Is your payments product a dessert topping or a floor wax?

Busy credit union managers must carefully define what an offering is and isn’t.

Many people at a credit union wear many hats. But payments product managers are bending over backwards to handle everything they are given to do, according to Steve Williams, principal of CUES Supplier member and strategic provider Cornerstone Advisors Inc., Scottsdale, Ariz.

During CUES’ new Payments University last week in San Francisco, Williams told attendees that product managers have to take the long view of their list of duties and stay focused on exactly what their credit unions’ payments products should be.

“We’re a dessert topping or a floor wax, but we can’t be both,” Williams quipped.

Here’s the full list of payments product manager duties he presented to the group:

  • define product strategy and roadmap;
  • deliver product specifications with prioritized features and corresponding justification;
  • work with third parties to assess partnerships and licensing opportunities;
  • be an expert with respect to the competition;
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