITech, Regtech, Operational Resilience, FDIC, SEC, OCC

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