Penny Crosman

New York

Executive Editor, Technology at American Banker

Executive Editor, Technology, American Banker @amerbanker. Interested in technology, innovation, justice and the humane treatment of animals

Articles

Fintechs stick with work-from-home. It gives them an edge

3 days ago | americanbanker.com | Penny Crosman

Set up a Google Meet with Trevor Gauthier, and you will get a glimpse into an inviting home office, with a black Lab napping in the window seat and a Swiss mountain dog on the floor. Gauthier is CEO of Aces Quality Management, a Denver-based fintech where 100% of employees work remotely.
SEC, Ripple settlement agreement drops fine to $50 million

6 days ago | americanbanker.com | Penny Crosman

The Securities and Exchange Commission and Ripple Labs have filed a settlement of the lawsuit the regulator brought against the crypto company and two of its leaders in 2020, in which it said the company and its leaders had illegally profited from sales of the crypto token XRP. In the agreement filed Thursday, the parties agreed that Ripple will pay $50 million to the SEC — a fraction of the $2 billion the SEC originally asked for — and get the other $75 million in escrow back.
SEC, Ripple settlement agreement drops fine to $50 million

1 week ago | today.westlaw.com | Penny Crosman

The Securities and Exchange Commission and Ripple Labs have filed a settlement of the lawsuit the regulator brought against the crypto company and two of its leaders in 2020, in which it said the company and its leaders had illegally profited from...
Teachers Federal Credit Union joins AI-based lending trend

1 week ago | americanbanker.com | Penny Crosman

The idea of letting artificial intelligence models make lending decisions was once considered risky and prone to error, discrimination, bias, "black box" style obfuscation and lack of explainability. But now it is becoming an important tool for lenders competing with credit card issuers and fintechs that have been using this technology for years.
Teachers Federal Credit Union joins AI-based lending trend

1 week ago | today.westlaw.com | Penny Crosman

The idea of letting artificial intelligence models make lending decisions was once considered risky and prone to error, discrimination, bias, "black box" style obfuscation and lack of explainability. But now it is becoming an important tool for...
Upstart beats expectations, but outlook worries investors

1 week ago | americanbanker.com | Penny Crosman

Online lending platform provider Upstart reported earnings that exceeded analysts' forecasts for the first quarter, but analysts and investors seem concerned about the second quarter and beyond, given macroeconomic uncertainties. Earnings per share were 30 cents, where analysts had expected 17 cents. Total quarterly revenue was $213 million, above analysts' consensus estimates of $199 million and a 67% increase over the same period last year. Loan volumes were up 102% year over year.
Upstart beats expectations, but outlook worries investors

1 week ago | today.westlaw.com | Penny Crosman

Online lending platform provider Upstart reported earnings that exceeded analysts' forecasts for the first quarter, but analysts and investors seem concerned about the second quarter and beyond, given macroeconomic uncertainties.
'You can't make it a side gig': Brett Pharr on banking as a service

1 week ago | americanbanker.com | Penny Crosman

Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Penny Crosman (00:03):Welcome to the American Banker Podcast. I'm Penny Crosman. Banking as a service, a dynamic where banks provide products and services behind the scenes for fintech partners like neobanks and online lenders, has been under pressure for the past few years.
Innovation of the Year 2025: Meet the honorees

1 week ago | americanbanker.com | Penny Crosman

Innovation requires three things: great ideas; technologists who excel at execution; and leaders who can bulldoze through corporate politics, bureaucracy and inertia to make things happen. American Banker's Innovation of the Year 2025 award honorees are teams that have brought groundbreaking technology to life within financial institutions. From AI-based tools to streamlined payment systems, these projects share common themes of efficiency, accessibility and enhanced customer experience.
Innovation of the Year 2025: Meet the honorees

1 week ago | today.westlaw.com | Penny Crosman

Innovation requires three things: great ideas; technologists who excel at execution; and leaders who can bulldoze through corporate politics, bureaucracy and inertia to make things happen.