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Product Thinking Newsletter by Melissa Perri

Introducing Friction as a Feature

Published about 2 months ago • 3 min read

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Hi Product people,

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How do we build financial products that truly meet the needs of older adults, while keeping them secure and user-friendly?

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This week on Product Thinking, I had an enlightening conversation with Tony Brancato, Chief Product Officer at Charlie Financial. We explored the challenges of designing financial products for the senior demographic, which is often overlooked in the tech world.

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Tony shared his insights on how Charlie Financial is innovating to provide peace of mind and security for older users, while ensuring their banking experience is smooth and accessible.

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"The financial services industry for the last 30 years has been eliminating friction wherever they can. While that might make for a better user experience, it's simultaneously making it much easier for fraudsters to run away with the money. Our perspective is that friction isn't just a helpful part of the experience. It's actually an essential part of the experience."

We discussed the concept of "intelligent friction" and how strategic pauses in transactions can prevent fraud. Tony also highlighted the importance of empathy and listening to customer feedback in creating products that resonate with their needs.

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Have you tackled similar challenges in your product management journey? I'd love to hear your thoughts. Join the conversation on LinkedIn or reply to this email!

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🎧 Listen to the full episode here: Apple | Spotify

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Looking forward to hearing from you!

See you in the new year,

Melissa Perri

Founder Product Institute, Board Member, and Teacher
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You’ll hear us talk about:

  • 07:15 - Understanding Different User Needs Across Ages

Tony explains the distinct differences between 62-year-olds and 75-year-olds when it comes to digital banking needs and preferences, highlighting how product features must be tailored accordingly to meet diverse expectations.

  • 12:59 - Designing Intelligent Friction to Prevent Fraud

Discover how Charlie Financial's Fraud Shield introduces strategic friction to secure transactions and empower users to prevent fraud, offering peace of mind and control over their financial activities.

  • 23:12 - Measuring Success Beyond App Usage

Tony discusses how Charlie Financial measures success not just by app engagement, but by the financial health and security of its customers, emphasizing the educational aspect of their services to help users recognize and prevent scams.

Episode resources:

Charlie Financial: https://www.charlie.com/

Tony on LinkedIn: https://www.linkedin.com/in/tonybrancato/

Other Resources:

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THE PRODUCT THINKING PODCAST IS SPONSORED BY

Product Management training at scale for teams and individuals, created by Melissa Perri.

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Do you have a product dilemma you just can’t solve? Are you in need of some pointed career guidance? We’ve got a direct line to Melissa, so now’s your chance to ask her anything you’d like. You can record a voice message here, or you can submit a question via form below. Melissa just might answer it in a future Dear Melissa segment of the podcast.

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The CPO Accelerator is a members-only live virtual course for product leaders taught by Melissa Perri. The move from product leader to VP or CPO can be challenging. It takes a whole new set of skills to succeed at the next level, and you may be the first person at your company to hold this seat at the executive table.

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Product Thinking Newsletter by Melissa Perri

All things Product Management

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