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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

CIO Organization Strategic Plan 2020-2023: IT Landscape

IT Landscape

Research was conducted across agencies, other financial regulators, and the financial and banking industry, to find operational, economic, and technological trends that drive the way IT services are delivered.

Information Technology Trends

Three major IT trends are changing how IT enables businesses cross-industry: mobility, cloud technology, and data management. These three trends have become fundamental to modern IT service delivery and continue to be a major federal government focus as agencies modernize and enhance their IT capabilities.

IT Service Delivery

Today, annual federal IT budgets continue to spend more on operations and maintenance of current IT capabilities leaving less to mitigate the critical risks of technological obsolescence and to develop new and enhanced IT applications. IT organizations must take a critical look at the cost of operating and maintaining their existing IT infrastructures and legacy application systems and seek opportunities to improve efficiency through the implementation of new or enhanced capabilities. This is causing many agencies to consider newer operating models, such as shared or managed IT services, to reduce the costs of ongoing operations and maintenance and free up additional resources.

Portfolio management challenges continue to exist. These include the immediate need to address the performance shortcomings or deficiencies of existing applications before attention can be given to concerns about technology obsolescence and application modernization. In some cases, this may involve the replacement of current applications with modular solutions in a shared services environment. Clear criteria and repeatable processes are required to assign priority for these actions consistent with available resources.

In many cases, traditional development and delivery techniques are being replaced with rapid experimentation and capability delivery. Agile methodologies that enable incremental development can lower upfront costs and provide more opportunities to introduce innovation with each successive release of an application.



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