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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The banks want the pay-by-bank provider to use application programming interfaces to protect consumers, they say.
November 7 -
A new research report this week found AI could 'unlock' $370 billion in profits for banks, though they're not yet ready to capture it. But big-bank executives say they are already seeing measurable results from their generative and traditional AI investments.
November 6 -
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The court upheld the Federal Reserve Board's right to block Custodia from direct access to its payment systems. The bank is considering asking for a rehearing.
October 31 -
A commonly used standard for property and casualty insurance will offer a carve-out for generative AI liability starting in January. Startups like Testudo, Vouch and Armilla AI stand by to scoop up that business.
October 30 -
Anchorage Digital Bank, Custodia Bank and Erebor Bank could be among the first recipients of limited, special-purpose payment accounts recently floated by Federal Reserve Gov. Christopher Waller.
October 28 -
Robert Hartheimer's arrest comes at a time when the bank is trying to recover from a consent order and the Synapse mess.
October 24 -
The agents could overcome the consumer inertia that keeps people in low-yield bank accounts, the consultants say.
October 23 -
The company's software automates much of the process of getting money transmitter, lending and other types of licenses.
October 23 -
