Penny Crosman

Penny Crosman is editor-in-chief of Bank Technology News.

Recent Stories From this Author

Big Banks Still Say 'No' to Cloud
October 14, 2014 Despite the many advantages of the public cloud, big banks remain leery of putting data there.

How Not to Handle a Data Breach
October 10, 2014 There's almost no good way of tell a bank customer that her personal data's been stolen. But some banks do a particularly bad...

How Much Do Data Breaches Cost? Two Studies Attempt a Tally
September 12, 2014 To obtain approval and funding for security improvements, bank technologists have to make their case by pointing to losses...

How This Small Bank Kicks Cybercriminals Off Its Network
September 9, 2014 As cyberattacks against banks escalate — with 93 percent of banks worldwide reporting they've been hit — Bremer Bank in...

How Banks Are Using Big Data to Set Deposit Rates
September 8, 2014 Worried that the Federal Reserve will start raising interest rates next year, many banks are reconsidering their strategies...

iCloud Hack Underscores Risk to Banks When Employees Use Cloud
September 2, 2014 Although bankers are (hopefully) less likely to store compromising selfies in the cloud, the infiltration of celebrities'...

Why Banks Should Experiment More with Wearable Computers
August 6, 2014 Wearables lend themselves well to quick banking updates, simple transactions and voice commands, and they're poised for wider...

Banks Open Their Wallets Wide for Mobile Banking: Survey
August 4, 2014 A sizable portion of the banking industry has increased spending on mobile banking technology by more than half this year,...

DDoS Attacks Are Still Happening — and Getting Bigger
July 29, 2014 They haven't caught much media attention lately, but distributed denial of service attacks continue to take place and have...

Five Ways Banks Can Defeat Mobile Malware
July 10, 2014 With millions of malware strains targeting mobile devices today, bank CEOs and their security chiefs are understandably...

Svpeng Malware: Empty Threat or Cause for Alarm?
June 24, 2014 Warnings about the Svpeng malware that targets cellphones are proving to be unwarranted panic, skeptics say. Others argue that...

OneUnited Deploys New CRM Tool to Drive Sales, Improve Service
May 15, 2014 Using new technology from Salesforce, the Boston bank is arming staffers with real-time customer data in a bid to increase...

First Look: FFIEC Explains New Cybersecurity Assessments
May 11, 2014 On Wednesday, the Federal Financial Institutions Examination Council announced plans for cybersecurity risk assessments of...

How Data-Sharing Can Keep Fraud from Spreading
March 25, 2014 If banks are serious about outsmarting thieves, fraudsters and hackers then they need to be more open to sharing information...

IBM's Anti-Fraud Push Strikes a Chord with Banks
March 21, 2014 Big Blue is trying to combine the products of several security-tech companies it has bought in recent years into a fraud...

Banks Pushed Toward Cloud Computing by Cost Pressures
March 11, 2014 U.S. banks have been hesitant to use public cloud services due to security and regulatory concerns, but shrinking profits and...

How ING Financial Advisors Are Using Social Media to Connect with Clients
March 5, 2014 Now that financial regulators have finalized rules on social media interaction, firms like ING are, slowly and cautiously,...

Poor Data Management Blinded Chase to Madoff Fraud: WSJ
January 13, 2014 Data locked in silos and the lack of a common customer identifier that could link accounts were to blame for JP Morgan Chase's...

The Downside of the Data-Driven Decision
January 8, 2014 Aggressive sales and performance goals could be a case of Big Data Gone Wild.

Fifth Third Bank Pilots Analytics-Driven Deposit Pricing
January 2, 2014 What's the best way to set interest rates for CDs and savings accounts? A handful of banks are taking a scientific approach,...

Top 8 Ways Banks Will Spend Their 2014 IT Budgets
December 18, 2013 Digital banking, marketing analytics and the 'omnichannel' top bankers' technology shopping lists for the coming year.

Are Banks Ready for Quantum Computing?
December 13, 2013 Some banks have quietly begun testing computers that harness quantum physics to run 100,000 faster than traditional computers.

Mobile Banking Late Bloomer First Niagara Sees Quick Adoption
December 11, 2013 Although admittedly late to the game, the Buffalo bank is getting enthusiastic response to its mobile banking app.

Encryption Tech Protects Data Moving Between Data Centers
December 6, 2013 A new technology announced Thursday morning by ID Quantique encrypts data traveling between data centers. One target market is...

Narrative Science Applies AI to Suspicious Activity Reports
November 19, 2013 One of American Banker's Top Tech Tech Companies to Watch in 2012, Narrative Science is winning bank clients for SAR reporting...

Citi, SAP Partner to Directly Connect Corporate Customers to the Bank
October 28, 2013 The New York bank has subscribed to SAP’s Financial Services Network, which lets banks’ computers communicate directly with...

Why the Hybrid Cloud Matters to Banks
October 15, 2013 Microsoft announced new hybrid cloud products last week. Banks have long taken to this mixed approach, in which they can keep...

Smarter Perps, Better Collaboration Mark Banks' Cybersecurity Battle: Aite
October 11, 2013 Cyberthreats continue to multiple like Tribbles and corporate account takeovers keep bank security executives up at night. But...

