Innovating Financial Data Sharing Dynamics: A Product Management Success Story at Mastercard
IT ALL BEGAN WITH A VISION…
After successfully revolutionising Mastercard's API product development approach, Donal sought a new challenge that would engage him more closely with external customers. He joined Mastercard’s Open API with the ambition to revamp and modernize the sharing of Bank Identification Numbers (BINs).
BINs, encompassing the initial 6-8 digits of credit or debit cards, play a crucial role in identifying the card issuer, the country of issuance, the card product (premium/standard), and specific card capabilities.
In this pivotal role, Donal conducted comprehensive market research, engaged in customer outreach, and executed product discovery initiatives to pinpoint the addressable market for an enhanced API-based data sharing approach, moving away from static file methods.
DONAL’S MULTIFACETED ROLE
Donal embraced the role of a versatile product manager, embodying the essence of being a "jack of all trades, often better than a master of one." Juggling responsibilities ranging from data analysis, technical liaison, UX design, strategy formulation, stakeholder influencing, and customer advocacy, he led a small team through a greenfield project in less than three months, meeting deadlines for a million-dollar deal.
Connecting directly with customers, Donal leveraged insights to shape a monetization plan, tapping into previously unexplored revenue streams. His adept storytelling skills were instrumental in internal success, effectively "selling" his product to other teams.
ACHIEVEMENTS
Under Donal’s astute leadership, customer growth soared by an impressive 333% in 2023, accompanied by a remarkable 650% increase in direct revenue.
Donal orchestrated five successful internal collaborations, automating outdated data-sharing processes. This resulted in savings of over five months in manual tasks, contributing to the success of more than 100 deals and generating millions in additional revenue for these teams.