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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Venture capitalists agree in spirit with an idea floated by the Securities and Exchange Commission that large private companies should divulge more about their finances. But they warn financial services innovation could be stifled if the requirements are too stringent.
January 24 -
With Venkatraman’s guidance, Credit Suisse’s investment bank has also joined the financial industry’s move toward cloud computing.
October 6 -
The San Francisco data aggregator has committed to minimizing how much data it extracts from bank accounts.
August 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 -
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 -
Online and mobile banking traffic at Bank of America soared in the last year, including a 60% spike in the use of its virtual assistant Erica. David Tyrie, the company's head of digital, wants to keep driving adoption by pitching financial planning tools to millennials and Gen Z.
June 3 -
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 -
The data aggregator, whose planned merger with Visa was called off in January, intends to use the funds to accelerate its global expansion.
April 7 -
Large U.S. banks are directing their venture capital dollars to fintechs in capital markets, wealth management and "future-proofing."
March 29 -
Citing strong client demand, the nation's largest custody bank is building infrastructure and a team that can help clients store and manage bitcoin and many other types of virtual currency and tokenized assets.
February 23