Tandem Receives Award in FDIC Tech Sprint on Resilience

The Federal Deposit Insurance Corporation (FDIC) selected Tandem's incident management software as one of three solutions that can help the banking industry become more resilient in the event of a disruption.

The FDIC's Tech Lab (FDITECH) launched a challenge called "From Hurricanes to Ransomware: Measuring Resilience in the Banking World" in which they encouraged companies to submit new technology solutions that would help community banks become more resilient in the event of a disaster. Companies were required to submit a proposal for a chance to be selected as one of six companies to participate in the challenge. Companies that were selected were then given three weeks to ideate ways to solve the problem and then present to a panel of industry experts who would judge the submissions based on creativity, effectiveness and impact, and market readiness.

CoNetrix, LLC and Tandem, LLC participated together and submitted a proposal to expand Tandem's existing incident management software product. Other teams included representatives from Google, Amazon Web Services, and RSM to name a few.

The FDIC selected Tandem Incident Management as the winner for Market Readiness.

"We wanted to develop a solution that any financial institution, small, medium, or large, could implement quickly in order to reduce the impact of incidents," commented Russ Horn, President of CoNetrix. "We are extremely honored to be recognized by the FDIC as a technology solution that is available to financial institutions to help solve this growing, complex problem."

The following is the full list of organizations who were selected as winners during the technical challenge:

For more information about managing incidents, check out Tandem Incident Management. Featuring supplemental checklists (e.g., data breach, fraud, third party, etc.), a robust framework based on the NIST Computer Security Incident Handling Guide, and integration with other Tandem products, Tandem can help put your organization ahead of the curve for managing incidents.