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 banking-as-a-service company is still going through bankruptcy proceedings and millions in customer funds remain missing, but founder Sankaet Pathak has already made a fresh start and won venture capital support.
August 23 -
If efforts to make AI-based loan decision models less discriminatory degrade accuracy, that is problematic for the entire industry.
August 22 -
California has a pending law that would hold banks liable for three times the amount of a loss if they had reason to suspect financial exploitation of an older customer and did nothing about it.
August 20 -
Krish Swamy, Dan Jermyn and others on a just-released AI 100 list say they expect investment in AI to keep increasing.
August 14 -
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Unless the SEC appeals, a New York judge's decision brings an end to the regulator's four-year battle with the crypto company. But it leaves questions over the legality of crypto unanswered.
August 8 -
Air Canada was penalized for misinformation generated by its chatbot; Patagonia has been accused of letting a vendor's AI model analyze customer service conversations without consent. These cases have parallels in banking, where many institutions use AI-based chatbots and contact center software.
August 8 -
A long-time industry observer and bank regulation expert spells out the steps banks should take to ensure their fintech relationships are safe.
August 5 -
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The bank is developing algorithmic models that will be ready to take advantage of quantum computers when they become powerful and reliable enough to use. It's also taking steps to defend itself against the day cybercriminals can harness quantum computing to break the encryption protocols everyone uses.
July 24
