Favorite Parts of Working in the Banking Industry As a Product Owner
Cynthia, a Product Owner at a Foreign Bank in Peru, finds the most rewarding aspect of her career to be the industry's significant potential for innovation, stating that "there's still a lot of Innovations to come in the financial space in Peru". This is evident in her work leveraging technology, such as machine learning to improve credit risk assessment and developing a leading P2P payment application, thereby expanding financial access for customers.
Financial Technology, Innovation, Machine Learning, Product Development, Customer Experience
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Cynthia Panez Velazco
Product Owner
Foriegn Bank
Pontificia Universidad Catolica del Peru, 2014
UCLA Anderson School of Management, MBA
Engineering - Industrial
Finance (Banking, Fintech, Investing)
Product / Service / Software Development and Management
Immigrant, Worked 20+ Hours in School
Video Highlights
1. The financial services industry offers significant opportunities for innovation, particularly in leveraging technology to improve products and customer experience.
2. Machine learning applications, such as predicting loan defaults, can expand customer bases and increase financial access.
3. The industry is ripe for disruption, with innovations such as P2P payment applications improving traditional in-person banking processes and showing great success in specific markets.
Transcript
What do you enjoy most about being in your industry?
As I mentioned, I worked mainly in the retail banking industry in Peru. This industry is very innovative, or it has a lot of room for innovation. There are still many transactions in the financial and services space that need to be disrupted.
That's what I enjoy most about my work: how we can leverage technology to improve the products we offer to our customers and improve their experience. For instance, at the bank, we use machine learning to improve models that predict default.
With improvements in those indicators, we were able to expand our customer base and provide more financial access to more customers. Another example from Peru is that most transactions were still in person; people were still going to the bank branches and paying with cash.
So the bank came up with a P2P, person-to-person payment application, similar to Venmo. It was a great success in Peru; it's the leading application there currently in terms of fintech. I still believe there's a lot of innovation to come in the financial space in Peru.