FDITECH Launches Tech Sprint to Reach More Unbanked People

On Wednesday, June 16, 2021, the FDIC announced a ‘tech sprint’ designed to explore new technologies and techniques that would help expand the capabilities of banks to meet the needs of unbanked individuals and households.

The FDIC‘s tech lab, FDITECH, is launching a first-of-its-kind tech sprint by challenging participants to identify better resources and tools to help banks get unbanked households into the banking system and to keep them banked. Banks, non-profit organizations, academic institutions, private sector companies, and others are invited to participate. Read more about FDITECH’s tech sprint, Breaking down Barriers: Reaching the Last Mile of Unbanked U.S. Households.

“While most people deal with money every day, many are still unbanked,” said FDIC Chairman Jelena McWilliams. “This tech sprint is a public challenge to reach that ‘last mile’ of unbanked Americans.”