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 now-defunct neobank was famous for its ability to help customers ensure their balances were adequate to cover upcoming bills or savings plans. Digit and others have started offering their own variations on this feature.
June 28 -
About 100 small banks have signed up for technology provided by the core software vendor Fiserv and the cryptocurrency custodian NYDIG that allows customers to buy, sell and hold bitcoin through their bank accounts.
June 23 -
Distributed ledger projects in banking are few and far between — many have stalled and others remain experiments. Robert Townsend, who has worked with banks around the world and written a book about blockchain technology, explains some of the ways financial institutions could be using it, for instance in small-business lending and supply chain finance.
June 21 -
The company, which started in personal financial management, has grown quickly by helping consumers avoid overdraft fees and, more recently, adding a no-fee bank account. It's counting on a merger deal with a special-purpose acquisition company to fuel further growth.
June 21 -
With a big assist from M&T Bank, the software developer Magnusmode has added step-by-step instructions for conducting essential banking activities to its mobile service that caters to consumers on the autism spectrum.
June 17 -
Before its disappearance, Avaddon said it hacked Valley National Bank's network and threatened to leak sensitive data. The bank is still investigating.
June 16 -
Banks have watched with alarm as customers' deposits have flowed into cryptocurrency wallets. They are now working with their software vendors to build the infrastructure that's needed to offer digital currency services of their own.
June 14 -
The Boston trust bank has set up a division called State Street Digital, led by Nadine Chakar, that will help customers invest in cryptocurrencies. It will also develop blockchain and smart contract technology and the ability to tokenize assets.
June 11 -
Derek White, former financial services head for Google Cloud, wants to take Galileo — the SoFi unit that provides tech services to challenger banks — international and into new niches outside banking.
June 10 -
The average American’s financial picture is bleaker than government data suggests, according to the former comptroller of the currency. Research from his new organization, the Ludwig Institute for Shared Economic Prosperity, has found that unemployment is higher and household wages are lower than reported by the Bureau of Labor Statistics.
June 8
