Penny Crosman

Executive Editor, Technology at American Banker and Arizent

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Penny Crosman is Executive Editor, Technology at American Banker and Arizent. Prior to taking on this role, she was Editor in Chief of Bank Technology News and Technology Editor of American Banker. She has held senior editorial roles at Bank Systems & Technology, Wall Street & Technology, Intelligent Enterprise and Network Magazine, among other titles.

Consumer banking

Challenger bank Upgrade will reward credit card holders for repaying debt

Renaud Laplanche's fintech will give borrowers cash back when they lower their loan balances.

By Penny Crosman

October 29
Blockchain

JPMorgan Chase reorganizes blockchain units

After selling the rights to its Ethereum-based technology, the bank is rebranding a venture related to cross-border payments and creating a new umbrella group to oversee all blockchain-related efforts.

By Penny Crosman

October 28
Digital banking

HSBC ramps up digital banking for businesses

The global bank has rolled out cash-flow forecasting tools as financial institutions race to meet urgent demands from commercial customers trying to navigate uncertain times.

By Penny Crosman

October 27
Financial regulations

Gene Ludwig's plan for saving the American Dream

Ludwig, an ex-banking regulator and CEO of Promontory Financial Group, describes how economic conditions for middle- and low-income Americans have declined and advocates a living wage, investment in infrastructure, smart regulation and other solutions.

By Penny Crosman

October 26
Fintech

Should banks be worried about skyrocketing fintech valuations?

Speculation is part of the reason for the growing differential in market capitalization between legacy financial institutions and upstarts. But one venture capitalist says it's "a call to action" for traditional banks to match fintechs' all-digital, customer-friendly services.

By Penny Crosman

October 26
Digital banking

Google, IBM rush to sell banks cloud software

As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers.

By Penny Crosman

October 22
Cryptocurrencies

BNP Paribas out front on digital asset storage

National banks just got the OCC's go-ahead this summer to hold and transfer digital assets like bitcoin for customers, but the Paris-based bank has already vetted the technology needed to do the job.

By Penny Crosman

October 20
Fintech

An attempt to make point-of-sale payment devices obsolete

MagicCube’s i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services.

By Penny Crosman

October 19
Digital banking

BofA adapting consumer tech for use with corporate clients

Bank of America is applying a familiar arsenal — including APIs and its popular virtual assistant, Erica — to online business banking, cross-border payments and cash management in an effort to modernize those services.

By Penny Crosman

October 15
Challenger Bank

SoFi launches social network for investors

Clients of the challenger bank's robo-adviser are able to see one another's trades, add comments and watch a leaderboard of top investors.

By Penny Crosman

October 14