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.

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
Digital banking

Fintech partnerships help TD weather the pandemic

Mobile and online banking technologies that the Toronto bank previously rolled out, including a virtual assistant developed by Kasisto and money management tools made by Moven, have become much more popular since the arrival of COVID-19.

By Penny Crosman

October 13
Private banks

How Ida Liu is bringing billionaires to Citi’s private bank

The unit as of September had 20% more clients than a year earlier. Liu, who is head of North America for Citi Private Bank, explains the changes she’s made to help her group attract and serve millennials, Gen Z, Asian Americans and families.

By Penny Crosman

October 12
Challenger Bank

A 'platform built by us and for us': Black leaders start neobank

Television executive Ryan Glover, rap star Killer Mike and civil rights icon Andrew Young have launched a digital bank for Black and Hispanic consumers called Greenwood Financial.

By Penny Crosman

October 8