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Executive Editor, Technology at American Banker and Arizent
Penny Crosman is Executive Editor, Technology at American Banker and Arizent. Prior to taking on this role, she was Editor in Chief of Bank Technology News and Technology Editor of American Banker. She has held senior editorial roles at Bank Systems & Technology, Wall Street & Technology, Intelligent Enterprise and Network Magazine, among other titles.
Betsy Cohen, formerly of The Bancorp Bank, and venture capitalist Ryan Gilbert have created a vehicle to raise hundreds of millions of dollars, purchase a technology company and expand it.
Business models and adaptability will determine the success — or failure — of financial technology companies as they deal with fallout from the coronavirus outbreak.
Financial institutions have been monitoring workers' productivity at home with tracking software and webcams. Now they're mulling whether to mandate contact-tracing apps, COVID-19 testing and other practices that could raise further privacy issues.
Changing consumer attitudes about these companies and the emergence of open banking have made them appealing to venture investors, whose commitments rose 15% in the first half of the year.