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Scandinavian Product Podcast
#24 Product Operating Model inside Norway's best mobile bank | Thomas Allan Nygaard (Sparebank1)
Nov 28, 2024
Thomas Allan Nygaard, Product Leader at Sparebank 1, shares insights from Norway’s best mobile bank. He discusses the bank's transition to a daily release model, empowering small autonomous teams for faster product development. The importance of balancing user feedback and risk is highlighted, alongside the value of OKRs in aligning team goals with company objectives. Nygaard also emphasizes individual growth as crucial for team effectiveness and shares strategies for simplifying product strategy to enhance value creation.
45:37
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Quick takeaways
- Sparebank 1's transition to smaller autonomous teams significantly enhanced their product development speed and agility, enabling rapid responses to customer needs.
- The organization emphasizes continuous discovery and data-driven decision-making to minimize product development risks and optimize value creation for users.
Deep dives
Transforming Release Frequency
Between 2014 and 2017, the organization experienced a dramatic increase in release frequency, going from three major releases annually to 4,000 releases per year. This shift was driven by market demands for quicker product iterations and was made possible by restructuring their online banking system into smaller, autonomous building blocks. Teams gained ownership over their applications and could work independently, which significantly enhanced the speed and agility of their development processes. As a result, the organization could respond rapidly to customer needs, fostering a culture of continuous improvement and innovation.
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