Hiring product managers for fintech, and crypto platforms is challenging. These industries constantly evolve and require product managers who can stay up-to-date with the latest technologies and regulations.
In this article, we will discuss how the professional landscape for product managers in fintech and crypto platforms is changing and the implications for CPOs and CTOs hiring in the fintech space.
Finance Product Manager: A role in constant change
The role of product managers in fintech, and crypto platforms is constantly evolving. These industries are driven by rapid technological innovation, and product managers must be able to adapt and stay up-to-date with the latest trends and technologies. In addition, the increasing complexity of financial productsas well as the increasing regulatory requirements in these industries, has resulted in a shift in the responsibilities of product managers.
The field of Fintech includes an ever-growing list of products. It includes spot trading, which allows for the trade of assets at their current market price; margin trading, which allows traders to borrow funds in order to make larger trades; futures, which are contracts that commit a buyer or seller to a predetermined price for an asset at a future date; perpetual swaps, which are similar to futures but do not have a fixed expiration date; and options, giving the holder the right but not the obligation to trade assets at a predetermined price.
These products all come with complex back-end services, such as clearing and settlement, and UX that needs to be intuitive and easy to use. New business models are also being developed in the fintech space, such as decentralized finance (DeFi), which utilizes smart contracts and blockchain technology to enable peer-to-peer financial transactions without intermediaries.
Product managers need to understand and be able to manage the whole life cycle of products, from ideation to product launch and beyond.
Differences and similarities between the product manager role in fintech and crypto
Product managers in fintech and crypto industries share many common responsibilities, including developing and executing product strategies, gathering and analyzing market data, defining product requirements, and working with cross-functional teams to bring products to market. However, there are also some key differences between them.
Fintech product managerstypically work for startups or other innovative companies using tech to disrupt traditional financial services. They develop and manage products related to technology-driven financial services, such as mobile payments, online lending, and financial management software. Fintech product managers must be agile and adaptable as they operate in highly competitive and rapidly-changing markets.
Crypto product managerswork with products related to cryptocurrencies and blockchain technology. These products may include crypto exchanges, wallets, payment systems, and other applications that utilize blockchain technology. Crypto product managers need a strong understanding of blockchain and crypto tech and the ability to navigate the complex and often volatile markets for cryptocurrencies.
Blurred lines and an increased focus on regulatory compliance
One clear trend is the blurring of lines between traditional financial services and fintech and between traditional financial services and crypto. As financial technology advances, more financial services will be delivered digitally, and traditional financial institutions will increasingly adopt tech-driven business models. This creates new opportunities for product managers who are able to bridge the gap between traditional financial services and fintech or crypto and have a strong understanding of both technical and business aspects.
Another trend is the increasing focus on regulatory compliance. In the wake of the FTX scandals and other high-profile cases of financial wrongdoing, regulatory agencies worldwide are increasing their oversight of financial services, fintech, and crypto industries. This means an increased demand for product managers who are able to navigate the complex regulatory landscape.
Finding the right talent is business-critical
In conclusion, product managers play a critical role in the development and management of products and services, and their skills have a significant impact. By identifying and attracting top talent, businesses can position themselves for success in the dynamic and rapidly-changing world of finance.