FDIC Calls On Unisys Expertise

Unisys, Blue Bell, Pa., has been selected by the Federal Deposit Insurance Corp. (FDIC) on behalf of the Federal Financial Institution Examination Council agencies to modernize the current collection of bank data, known as Call Report processing, and to help the agencies transition toward a paperless, electronic environment.%A0The bank data are used in a wide range of regulatory, supervisory and analytical functions. The business-process-outsourcing contract has an initial term of seven years and is valued at approximately $28 million; the FDIC can extend it for three additional one-year periods. In addition, the FDIC can order optional technical requirements.%A0If the FDIC exercises all options and extensions, the contract will be worth approximately $39 million. Streamlining the Call Report process should help the agencies reduce paperwork and lower the cost of doing business.%A0Key to the new process is the implementation of a central data repository, using proven technologies to collect and process the bank data, as well as serve as a single source of all information related to this data submitted by financial institutions. The solution will be implemented in a Web-services architecture leveraging the Microsoft .Net framework.