MockQuestions

Fintech Product Manager Mock Interview

To help you prepare for your Fintech Product Manager interview, here are 25 interview questions and answer examples.

Fintech Product Manager was written by and published on March 16th, 2021. Learn more here.

Question 1 of 25

Tell me the differences between a project manager and a product manager.

How to Answer

The interviewer is testing your knowledge of the fintech product manager role. Since it is frequently confused with the role of the project manager, they want to ensure you know the differences between the two.

Written by Marcie Wilmot on March 16th, 2021

Next Question

List of 25 Fintech Product Manager Interview Questions & Answers

  • Competency

    1.

    Tell me the differences between a project manager and a product manager.

      How to Answer

      The interviewer is testing your knowledge of the fintech product manager role. Since it is frequently confused with the role of the project manager, they want to ensure you know the differences between the two.

      Written by Marcie Wilmot on March 16th, 2021

      1st Answer Example

      "The way I understand it, a project manager makes sure the product stays on budget and is delivered on time. They also handle the meetings, diving into the details and keeping track of who is doing what. Meanwhile, the product manager, while still overseeing the delivery of the product, really focuses on making sure the product is successful in the market. The product manager sets the vision for the product, gathering and prioritizing requirements, while the project manager acts upon this vision to ensure it is implemented on time and within budget. The two roles naturally work together and complement each other but are distinct."

      Written by Marcie Wilmot on March 16th, 2021

  • Competency

    2.

    How do you communicate your product vision?

      How to Answer

      It's important that a fintech product manager be able to build a consensus around their product's vision and strategy by key stakeholders. Discuss with the interviewer the techniques and tools you use to do this. Be sure to emphasize that you bring everyone on board and don't just announce and push through your idea without support.

      Written by Marcie Wilmot on March 16th, 2021

      1st Answer Example

      "I use various methods to explain and communicate the strategy and idea I've developed around a new product. In part, the method I use depends on my audience. But, most importantly, I strive to make sure everyone buys in on the idea and understands why it's a good one. In particular, I use data and analytics to support my recommendations. I also make sure to provide a roadmap with a timeline so everyone can see how long the project will take. Depending on who the stakeholders are and how many of them there are, sometimes I meet one-on-one with them while other times I hold a larger meeting with multiple people present. In the end, I make sure that I clearly explain my reasons, support them with data, and make sure everyone understands why we're looking to move in this direction."

      Written by Marcie Wilmot on March 16th, 2021

  • Competency

    3.

    What methods do you use to determine what customers want and need?

      How to Answer

      It's crucial that a fintech product manager know how to conduct customer research so they can clarify what market opportunities exist. The interviewer wants to know what kinds of methods you might use to connect with customers to find out what they need and want. Try to provide some examples of times in the past when you've performed this type of research and what the outcomes were.

      Written by Marcie Wilmot on March 16th, 2021

      1st Answer Example

      "It's imperative that fintech product managers be skilled in conducting customer research so that they can determine product positioning and requirements and understand competitive landscapes. Over the years, I've gained a lot of experience in performing market research that has helped to ensure the success of multiple products I've helped launch. I've administered surveys and questionnaires, in addition to looking at data and analytics, which provide quantitative results. I've also used qualitative methods like focus groups, interviews, and customer observation. Occasionally, I use secondary research tools as well, including commercial and public sources."

      Written by Marcie Wilmot on March 16th, 2021

  • Competency

    4.

    What would you improve about our product?

      How to Answer

      This can be a somewhat challenging question to answer but really what the interviewer wants to see is that you have researched their company and its products. You will want to talk knowledgeably about what their company does and make a thoughtful suggestion or two about how they might improve one of their products. Make sure to lead off with some of the things that you like about their product so your response is more positive than negative.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Competency

    5.

    In your opinion, what makes a good fintech product?

      How to Answer

      A fintech product manager should be able to identify and develop good products. This means they should have some criteria in mind when judging whether a fintech product is well designed or not. Talk to the interviewer about what you take into consideration when determining this.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Competency

    6.

    What processes and methods would you use to launch a new fintech product?

      How to Answer

      A huge part of a fintech product manager's role is launching new products. The interviewer will want to know that you are knowledgeable and experienced in this area. Discuss the processes you follow to develop a launch strategy and plan, as well as how you monitor and measure your progress. You'll want to show that you're a team player and collaborative, in addition to being a leader who is competent and in charge.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Competency

    7.

    How will you gain credibility from the engineering and development teams when you are first hired?

      How to Answer

      As a fintech product manager, you will be expected to lead. It's not always easy to jump right into an established team and immediately be respected, liked, and considered credible. The interviewer wants to find out how you will initially engage with the team, as well as how you plan to listen and communicate with them.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Competency

    8.

    How experienced are you in the end-of-life process for a product?

      How to Answer

      It's important that a fintech product manager know how to shut down a product or service. Talk to the interviewer about the various elements you would take under consideration during this process. If possible, cite personal examples. Consider emphasizing how important it is to not lose large clients or damage the company's image when going through this process.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Discovery

    9.

    What has been your most successful product to date as a fintech product manager?

      How to Answer

      The interviewer wants to know that you are capable of identifying and bringing a new fintech product to market. No matter the example you choose to discuss, make sure to mention quantifiable metrics and measures that prove the product you oversaw added value to the business. Be detailed in your reply, and show that you drove the project.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Discovery

    10.

    How does this job fit into your overall career trajectory?

