Former PayPal Ventures Exec Peggy Mangot Joins JPMorgan Chase

Peggy Mangot, who has experience with PayPal Ventures, is the new JPMorgan Chase head of FinTech partnerships for commercial banking, a press release said Thursday (May 19).

Her responsibility will include leading a team for designing, developing and driving commercial banking’s FinTech partnership strategy, the release said.

Her resume includes PayPal Ventures, where she was in charge of leading investments in FinTech, commerce, infrastructure and crypto around the globe.

Before that she led the development and rollout of Wells Fargo’s challenger bank and its enterprise management platform for both consumers and commercial customers.

“Peggy brings a wealth of expertise having worked with FinTechs across both consumer and B2B payments for the last two decades,” said Sue Dean, head of payments solutions for JPMorgan Chase Commercial Banking.

See also: JPMorgan Sees ‘Cash Flow Magic’ Inside Automated Payments

PYMNTS wrote, in other news related to JPMorgan Chase, that the bank has seen shifts in the payments landscape and how B2B and B2C have been moving in “similar directions,” according to Managing Director, Industry Head — Technology, Media and Telecom Jennifer Acosta and Managing Director, Integrated Payables, Strategy, and Network Chris Claus.

Acosta said consumers have been saying, “Here’s how I want to pay you and here’s how you need to integrate.”

“You see eCommerce spend has just exploded,” Acosta said. “What that’s saying is that our consumers interact with us in a digital way, and we need to figure it out.”

And for B2B, there’s a heavy focus on optimization.

She said B2B has been moving slower in adopting some of the newer payment options.

Claus, meanwhile, said digital payments support a stronger cash management strategy for B2B operations, which have gone through “a tough couple of business cycles.” He said there has been a large glut of moves to digital through the pandemic, with a lot of workflows automating.