The Bank Technology Operations Committee

CO-CHAIRS
Roy Taylor
Enterprise Architecture,Fargo Bank

FSTC MANAGING EXECUTIVES
Dan Schutzer
John Fricke

The Bank Technology Operations Standing Committee (“BT SCOM”) works collaboratively to address enterprise scale architecture and technology issues. Leading financial services organizations face many of the same technology issues involving business necessities such as regulatory compliance (e.g. Sarbanes-Oxley). Other challenges involve what the OCC calls “Technology Risk Management.” Still others deal with understanding and integrating emerging technologies, complex linking of technology architecture to business issues, and managing and reducing the overall complexity of technology.

As an industry-wide community of senior enterprise architects, technologists, financial-institution executives, and FSTC-member technology companies, the BT SCOM will provide its members with opportunities to network on “hot button,” “over the horizon” issues and best practices; learn through teleconferences and workshops; and formally investigate technologies, requirements, and business solutions through collaborative research projects.

Most importantly, the BT SCOM will give the industry a way to address common issues collectively rather than in a vacuum, including:

• Industry-Wide Efficiency and Risk Mitigation. The collaborative nature of the BT SCOM will increase the efficiency of individual institutions and the industry as a whole. It will also optimize the risk management associated with the industry's vast operational and technological interconnectivity.
• Collaborative Regulatory Compliance Approaches. Because compliance and regulatory issues affect all institutions in many of the same ways, collaboration via the BT SCOM will reduce the costs of regulatory compliance and regulatory issues for the entire industry.
• Consistent Business Requirements. Consistent articulation of industry requirements to technology vendors through the BT SCOM will result in products that better meet the needs of the industry and at reduced cost.
• Articulation of Common Service Definitions. In the emerging world of “software as a service,” the industry can potentially reap significant strategic benefits by using the BT SCOM to craft a common set of requirements for some software services.

Current Projects

ODIN technologies has discussed FSTC's desire to provide guidance to members adopting radio frequency identification (RFID) technology to drive efficiency, accuracy, and security. The member banks are looking for a numbering strategy, and a performance baseline. The goal is to create an incentive for hardware vendors such as Dell, HP, and others to pre-tag and pre-number assets prior to shipping.

Projects in Formation

There are currently no Projects in Formation.

Projects under Development

FSTC wants to form an interest group to explore various scenarios or use cases. Based on the use cases the initiative might take a number of directions including exploration of topics such as:

FSTC is working with several CAC and the Fed in the definition phase of defining a standard for the industry in Bag Tracking and Cash Vault integration.

Follow on to Authenticating the FI to the Consumer project using strong FI authentication to move to white listing mode.

Best practices on how to standardize the report of compliance..

Projects Recently Completed

There are currently no Projects Recently Completed.

For further information, please Contact Dan Schutzer or John Fricke.

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