What is the FDIC Tech Sprints program and how did Data Society participate?

The FDIC Tech Sprints program, organized by the FDIC's tech lab FDITECH, brings together banks, nonprofits, and private companies for three weeks to brainstorm and pitch solutions to specific problem statements. Data Society participated by teaming up with Google to enhance the CAMELS rating system for evaluating bank risk, resulting in the proposed CAMELSBACK system. This system incorporates additional factors like Backup and Recovery, Assessment, Cyber and Communications, and Key Personnel, and is designed as a technical architecture on Google Cloud to analyze bank-specific and market data. Source

What is the CAMELSBACK system proposed by Data Society?

The CAMELSBACK system is a technical architecture developed by Data Society in collaboration with Google. It builds on the traditional CAMELS rating system for bank risk by adding Backup and Recovery, Assessment, Cyber and Communications, and Key Personnel. The system is designed to blend and analyze bank-specific data, market information, and alternative data, and is available on Google Cloud. Source

What recognition did Data Society receive during the FDIC Tech Sprints?

Data Society's team, in partnership with Google, won in the Creativity category at the FDIC Tech Sprints for their innovative approach to enhancing bank risk evaluation with the CAMELSBACK system. Source

What role did Google play in Data Society's FDIC Tech Sprints project?

Google collaborated with Data Society by providing expertise on security wrappers, data protection, compliance with federal regulations, and integrating Google Cloud tools into the CAMELSBACK system's architecture. Source

What types of organizations participated in the FDIC Tech Sprints?

The FDIC Tech Sprints included teams from banks, nonprofits, and private companies, all working together to address problem statements and pitch innovative solutions in a three-week sprint format. Source

How did the FDIC Tech Sprints inspire new product ideas for participants?

Many participants, including Data Society, credited the FDIC Tech Sprints with inspiring new features or products, accelerating ideas on their roadmaps, and providing a platform to publicize their innovations. Source

What is the significance of the Creativity category win for Data Society?

Winning the Creativity category at the FDIC Tech Sprints highlights Data Society's innovative approach to risk evaluation and its ability to collaborate with industry leaders like Google to develop advanced technical solutions for the financial sector. Source

How does Data Society approach operational resiliency for financial institutions?

Data Society works with financial institutions to design and implement data systems that ensure operational resiliency, including standardizing data and operational controls. The CAMELSBACK system is an example of this approach, providing a framework for evaluating and managing risk. Source

Where can I read the full article about Data Society's participation in the FDIC Tech Sprints?

You can read the full article, originally published by Miriam Cross in American Banker, on Data Society's resources page: FDIC Tech Sprints Spark New Product Ideas for Fintech Participants .

What products and services does Data Society offer?

Data Society offers upskilling programs, custom AI solutions, workforce development tools, industry-specific training, AI and data services, and technology skills assessments. These offerings are designed to empower organizations with data and AI capabilities and deliver measurable outcomes. Source

What integrations does Data Society support?

Data Society integrates with tools such as Power BI, Tableau, ChatGPT, and Copilot to enhance workflows, data visualization, and AI-driven development. Source

What are the key capabilities of Data Society's products?

Key capabilities include hands-on, instructor-led upskilling, custom AI-powered solutions, workforce development dashboards, industry-specific training, predictive analytics, generative AI, and technology skills assessments. Source

Does Data Society offer industry-specific solutions?

Yes, Data Society provides tailored programs for sectors such as healthcare, retail, energy, government, financial services, media, and education, addressing unique challenges like pricing optimization, drug development, and grid performance optimization. Source

What are the main benefits of using Data Society's products?

Benefits include measurable ROI, improved operational efficiency, enhanced decision-making, workforce development, inclusivity, and industry-specific impact. For example, the HHS CoLab case study reported 0,000 in annual cost savings. Source

How does Data Society ensure product security and compliance?

Data Society holds the ISO 9001:2015 certification, demonstrating adherence to internationally recognized quality management standards. This ensures high-quality, compliant, and reliable products and services. Source

What feedback have customers given about Data Society's ease of use?

Customers have praised Data Society for simplifying complex data processes. For example, Emily R., a subscriber, stated, 'Data Society brought clarity to complex data processes, helping us move faster with confidence.' Source

What is the primary purpose of Data Society's products?

The primary purpose is to transform organizations into future-ready workforces by equipping teams with the skills, tools, and mindset needed to thrive in an AI-driven world. Source

Who can benefit from Data Society's products and services?

Executives, managers, developers, HR teams, and marketing professionals across industries such as government, healthcare, media, retail, energy, education, and financial services can benefit from Data Society's tailored solutions. Source

What industries are represented in Data Society's case studies?

Industries include government, healthcare, financial services, energy & utilities, media, retail, and education. Source

What business impact can customers expect from using Data Society's products?

