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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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 -
The automated investing tool is part of Goldman Sachs's effort to be a full-service digital bank and to help partners like Apple and Stripe offer financial products, according to Stephanie Cohen, global co-head of consumer and wealth management.
February 18 -
They're among a handful of companies willing to hold clients' digital assets for safekeeping. Many of their peers balk at the reputational and financial risks.
December 16 -
As it does with savings, the app's algorithm calculates how much users can siphon off their earnings into retirement without missing the funds.
December 2 -
The company's new agreement with Envestnet Yodlee to share customers' account data over secure pipes is its 17th pact with aggregators and other fintech firms.
September 25 -
Wealthfront gives users more control over their money with automatic transfers to savings accounts or ETFs.
September 2