Banks Use Analytics to Detect Suspect Employee Behavior
October 9, 2013 Digital Reasoning has 10 large banks using its software to uncover employees' nefarious activities

Zions Bank Combs Big Data for Customer Preference Clues
October 3, 2013 The Utah bank learns about the behaviors and preferences of the Spanish and Asian populations in its footprint by mining a...

Bank of the West's CIO Is on a Quest for Real-Time Analytics
October 1, 2013 The San Francisco bank's CIO shares an update on an enterprise-wide customer analytics project and why CCAR is a "mixed...

Banking Malware Dominates New Mobile Security Threats: McAfee
September 10, 2013 Banking malware and "backdoor" Trojans were the most popular mobile threats unleashed during the second quarter, according to...

Why Banks Are Finally Embracing Cloud Computing
August 22, 2013 Now that vendors have beefed up security and reliability, most large banks around the world plan to spend more on cloud...

Three Fixes for Common Mobile Banking Performance Problems
August 13, 2013 Experts identify typical problems that crop up with mobile banking apps and sites and what to do about them

IBM Says New Chip Design Mimics the Human Brain
August 12, 2013 The technology theoretically could be harnessed by banks for the types of analytics projects for which they use...

Mobile Banking Activity Continued to Grow in June
August 6, 2013 Banks continued to report increases in mobile banking usage in June, according to the latest Mobile Banking Intensity Index

State of Big Data in Banks Subpar, Survey Finds
July 24, 2013 Banks have a great deal of data available, but lack the technology to make the most of it, a Deloitte survey has confirmed....

How Zions Bank Is Conquering Big Data for Marketing Campaigns
July 17, 2013 Salt Lake City bank forms a group aimed at identifying business use cases and analytics “recipes”

Mobile Leaks Make Banks Wary of BYOD Trend
July 15, 2013 Ponemon Institute survey pegs mobile devices as the riskiest outlets for regulated and personal enterprise information;...

Bank of America CIO on Big Data, Emerging Enterprise Tech
April 30, 2013 B of A’s Catherine Bessant hates the phrase big data and aims to avoid making data a “black box” that separates...

Startup Helps Financial Advisors Link In with Social-Savvy Millionaires
April 26, 2013 With a LinkedIn look and feel, Finect is part of a small but growing social media toehold on financial decisions

IT Leads 2013 Banking Capital Investments
February 15, 2013 American Banker survey: 57 percent of executives spending on mobile banking, more than half adding to security

Don't Hurt Those Close to You with Bad Data
February 14, 2013 Without data quality efforts, false reports become a cultural illness that can breed misunderstandings and poor decisions

Keeping a Cloud Secure
November 5, 2012 "Trust but verify" is the mantra here. Make sure the cloud vendor can provide all of the security layers that are promised

Customer Analytics Growing in Banks
November 2, 2012 American Banker research shows that lots of banks still do not use customer analytics, a gap that is sure to change in the...

Data Centers Down the Drain
July 4, 2012 Virtualization, storage and server trends patterned on energy efficiency and heat reduction

6 Trends Guiding Financial Customer Data
June 7, 2012 Big data retention not always practical; bump in projects for analytics and predictive models

Innovators in Banking Tech
May 4, 2012 11th annual Bank Technology News honorees include leaders from Movenbank, BBVA, Citi and Wells Fargo

Stakes Rising for Enterprise Mobility, BYOD
March 6, 2012 With insurers facing pressures from business objective imperatives, IT still needs to find a safe way to manage its mobile...

Building Secure Apps
March 5, 2012 As banks battle financial malware, they strive against human nature

Tech-Savvy C-Suites
February 22, 2012 In some banks, IT is an order taker. In these banks, the CEO realizes the importance of technology to the company's success...

9 Trends Reshaping Risk Software
January 3, 2012 Spending is expected to climb 7 percent on risk technology, and banks are generally unhappy with their current applications

Data Center Fabrics in Fashion
December 6, 2011 The concept of the data center fabric is finally coming to fruition as vendors make their products closer to compatible

CRM, New Core at Center of BBVA Overhaul
October 14, 2011 Bank bringing European-style customer management approach with its U.S. acquisition

The Emergence of Out-Tasking
September 8, 2011 Economic factors drive outsourcing beyond back-office tasks into advanced business processes, analyst says

Technology Doesn't Have to Kill Jobs
August 19, 2011 Technological change like cloud computing and efficiency-enhancing initiatives played a role in many recent job cuts. But...

CIOs vs. CFOs
August 10, 2011 Finding value is key in executive tug of war over tech spending and investment

The Core At An Impasse
August 9, 2011 Obstacles to replacement of outdated systems and platforms - the bank technology equivalent of a heart transplant - are immense

CFOs Alone Are Making 26% of IT Spending Decisions
July 8, 2011 CIOs are authorizing only slim margin of IT investments, survey of 344 financial executives has reveals

Spam Fraud Down, Targeted Phishing Attacks Up 400%, Cisco Analysis Finds
July 5, 2011 Personalized, malicious email attacks have grown from $50 to $200 million in value to the perpetrators in the past year. The...

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