How To Succeed In Product Management | Jeffrey Shulman, Red Russak & Soumeya Benghanem 10: How Different is a FinTech Product from Other Industries?
Jul 28, 2021
01:01:50
In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board members Red Russak and Soumeya Benghanem welcome Herman Man (BlueVine) and Ambika Sharma (US Bank) to discuss how uniquely different financial services is from other products yet they share the same goal and that is to understand the what and why of a customer and then building a roadmap around that.
Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.
What to Listen For:
- 00:00 Intro
- 01:24 As a FinTech product manager, how do you relate to other industries?
- 04:22 The nuance that comes with financial services
- 07:56 FinTech is a huge opportunity where you find something that works for the audience
- 09:55 FinTech and healthcare industries are parallel in a way that there should be trust, stable, and reliable
- 12:58 Start with understanding what it is that you can’t do
- 15:25 Influence without authority, prioritizing which experiments
- 19:42 Grit and intuition creates a good product manager
- 21:39 Figuring out whether or not the idea sticks
- 24:24 What is product innovation in the FinTech space?
- 28:16 The biggest issues with invoice factoring
- 29:39 Keeping an eye on the changing landscapes and finding opportunities to leverage
- 33:00 The impact of retail trading on different product areas
- 34:57 Business competition possibly affecting a PMs roadmap
- 38:12 Customers understand their problems but can’t express how to solve it
- 41:48 Coming up with the right solution is going to require intuition
- 45:23 Monthly cadence makes a formal process go smoother
- 48:35 Partnering closely with internal partners
- 50:26 Being a PM in FinTech making a financial difference to people's lives
- 52:25 There is no general rule that is always true
- 54:00 Always understand the what and the why of a customer
- 56:40 The success factors are always passion and curiosity