Sprint Program

The FDITECH’s sprint program brings a diverse set of stakeholders (e.g., banks, non-profit organizations, academic institutions, private sector companies, members of the public) together in collaborative settings for a short period of time to intensely focus on challenges of importance to the FDIC. A ‘sprint’ simply refers to a short period of time (typically 2-3 weeks) where teams turn ideas into value. The FDIC will always provide 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.

Active Sprints

Measuring the Effectiveness of Digital Identity Proofing for Digital Financial Services

Digital identity proofing - the process used to collect, validate, and verify information about a natural person - is a foundational element to enable digital financial services to function properly. This element is challenged by the proliferation of compromised personally identifiable information (PII), increasing use of synthetic identities, and presence of multiple, varied approaches to perform digital identity proofing. The Federal Deposit Insurance Corporation (FDIC) and the Financial Crimes Enforcement Network (FinCEN) ask potential Tech Sprint participants to help answer the question:

“What is a scalable, cost-efficient, risk-based solution to measure the effectiveness of digital identity proofing to ensure that individuals who remotely (i.e., not in person) present themselves for financial activities are, in fact, who they claim to be?”

Learn more about the Measuring Effectiveness Tech Sprint

Past Sprints

Breaking Down Barriers:
Reaching the Last Mile of the Unbanked

August 6 — September 10, 2021

Given the challenges reaching the ‘last mile’ of the unbanked, and recognizing that community banks are uniquely positioned to meet the needs of this population but also often lack access to data and resources, the FDIC seeks tech sprint participants to help answer the question:

“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?”

Learn more about the Breaking Down Barriers tech sprint

From Hurricanes to Ransomware:
Measuring Resilience in the Banking World

October 4 — October 22, 2021

Recognizing the evolving threat environment confronting banks, and given challenges that banks face in determining their tolerance for a major disruption, the FDIC seeks tech sprint participants to help answer the question:

“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?”

Learn more about the Measuring Resilience tech sprint

Any questions about the sprints or the sprint program can be sent to innovation@FDIC.gov.