How to Prepare Banks for Digital Transformation

The Product Coalition

David Gledhill , DBS Bank Chief Information Officer. Bank customers’ requests are rapidly changing. Today, people want to be able to manage their finances entirely online, a feature not every bank is currently able to provide. can set a bank apart from its competitors”?—?

How to Start a Bank from Scratch by Megan Caywood

Mind the Product

Traditionally, the banking industry has been slow to innovate. She discusses the challenges involved in starting a bank and how to succeed in a highly regulated industry. The Product Experience gap in Banking. Requirements for Building a Bank.

Building a challenger bank the Monzo way – Ole Mahrt (ProductTank London)

Mind the Product

In 2013, the Bank of England scaled back the rules and regulations involved in starting a bank. They hoped to kick-start technological innovation within the banking industry through increasing competition. Ole describes the dire state of technology within existing banks in 2012.

How to Build Products That Transform People’s Lives by Chris Hay

Mind the Product

Following the success of M-Pesa he oversaw the launch of M-Shwari, a loans and savings bank account linked to the M-Pesa system which can also be accessed with a mobile phone. Both M-Pesa and M-Shwari have revolutionised personal banking in the remotest corners of Africa and have become the most successful service of their kind in the developing world. What does it take to manage the unlikely transformation in personal banking in rural parts of Africa?

Product Love Podcast: Manish Patel, CPO of Tier1 Financial Solutions

ProductCraft

This week on Product Love, I sat down with Manish Patel, CPO of Tier1 Financial Solutions, a global relationship management software for capital markets, investment banking, and investment management.

Women in Product: How to Combat Bias in Product Management

ProductCraft

Traditional industries like retail, insurance, and banking may have a lot to learn from the software industry to evolve into digital enterprises, but they have plenty to teach as well.

Helping Product Managers to Let Go by Michael Sippey

Mind the Product

Sippey references a tweet – “My bank’s iOS app let me know it now offers ‘podcast streaming’ and I really need to talk to the product manager” – and asks if the banking customer is confused, what does it say about the bank’s internal teams?

How Lean Usability Testing Can Improve The User Experience

UserInterviews

Research doesn't have to take a long time or break the bank. Here's how you can do fast, affordable research to improve your user experience

How Lean Usability Testing Can Improve The User Experience

UserInterviews

Research doesn't have to take a long time or break the bank. Here's how you can do fast, affordable research to improve your user experience

Optimize for an Experience not a Platform

Mind the Product

VR Banking? Take banking for example. Banks have faced serious pressure over the last couple years to make the move to mobile, since that’s where their customers live. The VR experience is a good example – customers probably aren’t going to leverage VR for their banking.

Product Love Podcast: Brian Brinkmann, VP of Product Marketing at Logi Analytics

ProductCraft

When Brian graduated with his MBA from the Kellog School of Business at Northwestern University, he could have taken a variety of paths — investment banking, management consulting, etc. This week on Product Love, I talked to Brian Brinkmann, the VP of product at Logi Analytics.

How Lean Usability Testing Can Improve The User Experience

UserInterviews

Research doesn't have to take a long time or break the bank. Here's how you can do fast, affordable research to improve your user experience

How Humanising Your Product can Make all the Difference

Mind the Product

Now imagine the same scenario but this time, rather than a machine, you’re inside the bank speaking to a human cashier. Delighters generally have a greater satisfaction to investment ratio than other features; think of the cost of lollipops relative to a complete refit of the bank’s interior.

Let’s talk about Card Payment Processing

The Product Coalition

The Issuer : The bank with which the card holder maintains his account. This bank ‘issues’ the card to his customer and hence is referred as the Issuer. The Acquirer : The bank with which the merchant maintains his account. This bank ‘acquires’ (i.e.

Product Manager vs. Product Owner

Roman Pichler

Many organisations that have adopted Scrum like banks, retailers, and media companies traditionally don’t have a product management group and hence no product mangers.

Please Try.

Melissa Perri

I cannot experiment because we are a bank. He was working at a bank when he was told he was not allowed to do something. “What have you tried to fix that problem?”.

Should You Buy Into Facebook’s Cryptocurrency Venture?

AlphaHQ

The list includes companies like Mastercard, Visa, PayPal, Stripe, eBay, Uber, Lyft, Spotify, Coinbase, Xapo, Andreessen Horowitz, Union Square Ventures, Mercy Corps, and Women’s World Banking, among others.

Organizing product expertise

Under10 Playbook

A vice president at a bank created a method for detecting fraud. But because he also had market expertise of the industry—he’d been a bank vice president after all—the sales team hounded him for sales calls.

Passion and domain expertise

Under10 Playbook

A vice president at a bank created a method for detecting fraud. But because he also had market expertise of the industry—he’d been a bank vice president after all—the sales team hounded him for sales calls. We are what we repeatedly do.

Back to Basics: Benefit-led Messaging

280 Group

Their customers are banks and mortgage lenders, but their customers are consumers looking to finance or refinance a home purchase. It was all about the benefit – spend less time doing the “banking stuff” you have to do in life, so you can focus on what really matters in life. “Today’s smart marketers don’t sell products; they sell benefit packages.”. Phillip Kotler, the Father of Modern Marketing. The Perils of Feature-Led Messaging.

How To Determine Market Definition and Sizing

bpma ProductHub

Some markets are geographic, like Brazil or China; others are industrial, like education or banking. Generally, we define market segments as a combination of both: an industry within a geography—banking in China or education in Brazil.

