Tag: Birlasoft

Leveraging Technology to Become Agile in the Face of FDIC 370 Mandate

Banking, Finance, Insurance, Column
Author: Sanjay Bajaj, Senior Vice President, BFSI, Birlasoft The FDIC 370 mandate calls for massive transformation in banks' governance and data collation capabilities. With a stringent deadline in place, digital intervention is essential to help banks meet compliance standards. At Birlasoft, we believe that a flexible reporting solution holds the key.  The recent spate of regulatory changes announced by the Federal Deposit Insurance Corporation (FDIC) calls for a large-scale transformation in banking processes. Last year, the FDIC introduced Part 370 of its rules and regulations for "Recordkeeping for Timely Deposit Insurance Determination." Specifically, it brings large banks under the ambit of the new law. The core purpose of Part 370 is to help FDIC fulfill its two mandates rel...