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Penny Crosman

Editor in Chief

Penny Crosman is Editor in Chief of Bank Technology News and Technology Editor of American Banker. She has had senior editorial roles at Bank Systems & Technology, Wall Street & Technology, Intelligent Enterprise and Network Magazine, among other titles.

Recent Stories from This Author

Collaborators Outnumber Would-Be Disruptors at Fintech Demo Event
July 21, 2016 Of the 10 fintech startups that pitched their wares at startupbootcamp FinTech New York on Wednesday, half plan to sell their...

'Front Lines of a War': Bank CISOs Reinforce Budgets, Tech
July 19, 2016 Bank chief information security officers are increasing cybersecurity spending and focusing on mobile banking defense and...

State Street Tests a 'Rosetta Stone' for Bank Databases
July 14, 2016 David Saul, State Street's chief scientist, has completed a proof of concept for the Financial Industry Business Ontology, a...

Sent in Seconds, Not Days: Canadian Bank Tries Distributed Ledger
July 12, 2016 The director of innovation at ATB Financial explains why his bank became one of the first to send cross-border payments on the...

'Dead People Don't Pay': Tech Takes On Marketplace Lending Fraud
July 7, 2016 A centralized platform that validates loan and borrower data and tracks ownership of marketplace loans could prevent...

Hack Us and We'll Pay You: The Case for Using Bug Bounty Hunters
July 5, 2016 Banks have mainly shied away from programs that invite hackers to scrutinize their applications. But PayPal, Western Union and...

How Banks Could Regain Ground from Fintechs
June 30, 2016 Some business that's been ceded to fintech startups such as marketplace lenders and financial app providers can be won back,...

How B of A's Billion-Dollar Tech Cuts Could Fuel Startups
June 28, 2016 Chief Technology Officer David Reilly has had to make major reductions in traditional expenses so Bank of America can afford...

'Data Wants to Be Free': Why Banks Should Open APIs to Others
June 23, 2016 Fourteen years after Jeff Bezos famously put out a memo to all of Amazon's software development teams, ordering them to create...

What Can Banks Offer in the Debate Over Digital Identity?
June 21, 2016 Most would agree the way digital identity is managed is suboptimal. But how identity should be managed, and who should manage...

Should All Banks Have Mobile Apps?
June 16, 2016 The answer may be no, according to federal regulators. Their new guidelines on mobile security include other surprises, too,...

Will Fintechs Kill the FICO Score?
June 14, 2016 A growing number of marketplace lenders and other fintech companies say they no longer use FICO scores or are using them in a...

Identity Fraud: Back with a Vengeance, Harder to Stop
June 9, 2016 Many financial criminals are switching to a more sophisticated kind of identity theft in which they open accounts based on...

'Banks Don't Want to Give Access to Everything': Yodlee Exec
June 7, 2016 Following Wells Fargo's salvo against screen scraping, one of the leading account aggregators says the larger issue is who has...

Wells Fargo's Bid to Vanquish Screen Scraping
June 7, 2016 The archaic practice of using customers' online banking credentials to copy and paste their account information into other...

Uber's Phishing Tale Can Teach Banks a Lot About Security
June 2, 2016 Some days the ride-sharing app receives more than a million phishing emails a stat to which large banks can relate. But...

Real Breach in Swift Heists May Be Banks' Complacency
June 1, 2016 The drumbeat of news about hackers stealing millions of dollars by gaming the Swift interbank messaging system should have...

APIs? Check. Fast Payment Portals? Check. Knife Sharpener? Check
June 1, 2016 Suresh Ramamurthi has launched a new payment system for healthcare providers and APIs that let other companies create their...

Is Mobile Account-Opening Safe?
May 26, 2016 Consumers, especially millennials, increasingly prefer to do everything on their mobile devices, including signing up for...

An Obscure Data Standard that Could Have Stopped the London Whale
May 24, 2016 Former regulators, data scientists and academics have come up with a way to turn financial contracts of almost all types into...

Why Banking the Middle Class Is No Longer Profitable
Regulatory burdens (particularly the Durbin interchange cap), stubbornly low interest rates and a slow, expensive transition from branch to digital banking mean only the wealthy and the desperate are attractive customers, says Todd Baker of Broadmoor Consulting.
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