The Federal Deposit Insurance Corporation (FDIC) today announced the selection of 14 technology companies to compete in the next phase of the agency’s Rapid Prototyping Competition, a tech sprint designed to develop an innovative new approach to financial reporting, particularly for community banks.
The FDIC has awarded initial contracts to the following companies:
- Accenture Federal Services, LLC
- ACTUS Financial Research Foundation, Inc.
- Amberoon, Inc.
- Donnelley Financial, LLC
- DSQuorum, LLC (Data Society)
- Fed Reporter, Inc.
- Fidelity Information Services, LLC
- First Data Government Solutions, LP (Fiserv)
- Neocova Corporation
- Novantas, Inc.
- Palantir Technologies Inc.
- Synthetic P2P Holding Corporation (PeerIQ)
- S&P Global Market Intelligence, LLC
- TrueTandem, LLC
The objective of the Rapid Prototyping Competition is to develop technology for a timelier and less burdensome financial reporting process. Once completed, the system would better equip regulators to detect signs of risk and to take early actions designed to protect consumers, banks, the financial system and the economy.