Agency TechSprints

The Federal Deposit Insurance Corporation (FDIC) announced a rapid prototyping competition approach to simplify and automate the Call Report. Similar to an extended version of a “TechSprint” or “hackathon,” twenty technology firms across the country have been invited to innovate digital financial reporting.

The CFPB announced two TechSprints: The first, October 5-9, 2020 is to develop and test innovative delivery of adverse action notices required under the Equal Credit Opportunity Act and the Fair Credit Reporting Act. The second, March 22-26, 2021, is to develop an open and transparent code base to expand the utility of Home Mortgage Disclosure Act (HMDA) data.

November 8, 2019 — FINRA, Deloitte and the MIT Fintech Club kicked off an innovative event aimed at leveraging fintech in service of making investors smarter and safer. The Buildathon paired industry technologists and compliance leaders with high performing technology students from MIT, Harvard, and other Boston institutions for a hackathon-style competition. David Ehrich was a judge at this event.

The FCA has been the thought leader in adapting hackathons for the regulatory community. They have conducted seven TechSprints since 2016 on a broad range of issues of regulatory importance.