October 25, 2021

FDIC: FDITECH Selects Three Teams in Sprint to Help Banks Measure and Test Resiliency

The Federal Deposit Insurance Corporation (FDIC) today announced the selection of 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 of any type. The sprint’s evaluation panel selected the following organizations as winners in the following categories:

CategoryTeam NameOrganizations
CreativityData SocietyData SocietyGoogle
Effectiveness/ ImpactGRF Operational Resilience AssessmentGlobal Resilience FederationSecure Digital Solutions Inc.
Market ReadinessTandemTandem LLCCoNetrix LLC

FDIC Chief Innovation Officer Sultan Meghji said, “Technology offers a tremendous opportunity to build a stronger, more resilient banking system. This sprint allowed our participants to design and explain some really innovative approaches to helping banks prepare for and respond to major disruptions of any kind.” 


On August 30, 2021, the FDIC’s Tech Lab, FDITECH, launched “From Hurricanes to Ransomware: Measuring Resilience in the Banking World. ” This sprint challenged participants to identify solutions for institutions of all sizes to measure and to test their resilience to major disruptions. An evaluation panel consisted of representatives from the FDIC, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, 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 following criteria:

The FDIC did not offer monetary prizes associated with this sprint. Additional questions about the sprint and the FDITECH Sprint Program can be sent to Innovation@FDIC.gov.

This post was originally published here.