FDIC Advisory Committee on 

Community Banking 

November 3, 2021 

FDITECH Update 
Four Key Pillars 

Data is the new capital. The question for industry is how to best utilize data and technology to meet consumer demands. The 

question for regulators is how to allow industry to do so while maintaining safety, soundness, and consumer protection. 

FDITECH will bridge that gap. 

INCLUSION RESILIENCE AMPLIFICATION PROTECTING THE 

FUTURE 

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Complete ACTIVE 

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Rapid Phased Prototyping (RPP) 

Prototyping Process 

Sample Status: 

Concept Paper 

Initial Prototype 

Final Prototype 

Pilot Prototype 

Sample Timeline: Day 0 Day30 Day 60 Day 120 Day 

180+ 

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FDITECH Sprint Program 

A ‘sprint’ simply refers to a short period of time (typically 2-3 weeks) where teams turn ideas into value. The FDIC provides a 

problem statement and selected teams will devote their collective energy and expertise towards addressing specific 

challenges. Typically, a tech sprint will culminate with a Demonstration Day where each team shares findings with a panel of 

evaluating experts. 

INCLUSION SPRINT RESILIENCE SPRINT 

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FDITECH Sprint #1: Breaking Down Barriers:

Reaching the Last Mile of the Unbanked 

• Held August 6 – September 10, 2021 

• Eight teams participated, including non-profit organizations, tech companies, MDIs, and CDFIs 

Problem Statement: “Which data, tools, and other resources could help community banks meet the needs 

of the unbanked in a cost-effective manner, and how might the impact of this work be measured?” 

Outcomes: 

• Supported early-stage ideas and furthered development of solutions to reach the unbanked, many of which 

have plans to launch in the next ~6 months 

• Gave FDIC insight into emerging trends around serving unbanked households as well as barriers that still 

exist 

• Shared publicly-available FDIC resources with participants to help spread awareness of data and research 

that exists 

• All demo presentation recordings will be made publicly available on the FDITECH website to encourage 

future collaboration 

• Lessons learned for future tech sprints 

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FDITECH Sprint #2: From Hurricanes to Ransomware: 

Measuring Resilience in the Banking World 

Launched August 16 – End: October 22, 2021 

Problem Statement: “What would be the most helpful set of measures, data, tools, or other capabilities for 

financial institutions, particularly community banks, to use to determine and to test their operational resilience 

against a disruption?” 

Expected outcomes: 

• Identify opportunities to leverage emerging technologies to mitigate resilience risk 

• Highlight importance of operational resilience to small and midsize financial institutions 

• Promote data and measures that can be used to determine the operational resilience of all institutions to 

major disruptions 

• Lay the foundation for future tech sprints to foster stronger resiliency in banking 

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