How to gain more from operational risk management practices.
Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.
Competition to develop innovative financial reporting
The FDIC announced on Tuesday a rapid prototyping competition to help develop a new and innovative approach to financial reporting, particularly for community banks.
The agency has invited 20 technology firms to participate. They will develop proposed solutions over several months for consideration by the FDIC. The agency intends that the modern tools developed in this and future competitions "will help make financial reporting seamless and less burdensome for banks, provide more timely and granular data to the FDIC on industry health, and promote more efficient supervision of individual banks."