BoS Events – Redsox vs Giants, Lizzo, ZZ Top, David Byrne, King Crimson, The Who, more…

Business of Software Conference

Wednesday 18 September, Rockland Trust Bank Pavilion. Boston Events During BoS Conference. Boston isn’t just the home of your favorite SaaS and software conference. There is plenty going on.

The Anatomy of User Behavior

Mixpanel

It all starts with a single user taking a simple action: finding a video in a feed and tapping play, running a report in a business tool, navigating to the account view in a banking app to check the balance. Understanding how people use your product begins with tracking their actions.

Product Growth = People Growth by Nilan Peiris

Mind the Product

Money transfer service Transferwise has undergone phenomenal growth and now moves over £3 billion a month, saving its customers more than £3 million a day in bank fees.

Product Manager vs. Product Owner

Melissa Perri

I went on being called a Business Analyst as I worked at banks and other financial services companies. I was doing a workshop for a very large bank when one of the attendees chimed in. “What is the difference between a Product Owner and a Product Manager?”.

Why Finance App Success Depends on Customer Feedback

Apptentive

One of the most important tasks we’re faced with in business and in our personal lives is taking care of our finances, and mobile banking is already insanely popular across all demographics. Specifically, 80% of respondents said their primary bank has a mobile app.

How to Find Opportunities in Design Flaws

ProductPlan

A few years ago, many major banks began adding new fees for standard consumer banking services. As an AmericanExpress.com article explained , there were several huge flaws in the banks’ rollout of these new charges. This was during a period of high unemployment and financial anxiety among the working and middle-class customers these banks served. Second, the banks did a lousy job of communicating the new charges.

Segmenting Markets and Quantifying New Product Ideas

Proficientz – Product Management University

The Playbook : Segment your markets according to how customers think of themselves — banks, utilities, manufacturers, etc. Segmenting markets is the most important thing your organization can do because it answers the question, WHO are our target customers? In other words, your market segments are the basis for all critical decisions because they form the common bulls-eye that focuses all product, marketing and sales activities to common customer needs and goals.

How Do You Price Long-Term Contracts When Cost Fluctuations Are Involved?

Pragmatic Marketing

When a bank sells a 30-year fixed-rate home mortgage, the bank is taking the risk. However, when a bank sells a variable rate mortgage, the buyer takes the risk.

How we Learned to Build Users’ Trust in a new Product Category

Mind the Product

So unlike shopping or banking, there isn’t yet a strong set of user preconceptions about the digital experience. Over the course of a few months we did a mix of in-person and remote interviews with people on repeat prescriptions who were users of ecommerce or online banking services, but not customers of Echo.

It’s Not About How Cool the Solution Is, It’s About Solving the Problem

The Product Coalition

The first thought that came to my mind was the cool UI that is nothing like the current boring ATM and a friendly process that make sure the user won’t forget the bank card. Disclosure: I have no expertise in ATM, banking or hardware design. Why do the banks provide ATM?

How will Blockchain affect the research industry?

Userzoom

Usually, we think data lives somewhere on a server; my bank account balance is at my bank’s server, my viewing history is on a server somewhere at Netflix. My bank and Netflix own that data and I have to trust them to keep it all accurate.

Is It Time For Amazon’s Product Managers To Go Back To College?

The Accidental Product Manager

Students who are looking to find a way to finance their college education generally have two options : federal loans (from the government) and private loans (from a bank). However, that also means that 10% of that very large number is owed to banks.

Building A High-Growth Startup Sustainably | Nilan Peiris, TransferWise | BoS Europe 2018

Business of Software Conference

Each time they sent a thousand pounds the bank took fifty pounds as a fee. And every night we match those people up get them to deposit money into our bank accounts in the UK & Europe and then do the payouts. We’re live with our borderless bank account which enables you to send, spend and receive money internationally in over 42 currencies. And most importantly saving our customers 60 million in bank fees every month. So banks typically charge 5 percent.

Testing Modern Conversational Interfaces: Google Home and Amazon Alexa

Amir Rozenberg

Ally Bank, for example, already offers a set of “Alexa skills”, including balance checking, money transfers, recent transactions, etc. One would hope that each bank won’t need to test every Google and Alexa device variant in the market! Say hello to conversation!

Ways to Define Success and Measure Value for your Product Features

bpma ProductHub

Here are some unique ways that TIBCO Spotfire keeps the customer front-and-center: Elevating the voice of the customer through a public idea bank : Customers submit ideas and issues to Spotfire’s public idea portal, and the top ideas are implemented each release.

Events 238

The Power of Thoughtful Research by Prakriti Parijat

Mind the Product

begins Prakriti Parijat of DBS Bank. “Do you like the conference so far?” After cheers from the #mtpcon Singapore crowd, she turns the response around: “What is wrong with that question?” Everyone immediately recognizes that it was a leading question.

How to design a Remote Unmoderated Usability Test

Userzoom

For example, if you’re conducting research for a bank with branches located in a few states in the east coast and you wanted to assess the experience of applying for a mortgage, you don’t need the bank’s actual customers who need a mortgage from those exact states.

Analysis: The Tech Stacks Growing 9 Neobanks

The Product Coalition

Monzo raised $144m recently to be valued at $2.6bn, Prospa successfully listed on the ASX with a market cap of $720m (AUD), Judo Bank raised $140m (AUD) and many more have hit similar achievements. Neobanks are on the rise.

How QA Testing is Moving Up in Today’s Agile Value Chain

Usersnap

And Suncorp banks having money disappearing from its customers’ bank accounts after a software upgrade. In the past, the core goal of testing is to find bugs and fix them. But the dynamics of IT and testing landscape have changed now.