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.

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.

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

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.

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!

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.

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?”.

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.

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?”.

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.

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?

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.

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.

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.

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.

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.

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.

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 ).

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.

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.

Your Team is Smarter Than You Are: Why Autonomous Product Teams Work Better

Mind the Product

It means opening bank accounts in the target country and updating terms and conditions to comply with local money-laundering and securities laws. I’ve always argued that product management is a team sport.

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.

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.

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 ).

Startups are cheaper to build, but more expensive to grow – here’s why

Andrew Chen

In the past three years prices are down by around a quarter, according to Citigroup, a bank; and further significant falls look all but inevitable. Startups should be getting cheaper to build.

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.

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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Design Sprints by Jake Knapp

Mind the Product

These weeks have been successfully run everywhere from banks to airlines to charities. Design Sprints allow you to get to the crux of your problem and explore a solution, quicker than other ways of working.

Product to Product: Venmo’s Ben Mills on the messiness of leading a product team

Roadmunk

Whereas, just letting things happen more project-based, then we would never sit down and have someone deeply understand how you manage funding sources, credit cards and banks in your Venmo account. It’s the second last episode of Product to Product’ s second season!

Start your marketing with why: Getting your story right

Inside Intercom

A bank that says it cares about its customers can’t have 20 people waiting in line with only two tellers on duty. No matter how good your product is, if you can’t tell a cohesive, compelling story about it, you’re going to have a very hard time getting people’s attention when you actually do take it to market. Companies like Amazon understand this well and are rightly famous for their “work backwards” philosophy.

Building Product in a Post-GDPR World

Mind the Product

You should treat your customers’ personal data in the same way you’d expect your bank to treat your savings – with iron-clad data security and clear processes for how to handle it in an acceptable manner. It’s GDPR week! Keep Calm and Manage Data Responsibly! I’m not going to go into an exhaustive breakdown of exactly what GDPR is, as there are plenty of other perfectly good posts about that.

Discussing Teamwork and Measures on Agile for Humans

Johanna Rothman

The rest of the time they were so far under their predictions, they should have put the money in a bank account at 1% interest.). Ryan Ripley interviewed me on his podcast, Agile for Humans 83 about Create Your Successful Agile Project. We had a blast.

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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.

Stories about users and User Stories

Under10 Playbook

Here’s one… User story: As a bank customer, I want to retrieve my card before getting my cash so I don’t forget the card in the machine. For agile teams, the biggest area of friction for agile teams is agreement on what constitutes a story.

Seven Things you can Learn From WeChat Product Development

Mind the Product

They can also connect their bank accounts to WeChat and transfer money to each other just like Venmo, Snapcash or Payments on Messenger. We tend to think of Chinese companies as imitators rather than innovators, but is this fair?