Tandem Receives Award in FDIC Tech Sprint on Resilience

LUBBOCK, Texas, Oct. 26, 2021 /PRNewswire-PRWeb/ -- The Federal Deposit Insurance Corporation (FDIC) selected Tandem's incident management software as one of three solutions that can help the banking industry become more resilient in the event of a disruption.

The FDIC's Tech Lab (FDITECH) launched a challenge called "From Hurricanes to Ransomware: Measuring Resilience in the Banking World" in which they encouraged companies to submit new technology solutions that would help community banks become more resilient in the event of a disaster. Companies were required to submit a proposal for a chance to be selected as one of six companies to participate in the challenge. Companies that were selected were then given three weeks to ideate ways to solve the problem and then present to a panel of industry experts who would judge the submissions based on creativity, effectiveness and impact, and market readiness.

CoNetrix, LLC and Tandem, LLC participated together and submitted a proposal to expand Tandem's existing incident management software product. Other teams included representatives from Google, Amazon Web Services, and RSM to name a few.

The FDIC selected Tandem Incident Management as the winner for Market Readiness.

"We wanted to develop a solution that any financial institution, small, medium, or large, could implement quickly in order to reduce the impact of incidents," commented Russ Horn, President of CoNetrix. "We are extremely honored to be recognized by the FDIC as a technology solution that is available to financial institutions to help solve this growing, complex problem."

The following is the full list of organizations who were selected as winners during the technical challenge:

Category - Effectiveness / Impact
Team - GRF Operational Resilience Assessment
Organizations - Global Resilience Federation, Secure Digital Solutions Inc.

Category - Creativity
Team - Data Society
Organizations - Data Society, Google

Category - Market Readiness
Team - Tandem
Organizations - Tandem LLC, CoNetrix LLC

About Tandem Incident Management
Tandem Incident Management is software for creating an incident response plan and tracking incidents as they occur. The product helps companies be proactive in their cyber resilience strategy. The user-friendly platform provides helpful features and recommendations based on the National Institute of Standards and Technology (NIST) SP 800-61 Rev. 2, Computer Security Incident Handling Guide. With a straight-forward method for creating a plan to handle incidents, alongside the ability to track response processes when incidents occur through the six stages outlined by NIST, Tandem Incident Management offers an all-in-one incident response solution, designed with security professionals in mind.

About Tandem
Tandem is a web-based application designed to help with information security governance, risk, and compliance management. Companies who need to comply with information security regulations can easily manage regulatory compliance, improve information security, and lower overhead costs. Service providers are invited to partner with Tandem through the Tandem Partner Program. By partnering with Tandem, information security consultants can provide a more streamlined experience for their clients. Tandem is developed by Tandem, LLC, a CoNetrix company.

Tandem Software Products

• Audit Management
• Business Continuity Planning
• Compliance Management
• Cybersecurity
• Identity Theft Prevention Program
• Incident Management
• Internet Banking Security
• Phishing
• Policies
• Risk Assessment
• Social Media Management
• Vendor Management

About CoNetrix
CoNetrix, LLC is a family of technology companies. CoNetrix Technology offers managed IT services as well as a suite of secure cloud computing offerings marketed as Aspire. CoNetrix Security provides information security consulting and testing to financial institutions. Tandem Security & Compliance Software® is online software helping organizations comply with information security requirements and regulations. AccountingWare offers a suite of accounting software (ERP) modules to companies throughout the United States and Canada.

Media Contact

Brian Whipple, Tandem, LLC, 806-687-8600, [email protected]

SOURCE Tandem, LLC