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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Banks are right to fear the big tech companies that are eyeing financial services, according to Monish Kumar at Boston Consulting Group, who offers suggestions on how traditional lenders can protect their turf.
August 6 -
Though the use of alternative data in lending is seen by some as untested, several fintechs say they couldn't function without it.
August 5 -
The Pittsburgh bank is using software initially developed by a fellow mutual to help build out its platform.
August 1 -
A breach that compromises personal data of more than 100 million people is never good, but the company did follow some security best practices.
July 30 -
Don Cardinal of FDX and Olivier Helleboid of Intuit explain the FDX and OFX standards, how they're turning them into one standard and what that standard will be able to do for banks.
July 30 -
The former state banking superintendent weighs in on some of the toughest questions bank regulators are grappling with and the lawsuit (still ongoing) that she filed against the OCC.
July 29 -
OFX is used by 7,000 banks while FDX is used by 2 million consumers. The two standards are converging.
July 26 -
The Alabama bank, which is spending hundreds of millions on technology, says the ability to make faster credit decisions is one reason digital metrics such as checking account openings are soaring.
July 25 -
A study by FinRegLab of six nonbank lenders' use of cash-flow data in underwriting decisions finds this type of "alternative data" helps predict loan performance.
July 25 -
The former head of the Small Business Administration and current Harvard professor says data sharing can be transformational for banks.
July 23
