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”?—?

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?

Becoming a Product Leader: Leading Product Success in the First 100 Days

Product Management Unpacked

Build your trust bank account with small victories: Build alliances and make deposits in your “trust bank account,” where your small victories will contribute to the stability of your relationships. Build your trust bank account with small victories.

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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 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.

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.

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.

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.

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.

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?”.

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.

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.

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.

5 Tech Trends in 2019 We Need to Consider as a Design Team

UX Studio

More and more fields are reaching “digital business maturity” by integrating digital technology in all of their areas especially banks. Mobile banking – smartphones have become a very efficient solution for customers to access and handle their money on the go. There are independent solutions for money transfer, lending, cash management, daily banking and investment, putting the customer experience into the spotlight.

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!

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.

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

Technical Debt, Loans & Costs

Johanna Rothman

Contrast that to a normal mortgage, where the bank expects you to continue paying the loan for the rest of the loan period. In the 30-year regular mortgage, you owe about $99,000 but the bank expects you to continue to pay over time. I listened to The Ultimate Metric: Identifying the Right Problems to Solve. The guest, Janelle Klein, said: Technical debt is not a loan. I thought that was brilliant.

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?”.

Build Iron Man Suits, Not Terminators | Carl Ryden, PrecisionLender | BoS Europe 2018

Business of Software Conference

His company PrecisionLender has been seeing incredible growth over the past few years, providing a huge amount of value in the banking sector. And as we’re working through, building our product, we released it January 1st 2010 and since then we’ve added probably 250 banks around the world. But I sell to banks right. And within a bank within large corporations most of the systems that are built inside those enterprises are not tools they’re tasks.

The "Need To Know" Rule

Under10 Playbook

The bank already has my phone number and email. The ATM asked for my mobile number recently. My dentist wants my mobile number. Probably so they can call me if I’m late for an appointment. Okay, kinda makes sense.

Pseudo-Socialist Pricing

Pragmatic Marketing

A simpler and cleaner method would be to say, “We find it challenging to make it to the bank during working hours. Here is a fantastic and funny pricing situation from a friend. Hi Mark, I recently got my curb number repainted by an outfit that allows you to name your price.

Pseudo-Socialist Pricing

Pragmatic Marketing

A simpler and cleaner method would be to say, “We find it challenging to make it to the bank during working hours. Here is a fantastic and funny pricing situation from a friend. Hi Mark, I recently got my curb number repainted by an outfit that allows you to name your price.

Data in the News: A Better Commute, Remote Internet Access, and Venture Capital Bias

Indicative

A new initiative led by Britain’s Diversity VC and the state-owned British Business Bank aims to expose the data behind that claim, Forbes reported. Check out the big data news stories you need to know about this week: 1. A BETTER COMMUTE.