Introduction:

Welcome to the Mastermind PESE Series, where we share expert knowledge on Product and Systems Engineering for both Consumer and Enterprise Products. This series is all about providing you with actionable insights and practical knowledge that you can apply in your product management career.

Meet Kuburat Abubakar:

Kuburat Abubakar is a distinguished Senior Product Manager at a leading fintech company specializing in payments and SaaS. With over seven years of experience in FinTech, digital finance, and banking, she has a proven track record of driving product innovation, optimizing business strategies, and enhancing user experiences.

As the co-founder of Monimoore, a personal finance platform leveraging open banking, Kuburat is dedicated to advancing financial literacy and accessibility. Her impactful contributions to digital and financial inclusion have earned her the prestigious Global Tech Hero Award.

An expert in Business Analysis and SAFe Agile methodologies, she seamlessly bridges the gap between technical teams and business stakeholders, delivering scalable, user-centric solutions. Throughout her career, she has led large cross-functional teams and developed market-driven products tailored to both African and global audiences.

Beyond product management, Kuburat is deeply committed to mentorship and knowledge sharing, actively guiding and empowering the next generation of product managers and tech professionals.

Goal:

In this exclusive episode, we tap into the expertise of Kuburat Abubakar to offer invaluable insights into the product management interview process within Africa’s dynamic fintech industry. Join us as we dive deep into practical strategies and real-world applications that you can implement today to elevate your PM job search and stand out in the competitive market.

“Opportunities expand with every step you take. The more you embrace them; the more doors unlock.”

Understanding the Fintech Role What does a Fintech Product Manager do, and how is it different from a traditional Product Manager role?

A Fintech Product Manager (FPM) spearheads the creation and rollout of financial technology products and services designed to be secure, compliant, and user centric. Distinct from traditional product managers, FPMs must skilfully navigate intricate regulatory landscapes, manage risks, and integrate with complex financial systems—all while fostering innovation within the bounds of compliance. Positioned at the forefront of technological advancement and the dynamic realm of global finance, FPMs are entrusted with crafting solutions that transform how individuals and businesses manage their finances. In this multifaceted role, a Fintech Product Manager blends deep technical knowledge with strategic business acumen, driving the future of financial technology.

What are the key skills required to succeed as a Fintech Product Manager?

Fintech product management requires a unique combination of financial expertise, regulatory awareness, technical knowledge, and strong problem-solving skills. To excel in this field, a Fintech Product Manager (FPM) must master several key areas:

• Financial Acumen: A deep understanding of financial concepts, banking operations, and payment systems is crucial for success in fintech. FPMs must grasp how traditional and digital banking systems work, including card networks like Visa and Mastercard, as well as emerging payment technologies such as cryptocurrencies and mobile wallets. Additionally, knowledge of financial markets, asset management, and risk management helps in designing secure and efficient financial products.

• Regulatory Knowledge: Fintech operates within one of the most heavily regulated industries, requiring PMs to navigate complex compliance frameworks while fostering innovation. Understanding key regulations such as PCI-DSS (Payment Card Industry Data Security Standard), GDPR (General Data Protection Regulation), and AML/KYC (Anti-Money Laundering & Know Your Customer) is essential for building compliant and secure financial products.

• Technical Expertise: While a Fintech PM doesn’t need to code, they must understand the underlying technology to collaborate effectively with engineers. Basic knowledge of APIs, data security, and encryption is essential. For example, when developing a cross-border payments solution, an FPM should understand how APIs facilitate real-time settlements, how blockchain technology can reduce transaction costs, and how to comply with local financial regulations.

• Problem-Solving & Data Analytics: Fintech PMs must be highly data-driven, as financial transactions generate vast amounts of real-time data that can drive better decision-making. Key skills include:

• Data Analysis: Understanding transaction trends, fraud detection patterns, and customer behavior to optimize product performance. Risk Assessment – Identifying potential vulnerabilities in financial products and implementing strategies to mitigate losses. By mastering these skills, a Fintech Product Manager can successfully drive innovation while ensuring security, compliance, and seamless user experiences in the ever-evolving world of financial technology.

How does product management in fintech differ across areas like payments, lending, wealth management, or insurance tech?

Fintech product management varies widely depending on the specific sector a Product Manager (PM) operates in. While core principles such as user research, prioritization, and stakeholder collaboration apply across all fintech domains, each vertical comes with its own unique challenges, compliance requirements, and user expectations. We can group some of them into the following:

• Payments: Key challenges in the payments sector include speed, reliability, fraud prevention, and security. Payment fraud is a major concern, requiring PMs to collaborate closely with security teams to implement fraud detection mechanisms, encryption standards, and authentication protocols to protect transactions and user data.

• Lending & Insurance: In lending and insurance, challenges revolve around credit risk assessment, collections, loan servicing, claims processing, and fraud detection. PMs in these sectors must develop strategies to evaluate creditworthiness, streamline loan repayments, and ensure efficient claims handling while mitigating risks associated with fraud.

• Other Fintech Verticals Wealth Management – Focuses on portfolio management, robo-advisors, and regulatory compliance. InsurTech – Deals with risk modeling, automated claims processing, and policyholder engagement.

