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?

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

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.

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.

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.

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?”.

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.

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.

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 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.

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?”.

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!

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.

When exactly does a Chatbot kill an App?

The Product Coalition

banking, capital markets and insurance domains, and I work with the AI product that powers these conversations. I sometimes have to Google on how to raise complaints on a bank’s site. When and where exactly does a Chatbot kill an App?

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

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.

What Can India’s Paytm Mobile Payment System Teach Product Managers?

The Accidental Product Manager

The company got into a disagreement in 2014 with India’s central bank who put restrictions how they were going to accept credit card payments. This allows users to transfer money between user’s bank accounts.

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.

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.

Dear Strategy: 069 Determining Competitive Use Cases

Dear Strategy

For example, I as a banking customer (Actor #1), expect to interact with my bank (Actor #2) through some type of a banking app (System). all become individual use cases that can then be used to help the bank design a system that will ultimately accommodate all of my needs. Dear Strategy: “When studying a competitor, how do you really determine the use case for their product?”. .

The 7 Most Fascinating Tech Talks of Propelify Innovation Festival

Indicative

pointed out that her company’s target customers — people who work in the adult industry — often find it hard to get loans from banks because “banks impose moral judgments on them,” and call them high risk. “I Indicative visited the 2018 Propelify Innovation Festival on May 17th.

Climbing the Product Management Career Ladder

bpma ProductHub

It’s just as valuable to healthcare providers as it is to retailers and banks.”. Contributed by John Mansour. Before your mind wanders too far, let’s set the record straight.

How Do You Test Automated Data Entry for Mobile Web Apps? A Tip We Gave to Our Customer

Amir Rozenberg

These days, many brands are finding new ways of streamlining the user experience in order to drive higher adoption rates, increased security, and user satisfaction.

The Hottest Tech in Silicon Alley at the July 2018 NY Tech Meetup

Indicative

Within the app, the money saved can be allocated to charity, banks accounts, or even college savings. Each month, we bring you the highlights the Silicon Alley’s longest-running tech event, the NY Tech Meetup.

Let’s Abandon Customers and Users

Mironov Consulting

Banks, railroads, pharmaceutical companies, retailers, utilities and other primarily non-tech companies have IT Departments and manage IT as a cost center: the folks who give profitable business units what those business units demand.).

Hearing About Accounts, Listening for Segments

Mironov Consulting

” (Referencing an imagined new banking regulation called M oney C enter B ank S ecurity P rotocol.). We could lose the entire banking sector if competitors get there first” Major account exec thinks: “How can I communicate real urgency?

Increase Test Automation with Touch ID & Fingerprint Authentication Simulations

Amir Rozenberg

However, nowadays, in-app transactions such as purchases (games, retail ), money transfers (banking) and key sensitive transactions are increasingly confirmed with users’ biometric identification.

Increase Test Automation with Touch ID & Fingerprint Authentication Simulations

Amir Rozenberg

However, nowadays, in-app transactions such as purchases (games, retail ), money transfers (banking) and key sensitive transactions are increasingly confirmed with users’ biometric identification.

Driving Growth vs Building Core Value by Roan Lavery

Mind the Product

For Freeagent, this meant bringing forward the user’s connection to their bank. Summary: Product managers always find themselves trying to make disparate groups of people happy. FreeAgent has created a three-step framework to help manage this process across organisations.

How customer support can keep up with customer expectations

Inside Intercom

The first sign that the thieves were on the move came when Tristan, CEO of a startup accelerator, was contacted by his bank, Monzo , through their app. Unfortunately, Tristan still had to handle charges on cards from two other banks.

The next generation automation testing for video streaming apps by Perfecto & Accenture S3

Amir Rozenberg

What is interesting is the same phenomena outside this vertical: for example, 80% of all banks are planning to offer video-enabled banking services as an evolution of their digital personalized presence ( Source ).

Leveraging Domain Expertise

Under10 Playbook

For example, domain expertise in fraud detection, security, or instructional design is the same whether you’re working in banking, health, or education. In the end, the details of a matter are important. The right and wrong of one's way of doing things are found in trivial matters.

Understanding Enterprise Product Companies

Mironov Consulting

Bank tellers and bank branch managers care about the efficiency of our branch software; bank finance committees want an ROI based on staff reductions. I’m often asked by B2C product managers how B2B companies are different, or about switching between the two.

The Evolution of Modern Product Discovery

Product Talk

And so in order to do that continuously, we need to make sure that we’re continuously adding to our bank of interviews and to our bank of experiments. Product management is evolving quickly.

The next generation automation testing for video streaming apps by Perfecto & Accenture S3

Amir Rozenberg

What is interesting is the same phenomena outside this vertical: for example, 80% of all banks are planning to offer video-enabled banking services as an evolution of their digital personalized presence ( Source ).

5 NYC Products with Creative Applications of Blockchain

Indicative

Rather than rely on institutions like banks to tell you how much money is in your account, Haft said, the blockchain preserves trust by tying each transaction to the ones that came before it. When the topic of blockchain comes up, you’ll typically hear either a groan or burst of excitement.

Market Definition and Sizing

Under10 Playbook

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.

Five Steps to Solutions-Driven Product Management

Proficientz – Product Management University

Data security solutions for banks…customer service solutions for telecom…document management solutions for healthcare…you get the picture. Here’s what makes solutions-driven product management such a challenge. The vast majority of product companies are a mishmash of products brought together through mergers and/or acquisitions. Each one throws another silo into the fire that further fragments strategies, product plans, R&D, marketing and sales.

UX Storyboard Creation: A Complete Guide For Beginners

UX Studio

The overview of a whole service (when you are not just paying attention to a digital product, but also designing the full online and offline experience of a service such as a museum or a bank) requires several different touchpoints with the users.

UX 90

Omni-Channel Product

svpg

Have you been unclear on whether to call your bank’s web support or banking support line to answer a particular question? Think of industries like banking, insurance, transportation, media, and retail. Have you ever received a text notification from your airline about a flight delay before the ground crew in the waiting area has the information? Are you baffled by the differences in your favorite retailer’s in-store and online experiences?