There’s more time – to Sept. 19 – to register to participate in a “tech sprint” designed to identify ways to understand how resilient banks are to major disruptions, the Federal Deposit Insurance Corp. (FDIC) said Thursday.
Interested organizations may submit applications to participate by 5 p.m. ET on Sept. 19, the agency stated.
Even though there is more time to register, the duration of the tech sprint won’t change, the FDIC said. The event was announced by the agency Aug. 16.
“After a review of applications, the FDIC’s Tech Lab (FDITECH) will invite a select number of organizations and teams, from among private and public sector experts in operational resilience, financial institutions, non-profit organizations, academic institutions, and others, to participate,” the agency said in a release. “Selected teams will attend an initial meeting and then work independently on their proposed solutions for a period of approximately three weeks.”
The agency anticipates hosting a “Demo Day” at which invited teams will make short presentations to a panel of expert judges who will evaluate their solutions.
The target for participants of the sprint, the agency said, is to identify solutions for banks to measure and test their operational resilience to any disruption. When announced last month, the FDIC indicated it hoped to identify 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.