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?

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 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.

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.

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.

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 "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.

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.

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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?”.

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.

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?”.

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.

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.

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?

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.

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.

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 ).

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 ).

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.

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.

Designing Your Way to Better Team Collaboration by Alison Coward

Mind the Product

The design studio of Swedish bank Nordnet is very specific about why when and how they meet, says Coward. As the founder of Bracket Creative, Alison Coward spends her working life advising creative teams on how they can collaborate better.

Effortless remote user research

The Product Coalition

Revolut Business offers a 21st century alternative for traditional banking. Their product is simply amazing and you don’t have to deal with outdated ways of traditional banks anymore, which is a massive time saver. We have our bank accounts here and we have been super happy since then.

3 Best Practices for Adopting Continuous Product Discovery

Product Talk

They’re also a regulated industry and if you’ve never worked at a bank or an insurance company or anywhere else that’s regulated, what this means is the company culture is set up to be safe. It’s easy to think you already do continuous product discovery.

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.

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?

EQUIP YOURSELF TO CARE — OFF GRID PERSPECTIVE ON MY STRESS.

The Product Coalition

Four small cabins and a large lodge built in the1930’s during the age of FDR rest on the bank of the Mckenzie river. Taken from my iPhone in the middle of a lake. EQUIP YOURSELF TO CARE?—?OFF OFF GRID PERSPECTIVE ON STRESS. Loloma Lodge is a beautiful retreat property.

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.

How to Start From Scratch and Prioritise by Marcel Britsch

Mind the Product

Using examples from his work with Barclays Bank on a greenfield project and also a brownfield supply chain optimization project, Marcel demonstrates how to do lean actionable modelling. Accept that a lot of things you do are throwaway. They’re a means to an end, not the final output.

Ask the Experts: How Can We Pick the Best Pricing Model for our SaaS Products?

Pragmatic Marketing

Instead of charging for the number of bank clerks that use your product, what if you charged by the number of transactions they process—or better yet, the total value of the transactions? Although there’s no generic answer that works for all situations, here are several things to consider when choosing a pricing model. Where does value come from? An ideal pricing model charges more as the customer receives more value. Many SaaS companies charge by the user count.

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.

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Applying Product Principles to Guide Better Product Decisions

Mind the Product

When we develop Pay.com, these are our product principles: We are not a bank. We disrupt banking.

Product Design: Let’s get Emotional

Mind the Product

My industry is financial services, and here new legislation such as PSD2 and Open Banking will present customers with even more options about who they bank with, where they invest, what products are available to them and where they go for advice. Banks must compete experience by experience with a relentless focus on delivering value to customers. For example, getting customers to engage in digital or mobile banking is top of most banks’ agendas.

Demystifying Statistics: Why do we need confidence intervals?

Userzoom

Taking our UK student example, imagine we wanted to test two designs for a student bank account to see which design students preferred.

Women Making an Impact in Product Management in APAC

The Product Coalition

Nyoman Puspitasari has held numerous product positions in the banking industry and is now SVP, Head of Product Development at Bank QNB Indonesia. This post was originally published on Product Management Festival ’s website.

Making things people want

Inside Intercom

Accepting payment used to involve bulky machines with rolls of thermal paper, faxing paperwork to banks, ISDN lines, and batch transaction transfers run nightly. The problems people encounter in their lives rarely change from generation to generation.