On May 5, 2025, the OCC issued a request for information (RFI) on the key challenges and barriers faced by community banks in the adoption and implementation of digital banking solutions. The OCC said that the RFI will help the OCC better understand the specific obstacles that community banks encounter in their efforts to modernize operations, enhance customer experience, and remain competitive in an increasingly digital financial services environment.
The OCC invites community banks, industry groups, technology providers, and other interested parties to respond to questions relating to the following topics:
Planning for Digitalization;
Board and Governance;
Due Diligence and Implementation;
Digitalization Costs and Budget;
Use of Third Parties;
Competition and Market Trends;
Use of Artificial Intelligence and Machine Learning;
Effect of Applicable Laws and Regulations;
Associated Risks; and
Data Sharing.
Read the OCC’s announcement here.
The RFI can be found here.