The FDIC was created in 1933 to maintain stability and public confidence in the nation's financial system. Over the last century, the FDIC has evolved to address emerging risks within the financial services sector and carry out its insurance, supervisory, and consumer protection responsibilities.
FDiTech marks a new chapter in the agency’s continued evolution and efforts to ensure safety and soundness in today’s financial market place. Innovative and transformative technologies are rapidly transforming the way banks serve their customers.
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.
bankers, fintechs, technologists, and other regulators on innovations that will lay the foundation for banking’s future
“tech sprints” and pilot projects to test emerging technologies in cooperation with states and affected federal regulators
and promote the adoption of new technologies by financial institutions, particularly at community banks
banking services to individuals in underserved communities through new technologies
FDIC Chairman Jelena McWilliams
On July 20, the FDIC announced that it is seeking the public's input on the potential for a public/private standard-setting partnership to promote the efficient and effective adoption of innovative technologies at FDIC-supervised financial institutions.Read More
On June 30, 2020, the FDIC announced a tech sprint to develop a new and innovative approach to financial reporting, particularly for community banks.Read More
FDIC Chairman Jelena McWilliams makes the case for modernizing the way banks report their financial information. Published in the American Banker on July 1, 2020.Read More