Financial Institution Letters
FDICconnect Registration Process Overview and Registration Instructions
Designated Coordinators (DC) and Users
There are two different types of bank access:
Each financial institution must have at least one coordinator
In order to have a coordinator, the financial institution must submit a Registration Form to the FDIC.
The coordinator grants access to other bank users.
The coordinator also executes transactions
User Access – execute transactions.
The FDIC must approve all Coordinator requests, but the FDIC plays no role in user access approval.
Coordinator Registration Process
The FDIC encourages all financial institutions that have not yet registered to use FDICconnect to do so by completing the attached Designated Coordinator (DC) Registration Form. (Please note that while an institution may have provided its Summary of Deposits or participated in a post-exam survey using FDICconnect, it may not yet have registered for continued access to the system.) This registration, by requiring the signature of an Executive Officer of the financial institution, assures that each institution’s management is aware of the principal person on their staff who “speaks for the institution” using FDICconnect. More details about the Coordinator’s responsibility are provided below. At your earliest possible convenience, please fax the completed form to (703) 465-4313.
Since the FDIC will rely on the actions taken by the Coordinator and those users who are given access to various transactions by the Coordinator, it is important that the institution choose the Coordinator carefully and that controls be implemented to address operational risks inherent in online transactions. When a Coordinator is assigned, FDICconnect staff will provide that individual with technical guidance for using FDICconnect.
After completing the registration process, the Coordinator may grant other individuals access to execute transactions on behalf of the institution. These users can be employees of the institution, the holding company, an outside data servicer or a law firm, or individuals who need to submit a beneficial ownership filing. When appropriate, such as in the case of data servicers, authorized FDICconnect users may execute transactions on behalf of more than one institution.
The steps below indicate the recommended and preferred registration steps and order:
DC registration form is received by the FDIC.
The FDIC validates authorizing official.
Welcome email with registration web link is sent to Coordinator that includes the next steps to continue the registration process.
Coordinator must complete an on-line registration form.
FDICconnect automatically sends the Coordinator a system-generated temporary PIN via email.
Coordinator must login with temporary PIN to complete the registration process, request association with the institution and choose the Coordinator registration option.
FDICconnect help desk receives email to validate institution.
Approval email is sent and access is granted.
Once a coordinator is approved, they may grant access to other bank users. The following outlines this process:
Coordinator must open the institution to allow additional user registrations and specify domains from which registration requests will be accepted (username@ bigbank.com).
Users request access through FDICconnect by completing the online registration form.
FDICconnect automatically responds with email that includes temporary PIN.
Users access FDICconnect with PIN and request association with an institution.
Coordinator receives an email and the open access request registers on the FDICconnect Coordinator dashboard.
Coordinator approves registration and association with institution.
Coordinator provides access to one or more transactions as appropriate.
FDICconnect generates an email to user indicating approval.
Coordinators and users can be associated with more than one institution; however, a Coordinator must be registered separately for each institution even if it is the same person.
Coordinator can assign access to all transactions to themselves.
Coordinator must assign access for each transaction to each user as appropriate.
Users can have access to one or more transactions for one or more institutions.