Summary

In this episode, Leah and Marilyn dive into the world of fintech and its intersection with product management. They break down what fintech encompasses—everything from payments to lending and wealth management—and discuss their vast experiences in the field. The conversation highlights key elements such as the movement of money, the importance of security, compliance with regulations, and the challenge of creating user-friendly financial products. They explore how product management in fintech mirrors product management in other industries but comes with the added complexity of building customer trust around financial transactions.

Key Takeaways

• Understanding Financial Transactions: Fintech product managers must have a solid grasp of how money moves within systems, along with the layers of security and compliance that accompany it.
• User Experience is Key: Creating a seamless and intuitive user experience is essential, as users expect secure and effortless interactions with their financial transactions.
• Unique Regulatory Challenges: Fintech brings unique regulatory challenges, and product managers must ensure that their products adhere to constantly evolving standards.
• Trust is the Foundation: While product management skills are transferable, building customer trust is more critical in fintech, requiring a deeper understanding of financial systems and regulations.

In this episode, Leah and Marilyn delve into the often-overlooked negative aspects of product management, highlighting how certain practices can harm users. They cover the ethical concerns surrounding manipulative marketing tactics, the pervasive use of cookies for tracking user behavior, and the role of algorithms in fostering echo chambers and amplifying divisive content. Throughout the discussion, they emphasize the need for product managers to consider the long-term consequences of their decisions, advocating for a more responsible approach to product development that prioritizes the well-being of users and society at large.

Key Takeaways

• Long-Term Impact: Product managers must consider the long-term effects of their products on users and focus on creating solutions that enhance, rather than diminish, quality of life.
• Ethical Marketing: Avoid using manipulative marketing tactics, such as fear, guilt, or urgency, which can negatively affect users and erode trust.
• User Privacy: The practice of using cookies to track and collect data without user consent is unethical and needs to be addressed through more transparent and respectful data practices.
• Algorithmic Responsibility: Algorithms that create echo chambers and amplify controversial content contribute to societal polarization and should be reassessed to promote healthier discourse.

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In this episode, Leah and Marilyn sit down with Haresh Bajaj, the VP of Product Growth at PLEO, to delve into the evolving landscape of product management. Haresh sheds light on the critical role of product growth, which goes beyond traditional product management by focusing on driving user growth, increasing revenue, and managing cross-functional teams. As the head of the SMB business at PLEO, Haresh shares valuable insights on how product managers can elevate their impact by balancing revenue, costs, and customer experience. This conversation offers a fresh perspective on how product management roles are broadening to encompass the overall success of the business.

Key Takeaways:

• Product growth is more than just product management. It's about driving user growth, revenue, and effectively managing cross-functional teams to ensure business success.
• Product managers need to focus on the big picture. Balancing revenue, cost, and customer experience is essential in today’s product management roles.
• The role of product management is expanding. Product managers are now expected to take on a broader charter, being directly involved in driving the business forward.

Questions for Product Managers:

1. How can you align your product management efforts with broader business goals like revenue growth and cost management?
2. In what ways can you collaborate more effectively with cross-functional teams to drive product and business success?
3. Are you ready to embrace the expanding role of product management and take on a more strategic position within your organization?