• Regardless of the vertical—whether payments, lending, wealth management, or Insurtech—a Fintech Product Manager must stay ahead of regulatory changes, leverage technology to enhance financial services, and prioritize user experience. Success in this role requires adaptability, cross-functional collaboration, and a deep understanding of both financial and technological landscapes.

What certifications or courses are valuable for fintech product management?

Agile, Scrum, CFA, or fintech-specific programs)

• Agile & Scrum (Certified Scrum Product Owner, SAFe Agile, Certified SAFe PM/PO)

• Fintech-specific (Oxford Fintech Program, CFTE Fintech Product Management, CFTE Fintech Foundation, MIT Fintech Certificate)

• Financial certifications (CFA Level 1, Financial Risk Manager)

• Technical courses (APIs, blockchain, cybersecurity)

What are the most critical regulations and compliance requirements I should know in the fintech space?

Regulatory and compliance requirements vary by region but mostly include: PCI-DSS (Payments security) CDD (Customer Due Diligence, risk profiles, GDPR/NDPR (Data privacy), PSD2 & Open Banking (Africa, Europe), AML/KYC regulations (Anti-money laundering)

How much technical knowledge do I need about APIs, blockchain, or financial regulations?

While Fintech Product Managers (FPMs) don’t need to write code, they must have a strong grasp of technical concepts to collaborate effectively with engineers, make informed decisions, and drive successful product development.

For example, if you’re building a digital wallet, you need to understand how APIs (Application Programming Interfaces) facilitate bank account linking, secure transactions, and financial data retrieval. APIs are the backbone of modern fintech solutions, enabling seamless integrations between banks, third-party providers, and user applications. Understanding how APIs power payments, banking services, and financial data sharing is essential for developing scalable and secure financial products.

Additionally, knowledge of payments and transactions is crucial. From card networks (Visa, Mastercard) and ACH transfers to SWIFT payments and mobile money, an FPM should understand how money moves through different financial systems. Similarly, if you’re working on a crypto exchange product, you need to grasp how wallets, private/public keys, and liquidity pools function in blockchain transactions.

Having a foundational understanding of APIs, blockchain, and financial infrastructure allows Fintech Product Managers to communicate effectively with engineers, make data-driven product decisions, and drive innovation—all while ensuring compliance with regulatory standards.

Fintech Experience Transitioning into fintech product management—especially from a non-PM role—requires a strategic approach to building relevant skills and hands-on experience. If you're aiming for an Associate Product Manager (APM) role in a fintech organization, consider these key strategies:

• Work on Side Projects: One of the most effective ways to gain experience is by developing a fintech-related product or contributing to an existing project. Even if it's just a mock prototype rather than a fully functional app, working on side projects challenges your problem-solving skills and enhances your understanding of fintech-specific challenges and solutions.

• Seek Internships & Shadow Product Managers: Many fintech companies offer internships, trainee programs, and PM shadowing opportunities, providing valuable hands-on experience. If you're currently in a non-PM role (e.g., marketing, operations, or customer support), consider: Collaborating with the product team on research, user feedback, or backlog grooming. Observing how fintech products are built, tested, and launched in highly regulated environments. Learning about stakeholder management, user experience, and compliance from active PMs.

• Earn Certifications & Take Courses: While a background in finance or technology isn’t always required, certifications can boost your credibility and provide essential industry knowledge.

• Consider courses on: Fintech fundamentals (covering payments, lending, and blockchain). Product management methodologies (Agile, Lean, Design Thinking). Regulatory compliance (AML/KYC, GDPR, PCI-DSS).

• Network & Engage: With the Fintech Community Building connections within the fintech ecosystem can open doors to mentorship, job opportunities, and industry insights.

  Engage by: Attending fintech conferences, hackathons, and summits. Joining fintech-focused communities, Slack groups, and online forums.

  Connecting with experienced fintech PMs on LinkedIn and learning from their journeys. By proactively building skills, gaining hands-on experience, and expanding your network, you can successfully transition into fintech product management and position yourself for an APM role in a leading fintech organization.

Are there internship or entry-level opportunities specific to fintech product management?

Many fintech companies offer job shadowing programs, internships, and trainee opportunities—both internally and externally—to help individuals from non-PM backgrounds gain hands-on experience. These programs allow aspiring product managers to work alongside experienced PMs, contribute to real projects, and develop essential skills. Additionally, fintech firms often hire for Associate Product Manager (APM) roles, which are designed for entry-level professionals looking to break into product management.

Key Skills Fintech Companies Look for in a Product Manager Fintech product management is a demanding field that requires a blend of technical, financial, and strategic skills. When hiring a Fintech Product Manager (FPM), companies typically seek candidates with the following qualifications:

• Strong Understanding of Financial Products & Regulations: Fintech operates in a heavily regulated environment, so companies look for candidates who understand banking systems, payment networks, lending models, and financial regulations (e.g., AML/KYC, GDPR, PCI-DSS).

• Data-Driven Mindset: Fintech PMs must be comfortable using analytics tools to derive insights from financial data. Experience with platforms like Amplitude, SQL, Google Analytics, and Tableau is highly valued.

