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

Upgrade launches mobile banking and debit card with 2% cash back

The online lender founded by Renaud Laplanche is now a full-fledged challenger bank that can offer generous checking terms because, it says, it can count on its loans for profits.

By Penny Crosman

January 14
Fintech

Banking data analytics vendor MX raises $300 million

The Utah company, which serves more than 2,000 banks and credit unions, has grown rapidly because it helps financial institutions deliver the types of personalized financial advice consumers have increasingly come to expect.

By Penny Crosman

January 13
Challenger Bank

What banks, fintechs can learn from Simple’s rise and sudden death

BBVA’s acquisition of Simple, the first neobank, was closely watched as a possible model for others in the industry. But the shutdown last week of Simple has again stirred a debate about whether upstarts and traditional players can ever fit together.

By Penny Crosman

January 11
Workforce management

Cathy Bessant is itching to bring BofA's tech workers back to office

Bank of America's chief operations and technology officer says even digital experts benefit from in-person collaboration. She wants her 95,000-person staff to return once it's safe.

By Penny Crosman

January 7
Challenger Bank

BBVA USA shuts down neobank Simple

The decision to shutter the digital bank comes just weeks after BBVA USA announced it was selling itself to PNC Financial Services Group for $11.6 billion.

By Penny Crosman

January 7
Digital banking

Why this tech vet left a superregional to join Quontic Bank

Felix Todd, formerly of Regions Financial, says "the excitement is authentic" at the New York community development bank, which has a reputation for being both innovative and purpose-driven.

By Penny Crosman

January 5
Blockchain

How decentralized finance could reshape banking

Silvergate and Avanti are among the banks pioneering the incorporation of smart contracts, cryptocurrencies and other cutting-edge instruments into mainstream financial services.

By Penny Crosman

January 4
Fintech

Synchrony, PayActiv join CFPB's compliance sandbox

The Consumer Financial Protection Bureau is giving the credit card issuer and the fintech firm some regulatory latitude to develop specific new products.

By Penny Crosman

December 30
Cryptocurrencies

How will SEC complaint affect banks’ relationships with Ripple?

The Securities and Exchange Commission last week accused Ripple of breaking securities laws, raising questions about the future of banks' ties with the company.

By Penny Crosman

December 29
Data sharing

PNC sues Plaid for trademark infringement

The Pittsburgh bank says the data aggregator deceptively uses PNC's logo in obtaining bank customers' login credentials.

By Penny Crosman

December 23