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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Many loyal Simple customers have complained about the recent decision by BBVA USA to close the fintech seven years after buying it. The lingering business and cultural challenges that led to the move underscore the long odds against making such combinations work.
June 1 -
The bank has been working with tech companies to rewrite algorithms that can take advantage of forthcoming quantum machines sooner than originally thought, to price derivatives, calculate risk and use machine learning.
May 25 -
Vanessa Colella taught earth science and biology to middle schoolers through Teach for America before becoming Citigroup's new chief innovation officer. Her experience in the classroom still sticks with her today.
May 25 -
Hackers, including the group behind the breach at Colonial Pipeline, have posted convincing evidence that they have broken into the servers of community banks in Florida and California and stolen customers' data.
May 24 -
The New York neobank is creating a marketplace where partners and competitors can offer banking, insurance and other financial products, CEO Dee Choubey says. If the effort lives up to billing, it could come closer to a truly open platform than any other so far.
May 19 -
Peeyush Nahar, who also spent 14 years at Amazon, brings both Big Tech and startup experience to a consumer-banking unit that has lost several senior leaders in recent months and faces challenges common to entrepreneurial divisions within large organizations.
May 18 -
The maker of software that helps banks offer "buy now, pay later" loans at the point of sale says its latest funding round has pushed it into unicorn status.
May 18 -
Silvergate Bank CEO Alan Lane, former HSBC executive Stuart Levey and experts at Anchorage Bank are helping Facebook make its digital currency more palatable to regulators and potential bank partners.
May 17 -
It's the latest move in an industry shift toward more secure sharing of bank account data with fintechs and away from screen scraping.
May 13 -
The fintech already sells loans on its distributed-ledger-based trading platform but needed the Securities and Exchange Commission's blessing to bundle its mortgage and student loans into securities and sell them to investors.
May 12