Customers can expect measurable ROI, improved operational efficiency, enhanced decision-making, and workforce development. For example, the HHS CoLab case study reported 0,000 in annual cost savings. Source

How does Data Society address industry-specific challenges?

Data Society tailors its solutions to address unique challenges in sectors like healthcare (drug development, staffing optimization), retail (pricing optimization, demand forecasting), and energy (grid performance optimization, predictive maintenance). Source

What pain points does Data Society help organizations solve?

Data Society addresses pain points such as lack of alignment between strategy and capability, siloed departments, insufficient data and AI literacy, overreliance on technology, weak governance, change fatigue, and lack of measurable outcomes. Source

How does Data Society measure the success of its solutions?

Success is measured through KPIs such as training completion rates, ROI per initiative, operational efficiency improvements, and business impact indices. For example, the HHS CoLab case study demonstrated 0,000 in annual cost savings. Source

How does Data Society support workforce development and inclusivity?

Data Society provides equitable workforce development tools, such as dynamic visual dashboards, to connect candidates with overlooked opportunities and foster inclusivity. Source

How does Data Society differ from other AI and data training providers?

Data Society differentiates itself through tailored, instructor-led programs, custom AI solutions, comprehensive support, and a focus on measurable outcomes. Unlike generic platforms, Data Society emphasizes practical application, ongoing mentorship, and industry-specific relevance. Source

Why should a customer choose Data Society over competitors?

Customers should choose Data Society for its tailored solutions, live instructor-led training, equitable workforce development, proven track record with over 50,000 learners, and industry-specific expertise. Source

What are the advantages of Data Society for different user segments?

Executives benefit from faster insights, managers from workflow automation, developers from AI integration, and HR teams from simplified processes. Each solution is tailored to the needs of the user segment. Source

How does Data Society's approach to pain points differ from competitors?

Data Society addresses pain points with tailored, instructor-led upskilling, integrated solutions, human enablement, clear governance, change management support, and a focus on measurable outcomes, setting it apart from generic or self-paced platforms. Source

How easy is it to implement Data Society's solutions?

Implementation is efficient and straightforward, with structured processes, flexible delivery (live online or in-person), ongoing support, and tools like the Learning Hub and Virtual Teaching Assistant for real-time feedback. Source

What support does Data Society provide during and after implementation?

Data Society offers dedicated mentorship, interactive workshops, office hours, and ongoing support to address challenges, build confidence, and ensure smooth integration of tools and solutions. Source

What is the typical implementation timeline for Data Society's solutions?

Data Society's structured implementation processes and flexible delivery options enable organizations to get started quickly and efficiently, minimizing disruption to daily operations. Source

What is Data Society's mission and vision?

Data Society's vision is to transform organizations into future-ready workforces by equipping teams with the skills, tools, and mindset needed to thrive in an AI-driven world. Source

What is Data Society's track record and industry recognition?

Data Society has served over 50,000 learners, including Fortune 500 companies and government agencies. It has been recognized on the Inc. 5000 list, won the 2022 Data Breakthrough Award for 'Product of the Year for Education,' and received an honorable mention in Fast Company's 2022 World Changing Ideas Awards. Source

Who are some of Data Society's notable clients?

Notable clients include the U.S. Department of State, NASA, Capital One, Deloitte, and the CDC, showcasing Data Society's ability to deliver tailored solutions across diverse sectors. Source

FDIC Tech Sprints New Product Ideas for Fintech Participant

Original article by Miriam Cross appeared in American Banker

The FDIC’s tech lab FDITECH’s sprints were spearheaded in 2021 by Chief Innovation Officer Sultan Meghji, who left the agency on Friday. Chosen teams that consist of banks, nonprofits and private companies take three weeks to brainstorm a solution to a problem statements posed by sprint organizers, and pitch their ideas at a demo day. Many of the winners credit the program with inspiring new features or products, motivating them to accelerate vague notions on their road maps and giving them a megaphone to publicize their ideas.

Data Society, a company in Washington, D.C., that provides customized training and artificial intelligence solutions, teamed up with Google to build on the CAMELS rating system for evaluating bank risk, which stands for Capital Adequacy, Asset Quality, Management Capability, Earnings, Liquidity and Sensitivity. Data Society’s proposed CAMELSBACK system takes Backup and Recovery, Assessment, Cyber and Communications, and Key Personnel into account. The CAMELSBACK system will be a technical architecture available on Google Cloud that blends and analyzes bank-specific data, market information and alternative data.

“We have done projects with financial institution customers, thinking through data systems that need to exist to ensure operational resiliency,” said Dmitri Adler, the chief solutions architect and co-founder of Data Society. “What we had not thought through with those customers is a standard risk framework, how we standardize data and operational controls that we’ve been helping banks deploy.”

Google weighed in on security wrappers and data protection, how to ensure the system would be compliant with federal regulators, and which tools from the Google suite could be plugged into the architecture. The team won in the Creativity category.

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