• Strong Problem-Solving & Critical Thinking: Companies want PMs who can analyze complex financial challenges and develop innovative yet compliant solutions. Demonstrating structured problem-solving skills and risk assessment capabilities is key.

User-Centric Approach: Fintech products must be intuitive, secure, and user-friendly. Employers prioritize PMs who can design seamless customer experiences, simplify financial transactions, and improve accessibility.

How Can Candidates Stand Out in the Hiring Process?

How to Stand Out in the Hiring Process Candidates who can navigate the complexities of financial systems while developing innovative, compliant, and user-friendly fintech solutions are highly sought after. Aspiring fintech PMs should focus on:

• Building financial and regulatory knowledge relevant to fintech.

• Gaining hands-on experience through internships, side projects, or analytics work.

• Developing technical fluency to collaborate effectively with engineers. By honing these skills, you’ll enhance your chances of landing a fintech PM role and thriving in this fast-paced industry.

What should be Acing the Interview Process - What are some examples of specific fintech product interview questions? Behavioural & Technical? - Mastering Fintech Product Manager Interviews: Key Questions & How to Answer Them

Fintech product management interviews typically assess a candidate’s problem-solving skills, technical expertise, regulatory knowledge, and strategic thinking. Interviewers use behavioural, technical, and data-driven questions to evaluate how well you can navigate fintech’s complexities.

• Behavioural Interview Questions: These questions test your experience, collaboration, and decision-making abilities in fintech. Using the STAR (Situation, Task, Action, Result) framework helps structure responses logically. Examples are:

1. Tell me about a time you worked on a highly regulated product. How did you ensure compliance while maintaining innovation? → Showcase how you collaborated with legal, compliance, and risk teams early in the product lifecycle.

2. Describe a time you had to balance multiple stakeholders (regulators, engineers, executives) while building a fintech product. How did you handle conflicts? → Demonstrate stakeholder management and decision-making strategies.

3. Have you ever dealt with a security or fraud issue in a product? How did you resolve it? → Highlight your problem-solving skills and fraud prevention expertise (e.g., KYC, AML, 3D Secure).

• Technical & Product Strategy Questions: These questions assess your understanding of fintech technologies, regulations, and product development principles. Examples are:

1. How would you design a peer-to-peer payments app? What are the key risks and compliance considerations? → Discuss APIs, fraud prevention (AML/KYC), transaction fees, and real-time payment processing.

2. How would you prevent fraud in a digital wallet product? → Explain security measures such as multi-factor authentication, transaction monitoring, behavioral analytics, and chargeback handling.

3. What are the differences between ACH, SWIFT, and instant payment systems? → Demonstrate knowledge of global and regional payment processing methods.

• Data & Performance Metrics Questions: These questions evaluate your ability to analyze data, track key performance metrics, and optimize product success. Examples are:

1. What are the key metrics you would track for a mobile banking app? → Discuss Customer Acquisition Cost (CAC), transaction success rate, churn rate, fraud rate, Net Promoter Score (NPS), etc.

2. How would you measure the success of a new payments feature? → Mention user adoption, transaction volume, failed transaction rate, and revenue impact.

3. If transaction failures suddenly increase by 20%, how would you investigate the issue? → Explain debugging steps, including working with engineering teams, monitoring API responses, and checking regulatory compliance.

To succeed in a fintech PM interview, demonstrate a mix of technical knowledge, strategic thinking, and problem-solving skills. Preparing structured responses to behavioural, technical, and data-related questions will help you stand out as a strong candidate in this competitive field.

What are the common challenges faced by Fintech Product Managers, and how can I prepare for them?

• Regulatory Challenges: Stay informed about evolving financial laws and compliance requirements.

• Fraud Prevention & Security Risks: Work closely with risk and security teams, especially during the product planning stage, to implement robust protection measures.

• Balancing Speed & Compliance: Ensure rapid product development while maintaining adherence to regulatory standards and security protocols.

How do I balance innovation with compliance when designing fintech products?

• Early Collaboration: Engage legal and compliance teams from the project's inception to ensure regulatory alignment.

• Regulatory Sandboxes: Leverage controlled environments for experimentation and testing before deploying in live systems.

• Scalable & Compliant Solutions: Design adaptable, regulation-compliant products that can be efficiently scaled across multiple markets.

How do I manage the complexity of integrating with legacy systems in financial institutions?

• API & Middleware Integration: Utilize APIs and middleware to enable smooth integrations across systems.

• Data Mapping: Ensure accurate and robust data mapping between legacy and new systems.

• Collaboration with IT Teams: Work closely with banking IT teams to overcome challenges posed by legacy system limitations.

What professional networks, events, or conferences should I join?

• Africa Fintech Summit

• PM conferences like Mind the Product

• LinkedIn fintech PM groups

Are there online communities, podcasts, or blogs for fintech product management?

Absolutely! Here are some excellent resources to explore:

• Communities: Product School, Fintech Today, OnDeck Fintech

• Podcasts: Fintech Insider, Breaking Banks, Product Thinking

• Blogs: Andreessen Horowitz’s fintech blog, Medium’s Fintech

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