Master 25 Fintech Product Manager interview questions covering payments, regulation, and product strategy.
Question 10 of 25
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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.
"In my experience, there's a lot to consider when shutting down a product line for a company. First, there's the high-level decision-making that goes into choosing to do this. What is driving this decision? After the decision has been finalized, there's the need to inform and prepare the sales team so they can communicate this appropriately to customers. When I was last involved in the end-of-life process for a product, there was a ton of discussion around how to migrate customers to various alternative products. And then we had to effectively communicate this to the customers and help them make the change. We also had to consider the financial aspect of this decision. For example, would the company offer any refunds or rebates? Also, was the opportunity there to upsell customers? My team and I also had to make decisions about when to stop selling the product, when to discontinue its availability, and when to stop providing customer support in relation to it. Finally, we had to think about our larger customers and make sure we were still fulfilling our contractual obligations to them. It's not an easy process and there's a lot that goes into it, but I have experience in this area and am capable of successfully carrying it out from start to finish."

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Written by Marcie Wilmot
25 Questions & Answers • Fintech Product Manager
By Marcie
By Marcie