The main challenges the banks are facing now in the area of product management are the following:
- Absence of a remote-work policy with detailed specific dos and don’ts and ensure each employee signs the document. So, there is no process on the place as a big part of the banks before the corona crisis didn’t allow even partial remote work (let’s say 1-2 days a week). And because of that, banks are holding constant, endless conference calls meetings to define the rules on the run right now.
- IT infrastructure not ready. Though, solutions for remote product/project management, digital signatures, etc., exist on the market. The banks that were not investing in the digital tools suffering this problem right now. So, this is a lack of digital experience in the internal processes of the banks. The banks that were not investing in digital tools – this is a time to do this right now.
So, it’s more about methodology as actually working remotely is suitable for project-oriented jobs. And product management is that type of job. You measure by the outcome and not by the physical presence.
See the full video below.