Q: What is the purpose of the FSTC Standing Committees?
Standing Committees provide an opportunity for FSTC members to hold open discussions on topics of common interest.
Q: What do Standing Committees do?
They bring forward information about current and future products and services in the marketplace, define areas where additional development is required, and engage both financial institutions and the technology companies in collaborative efforts to improve the functionality and availability of upcoming products and services.
Q: How are the standing committees organized?
A committee is led by two co-chairs representing a principal member and a vendor member, in addition to an FSTC executive. The chairs are responsible for guiding discussions to determine a topic's applicability to both the organizationa as a whole and to individual members (financial institutions, vendors, and advisory organizations). As these topics develop into projects, the project details, including deliverables, are communicated to the FSTC Executive Committee through regular communications with the Executive Committee liaison to the Advisory Council.
Q: How often to the standing committees meet?
The standing committees meet face-to-face twice a yea. At times, that may coincide with the FSTC General Meetings. The committees will also meet via conference call at least once a month. More frequent meetings can be scheduled at the discretion of each standing committee.