      How to Answer

      Most people have an idea of how they see their career going and where they want to be in three to five years. The interviewer wants to make sure you don't view this job as a short-term stepping stone. While most people don't stay at a single company for life anymore, the interviewer wants to be sure that you aren't going to up and leave six months after they hire you. Assure them that you are looking to stay with their company for a long period of time.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Discovery

    11.

    What do you think are the most exciting fintech trends right now?

      How to Answer

      Fintech product managers need to be on top of the latest trends so they can spot new market opportunities. Talk to the interviewer about some of the current trends in fintech. Discuss how you stay abreast of new industry happenings and how you might integrate them into the solutions you are bringing to market.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Scenario

    12.

    How would you describe our product to someone who wants something similar but cheaper?

      How to Answer

      Product managers are in charge of a new product's overall vision. They need to be able to translate that vision into everyday language that colleagues and prospective customers will understand. With this question, the interviewer is testing your communication skills and whether or not you researched their company and its products prior to the interview. Consider mentioning product features, cost/benefits, and user testimonials during your answer.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Scenario

    13.

    Let's say we're rolling out the successor to our most popular product. How do you position the legacy product so it continues to sell?

      How to Answer

      An experienced fintech product manager will be expected to have some ideas about how to handle legacy products. If you've been through this before, use the STAR (situation, task, action, result) method to talk through what happened, your role in it, and what the final outcome was. If you haven't, theoretically discuss how you would handle this; display a strong understanding of the company's products and target audience, in addition to providing some ideas about how you would position the older product so it still has appeal.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Scenario

    14.

    What would you do if it looked like you were going to miss your deadline? Would you cut any corners?

      How to Answer

      There are going to be times as a fintech product manager when you just aren't able to meet the deadline. An experienced product manager will recognize this in advance and explore different options in a quest to salvage the project's timeline. Discuss how you would handle this type of situation and what actions you might consider taking.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Situational

    15.

    What is the hardest decision you've ever made as a fintech product manager?

      How to Answer

      Many times product managers have to make challenging and complex decisions that impact many people and even the overall direction of their company. The interviewer is looking for someone who won't be intimidated by making a tough choice and who will lead others. Give an example of a time when you made a hard decision; explain the research and analysis that went into the decision-making process, how you communicated it to your colleagues, and how it impacted the company.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Situational

    16.

    Can you tell me about a time when you failed and what you learned?

      How to Answer

      Any experienced fintech product manager will have failed at one point or another. The important thing is that you learned from the experience. Talk to the interviewer about a time when things didn't go as planned. Emphasize the lesson(s) that you carry forward with you.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Situational

    17.

    Describe a time when you had trouble reaching a consensus and how you handled it.

      How to Answer

      Fintech product managers frequently have to persuade others to support a vision that they've set for a product, which can be a challenge. Talk to the interviewer about the actions you would take to overcome objections and bring key stakeholders to a consensus. If possible, use the STAR method (situation, task, action, result) to describe how you've handled this before.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Situational

    18.

    Can you talk about a time when you had to deal with a conflict?

      How to Answer

      As a fintech product manager, it will be your responsibility to make sure your team stays on track. Whether a conflict arises between you and a team member or between two team members, you will need to resolve it quickly so that everything stays on schedule. Show the interviewer that you are a good listener and empathetic.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Technical

    19.

    What KPIs do you typically use to track performance and success?

      How to Answer

      Fintech product managers use a variety of key performance indicators (KPIs) to monitor and measure performance. You'll want to mention several KPIs and explain how you use them. Make sure to provide examples from various categories, including business, product development, product quality, and product usage metrics.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Technical

    20.

    Tell me what GDPR is and what you know about it.

      How to Answer

      The European Union's General Data Protection Regulation (GDPR) impacts fintech product managers everywhere given the globalization of the internet and since apps can be downloaded from anywhere in the world. The interviewer wants to know that you're familiar with what the GDPR is and how to be in compliance with it. Make sure to research this before the interview so you can easily discuss it.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Technical

    21.

    Talk to me about what scalability, securability, billability, and reliability mean in the context of a SaaS fintech product.

      How to Answer

      The interviewer wants to know that you're familiar with the various elements that are necessary to launch and maintain successful SaaS fintech products. Explain how you define these terms and, if possible, give examples of them in action.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Technical

    22.

    Tell me about the elements that comprise a competitive analysis.

      How to Answer

      It's likely the interviewer is looking for you to break this question down into two parts. First, you'll want to discuss what a SWOT analysis is and how you perform one. Second, talk about how to conduct a technical feature-by-feature competitor comparison. Show the interviewer that you have a thorough understanding of all aspects of a competitive analysis.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Technical

    23.

    How do you define low-hanging fruit?

      How to Answer

      The interviewer is testing you to make sure you're knowledgeable about relevant terminology. Prior to the interview, brush up on various product manager terms and concepts so you can easily answer these kinds of questions. Be direct, and give examples whenever possible.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Technical

    24.

    What is the top technical skill that you possess?

      How to Answer

      There are a variety of technical skills that the interviewer would love for you to have, including being an expert at collecting, extracting, and analyzing data, using Excel, running A/B tests, churning out prototypes, and knowing how to code, among others. Talk to them about one skill in particular that you excel at and enjoy. If possible, give an example of a time when using that skill resulted in a positive outcome.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view

  • Technical

    25.

    How do you define market opportunity in a business plan?

      How to Answer

      One of the essential roles of a fintech product manager is to be able to analyze and identify market opportunities for the business. The interviewer wants you to define what a market opportunity is and explain how you would go about locating one.

      Written by Marcie Wilmot on March 16th, 2021

      Answer Examples Have Been Hidden

      Please upgrade to view