Penny Crosman is Executive Editor, Technology at American Banker and its publisher, Arizent. Prior to taking on this role, she was Editor in Chief of Bank Technology News. She has held senior editorial roles at Bank Systems & Technology, Wall Street & Technology, Intelligent Enterprise, Network Magazine and Imaging Magazine.
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Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
8h ago - Banking as a service is expensive, it takes time and onboarding has to be done carefully, says the founder of Bancorp Bank, who now runs a venture capital firm that invests in fintechs.Sponsored by IntraFi
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Tests of models from OpenAI, Google and others found their advice tends to disadvantage names commonly associated with racial minorities and women.
April 18 -
The Securities and Exchange Commission has asked a judge to impose a penalty on Ripple that roughly matches the amount of profit the agency estimates Ripple and its leaders made from sales of XRP, which the SEC says are unregistered securities.
April 10 -
Cloud-based tech giants like Amazon, Google and Uber are changing the economy, and not for the better, asserts Yanis Varoufakis, a former finance minister of Greece and a professor at the University of Athens, who has written a book about the dangers of what he calls the "cloudalists."
April 9 -
A new, free leaderboard created and continuously updated by the Kensho team at S&P Global gives people in the financial industry a sense of which generative AI models work best for specific use cases.
April 4 -
The steady drumbeat of consent orders against banks that offer banking as a service continues, with regulators telling banks to keep a closer eye on their fintech partners' compliance with the Bank Secrecy Act and money laundering rules.
March 29 - Only a third of Americans are financially healthy, according to Tescher, who founded the Financial Health Network 20 years ago. But while some financial technology innovations are helping, others are more questionable.Sponsored by IntraFi
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The credit bureau's Argus unit collected the bank's credit card data on behalf of regulators, then used it in the benchmarking service it sells to other banks, the bank says. The suit comes at a time when bank data is becoming increasingly open, at least in theory.
March 25 -
False information, job losses, diminishing skills and human interaction, among other concerns, have bankers worried about deploying both generative artificial intelligence, like ChatGPT, and more long-accepted forms of AI like machine learning, according to a new survey of American Banker readers.
March 18