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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A strong second quarter, new cryptocurrency clients and its selection as the issuer of a Facebook-affiliated digital currency seem to be validating Silvergate Bank’s unusual business model.
August 2 -
Officials in New Jersey, Alabama, Texas and Vermont say the fintech's banklike account is illegal. Here's what they're doing about it.
July 28 -
The Birmingham, Alabama, bank has developed artificial intelligence-based systems that can flag suspicious activity and guide customer service representatives. Amala Duggirala, the bank’s chief operations and technology officer, describes the AI work she and her team have been doing.
July 21 -
The Securities and Exchange Commission accuses the company of improperly profiting from sales of the digital token XRP. Here’s how Ripple’s high-priced legal team is trying to poke holes in the government's case.
July 19 -
Salt Labs researchers exploited four types of vulnerabilities in the application programming interfaces of a large financial company. Their findings contradict conventional wisdom about the safety of APIs in the sharing of consumer data.
July 15 -
This has been dubbed the "summer of quitting," and three neobanks are aiming to capitalize on the trend by developing apps that provide budgeting, invoicing and tax calculation to meet the specific needs of contract workers.
July 13 -
Banks should let consumers download their account data and transfer it to other financial providers, according to a new presidential order. Some experts argue aggregators are already making this happen, but others say the directive implies more consumer control.
July 12 -
The company angered hundreds of customers when its software flagged their accounts as suspicious and suddenly cut them off, according to a ProPublica report. The episode illustrates the challenge shared by fintechs and banks of rooting out scammers without being overzealous.
July 7 -
Pressure is mounting on banks to rein in overdraft fees. The behavioral psychologist Wei Ke says there are programs they can put in place that would be fairer to account holders and still generate income.
July 6 -
The robo advisor for socially conscious investors will benefit from becoming part of the largest U.S. bank, but "we also want to maintain the dynamic ... that made OpenInvest what it is," one of its co-founders says.
June 30
