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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Traditional banks could be forced to add cryptocurrency product offerings in 2022 to compete with fintechs that are taking advantage of blockchain innovations, according to Diogo Mónica, co-founder and president of Anchorage.
January 18 -
A group of community banks and two major trade associations have formed a partnership with and invested in the fintech NYDIG to offer the service on the banks’ mobile apps by midyear. The banks say it will help them generate revenue and retain customers interested in cryptocurrency.
January 18 -
New York Community Bank and Synovus Bank are among the founding members of the group, which will use the US Dollar Forward stablecoin on the Provenance blockchain.
January 12 -
The Change Company, a lender to Black, Hispanic and low-income borrowers, was set to merge with the former quarterback’s blank-check company. Steven Sugarman, a onetime Banc of California chief, says his company is now in talks with other investors and inviting banks to use a new digital marketplace for its loans.
January 10 -
The Los Angeles company, set Thursday to complete a merger with a special-purpose acquisition company and raise more than $3 billion in a stock offering, plans to develop new banking and cryptocurrency-related services this year, CEO Jason Wilk says.
January 6 -
Personalized advice, embedded finance and virtual branches are among the initiatives financial services companies have on their drawing boards for the coming year.
January 4 -
Banks and credit unions need to do more for (and assume less about) customers who are over 50, says Theo Lau, founder of the advisory firm Unconventional Ventures.
January 4 -
Large banks explored the concept more than five years ago before quietly moving on. The advent of stablecoins and general acceptance of blockchains have helped make it more practical for some regionals.
December 29 -
The lender will start by cross-selling Digit's products, then gradually consolidate the two companies' platforms. Meanwhile, Oportun is working to put questions about its collections practices behind it.
December 28 -
Banks have extra reason to be concerned by the news that a commonly used piece of software could be exploited by hackers.
December 23
