‘Supervision modernization’ group meets for first time with eye on leveraging technology

A group focusing on supervision modernization through technology held its first meeting Tuesday and Wednesday, the Federal Deposit Insurance Corp. (FDIC) said, with a look at existing technology and data sources used by the agency to conduct examinations.

The ultimate goal of the group – the Subcommittee on Supervision Modernization – according to the agency, is to consider how the agency can “leverage technology and refine processes to make the examination program more efficient, while managing and training a geographically dispersed workforce.”

The agency said the subcommittee, which counts 15 members largely from banks and technology consulting groups, will meet in person at least three times in 2019 (with conference calls or smaller group briefings scheduled to supplement in-person discussions).

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