(Reuters) – The Federal Deposit Insurance Corporation has begun tracking more closely financial technology companies that partner with banks across the United States, Bloomberg News reported on Wednesday.
An internal database will help FDIC examiners track third parties that work with banks and anticipate potential vulnerabilities before they become a problem, the report added, citing people familiar with the regulator’s oversight operations. . The FDIC does not directly regulate fintech companies.
An FDIC spokesperson declined to comment on internal processes.
(Reporting by Disha Mishra in Bangalore; editing by Rashmi Aich and Jonathan Oatis)