Sprint Program


A tech sprint program brings a diverse set of stakeholders (e.g., non-profits, private sector individuals/companies, and academics) together in collaborative settings for a short period of time to intensely focus on creating solutions to challenges of importance to the organization hosting the tech sprint. A ‘sprint’ simply refers to a short period (typically 2-3 weeks) where teams turn ideas into value. The hosting organization will provide the problem statement and selected teams will devote their collective energy and expertise towards addressing specific challenges. A tech sprint will culminate with a Demonstration Day where each team shares findings with a panel of evaluating experts.

Measuring the Effectiveness of Digital Identity Proofing for Digital Financial Services


The FDIC and FinCEN thanks all of the tech sprint participants and evaluation panelists who participated in the Measuring the Effectiveness of Digital Identity Proofing for Digital Financial Services tech sprint, held from March 11, 2022 — April 4, 2022. Recordings of the participants’ demonstrations will be made available soon on this webpage.

Remotely-delivered financial services, a phenomenon already growing but accelerated by the pandemic, depend on digital technology for successful execution. Digital technology also plays a core role in the compliance aspects of remotely-delivered financial services, from client onboarding and identification, to customer due diligence and anti-money laundering responsibilities, to risk management. Cost effective and efficient technology solutions ensure these financial services are broadly available and affordable, particularly for resource-constrained firms like community banks.

Digital identity proofing 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), the increasing use of synthetic identities, and the presence of multiple, varied approaches to identity proofing. Simultaneously, technological developments are enabling dynamic identity evidence such as state mobile driver’s licenses (mDLs) or other identity credentials that are frequently updatable and interoperable, as well as behavioral analytics.

After three weeks of brainstorming and meeting with FDIC and FinCEN, eight participating teams developed solutions addressing the problem statement:

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 who they claim to be?

The tech sprint concluded with a Demonstration Day where each team demonstrated their solutions to an expert panel who evaluated them in the following categories:

Creativity Effectiveness / Impact Market Readiness

How substantively new or different is the Tech Sprint Team’s approach from those currently considered in the marketplace?

To what degree does the approach introduce a potential paradigm shift in how financial institutions and regulators can measure the effectiveness of digital identity proofing?

Does the approach present and innovative way of encouraging small to midsize financial institutions to deploy or more effectively deploy digital identity proofing technologies?

To what degree does the approach have the potential to lead to a universal set of measures with an identity proofing mechanism that may be applied and used by all financial institutions?

To what degree does the approach add value for a variety of stakeholders, particularly for small to midsize financial institutions?

To what degree does the approach protect proprietary data, including consumer data and PII?

How long would it take to bring this approach to market?

How long would it take for users, particularly community banks, to voluntarily adopt this approach?

What are the costs of implementing this approach, including but not limited to, initial adoption and ongoing validating and testing?


Teams competing included:
Team Identity Ninjas Team Manatoko Team DNS Team ConfIDence
Ricardo Aragon, LexisNexis Risk Solutions Caroline Hill, Circle Frank Cona, InfoNetworks LLC Dakota Clum, Bonifii
Chinmaya Dattathri, Robinhood Karla McKenna, GLEIF Sarah Melius, Charles Schwab & Co. Elizabeth Cronan, GeoComply
Grayson Dill, Bank of America Shirish Netke, Amberoon, Inc. Tomofumi Okubo, DigiCert, Inc. Michael Engle, 1Kosmos
Isabella Edmonds, GeoComply Max Sauve, SAS Michael Palage, InfoNetworks LLC Candler Eve, MidFirst Bank
Yona Koch-Feinberg, Chime Srinivas Shashank Mulugu, U.S. Bank Philip Quinlan, American Association of Motor Vehicle Administrators Nancy Guglielmo, Bank Policy Institute
Samir Raiyani, Vogel Privacy, Inc. John Stultz, SAS Craig Schwartz, fTLD Registry Services Tracy Manning, LexisNexis Risk Solutions
Krishna Suravaram, Robinhood Peter Warms, GLEIF Mark Svancarek, Microsoft Vadim Slavin, GlobalID
    Jaromir Talir, CZ.NIC  
Team This Is Me Team 6 Team 7 Team Heimdall
Michael Aleman, PayPal, Inc. Daniel Buchner, Block Andrew Churchill, Technology Strategy Patrick Curry, Sedicii Innovations Ltd
Diana Grinberg, MUFG Union Bank Holly Kramer, Splunk Elie Farhood, Sinsat, Inc. Casey Jennings, Seward & Kissel LLP
Nelson Hernandez, Unaffiliated Timothy Madore, HSBC North America Joe Farhood, Sinsat, Inc. Rob Leslie, Sedicii Innovations Ltd
Anthony Lam, iProov Jay Meier, FaceTec, Inc. Paul Gormley, Pacific Premier Bank Ryan Rodrigue, Wolf & Company, P.C.
Tiffany Robinson, Notarize Megan Monroe, Block Elisar Nurmagambetov, Black Ice Stephen Ritter, Mitek
Paritosh Vatsal Tripathi, Signzy Bruce Silcoff, Shyft Network, Inc. Nik Ponomareve, Black Ice Greg Woolf, FiVerity, Inc.
Mohammad Waqas Khan, Signzy Jessica Winchell, Credit First National Association Long Ye, Protivity Lisa Zeimetz, First National Bank and Trust Company

The teams selected for recognition in each of the evaluation categories, announced via a Press Release, were:

  • Team ConfIDence (Creativity)
  • Team Heimdall (Effectiveness/Impact)
  • Team 6 (Market Readiness)