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What FinTech Product Managers Need to Know in 2024

Lina-Anna Rynty

Senior Product Manager ,


In recent years, the FinTech industry – the dynamic and ever-evolving sector at the intersection of finance and technology – has been a hotbed of innovation. FinTech has reshaped the financial landscape, revolutionizing how we manage money, conduct transactions, and explore new investment opportunities.

As we close out 2023 and evaluate the prospects for 2024, it’s essential to explore the future trends that will define product management in FinTech. These trends will not only influence how we engage with our finances, invest, and navigate digital financial services, but will also reshape how we interact with our financial resources.

Improved user experiences

The user experience (UX) remains incredibly important in financial services, and FinTech product managers will invest heavily in enhancing the overall user experience in 2024. This will involve optimizing user interfaces, refining the usability of financial applications, and ensuring a seamless and secure customer journey. FinTech companies will not only compete on functionality but also on the ease and satisfaction with which their products can be utilized.

Using AI and machine learning to personalize products

Artificial intelligence (AI) and machine learning (ML) will continue to play pivotal roles in the management of FinTech products. These technologies will be harnessed to analyze vast volumes of financial data, providing consumers with tailored financial advice, investment recommendations, and personalized solutions. Chatbots and virtual assistants will also continue to evolve to offer real-time assistance to users. The biggest benefits for businesses will likely come from mass adoption of simple tools like ChatGPT and Microsoft Copilot-like assistants, that work alongside popular Microsoft 365 apps like Word, Excel, PowerPoint, Outlook, and Teams, to provide real-time intelligent assistance, enabling users to enhance their creativity, productivity and skills.

A resurgence of peer-to-peer lending

Peer-to-peer (P2P) lending platforms will likely experience a revival as consumers seek alternative lending options. These platforms will compete with established banking institutions by offering attractive interest rates and expediting lending processes. P2P lending will reshape the lending landscape as risk assessment algorithms advance and regulatory clarity improves.

Expansion of Banking as a Service (BaaS)

Banking as a Service (BaaS) is a model where licensed banks integrate their digital banking services directly into the products of other non-bank businesses. This allows a non-bank business to offer its customers digital banking services such as mobile bank accounts, debit cards, loans, and payment services, without needing to acquire its own banking license.

BaaS is set for rapid growth in 2024. Through Application Programming Interfaces (APIs), traditional banks and FinTech startups will increasingly collaborate to deliver banking services. This will enable non-banking enterprises to seamlessly integrate financial services into their products, resulting in a more joined-up customer experience.

APIs and open banking

Open banking initiatives will continue to gain momentum. This will necessitate the use of APIs by FinTech product managers in order to establish connections with financial institutions and third-party providers. This will pave the way for the development of comprehensive financial ecosystems – where customers can access a variety of financial services through a single app or platform. In open banking environments, product managers will need to carefully navigate the increasing complexities of data sharing and security.

Integration of cryptocurrencies and blockchain

As cryptocurrencies gain traction, FinTech firms will look for ways to incorporate blockchain technology into their product offerings. This may include the creation of cryptocurrency wallets, facilitation of cryptocurrency payments, or provision of blockchain-based financial services. In this evolving landscape, product managers will need to understand the regulatory framework and respond to consumer preferences.

Regulatory compliance

FinTech product managers must remain vigilant about regulatory and compliance changes. With heightened scrutiny of financial regulations, data protection laws, and cybersecurity standards, maintaining compliance is non-negotiable. Product managers will have to collaborate even more closely with legal and compliance departments to ensure their products meet all the necessary specifications.

Financial inclusion and user-centric design

Financial inclusion will remain a significant focus in FinTech product management. Product managers will work diligently to develop products and services tailored to the unbanked, underbanked and underserved populations. Additionally, there will be increased implementation of accessible design principles to ensure that individuals with disabilities can effectively utilize financial products.

Digital collectibles and NFTs

Non-fungible tokens (NFTs) and digital collectibles are gaining popularity in financial services. Product managers will explore platforms and solutions that enable users to buy, sell and trade NFTs. The challenge lies in ensuring the security and authenticity of digital collectibles while delivering a user-friendly experience.

Innovation, adaptability and planning

Innovation, together with adaptability and planning will be key to navigating the FinTech landscape in 2024. With a series of disruptive forces shaping the FinTech landscape, and the user experience to the fore, product managers must reimagine financial technology interactions. Personalization, through AI and machine learning, will provide customized financial solutions, whilst open banking and APIs will connect a unified financial ecosystem.

FinTech product managers play a pivotal role in shaping the future of finance. By embracing these trends, they can drive their companies to success and contribute to the ongoing transformation of the financial industry itself

The Author

Rachel Anderson, Digital Lead at Synechron UK
Lina-Anna Rynty

Senior Product Manager

Lina-Anna Rynty is a Senior Product Manager at Synechron working with tier 1 global fintech clients. Since joining the company in 2022, she has gained extensive experience guiding the development and management of products within fintech and banking sectors, that serve thousands of users. She comes with over 10 years of experience driving the building and development of complex digital products using technological capabilities such as AI/ML. Lina’s collaborative approach enables aligning stakeholders across Product, Cloud, Engineering, and Design.

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