The Federal Deposit Insurance Corporation (FDIC) opened registration for its tech sprint, called FDITECH.
The tech sprint initiative is designed to identify and develop measures, data and other capabilities as a means of determining how resilient banks are to major disruptions.
The FDIC is seeking registrants charged with producing an answer regarding what are the most helpful set of measures, data, tools, or other capabilities financial institutions use to determine and to test their operational resilience against a disruption, per authorities.
Interested applicants — which the FDIC noted would include organization’s with the realm of operational resilience, financial institutions, non-profit organizations, consumer advocates, academic institutions and private sector companies — are asked to submit applications by 5 p.m. ET on Sept. 12, 2021.
Inquiries are accepted via the FDIC’s Tech Lab website, officials said. The program is called From Hurricanes to Ransomware: Measuring Resilience in the Banking World.
Teams selected for the endeavor will be invited to an initial meeting, per the FDIC, and work independently on their proposed solutions for a three week period. FDITECH is slated to host a Demo Day where teams would be slated to make presentations before a panel of judges charged with evaluating solutions.