After spending years building financial products, I've watched countless promising ideas soar to success in weeks only to crash and burn within months. Consumer finance is especially unforgiving: hard-earned money is at stake, user expectations are sky-high, and the market is crowded. It's tempting to toss in features like confetti, hoping something sticks. But that approach is a guaranteed path to failure. Here's why—and what works instead.
The Perils of Feature-First Development
When creating a financial product from scratch—or migrating paper-based processes to online banking—it's easy to get swept up in feature excitement. You think, "If I just add one more thing that solves this user problem, they'll love me!" Then reality hits: the security team rejects it, the feature isn't as popular as predicted, or it breaks due to unanticipated complexity. This cycle leads to bloated, confusing experiences.
Why More Isn't Better
The Minimum Viable Product (MVP) concept, championed by Jason Fried in Getting Real and his Rework podcast, offers a smarter path. An MVP delivers just enough value to keep users engaged without overwhelming them or complicating maintenance. It sounds simple, but it demands a ruthless focus and the courage to say no—especially when someone inevitably pushes for "just one more thing" (what I call the Columbo Effect).
When Internal Politics Hijack User Experience
Unfortunately, many finance apps become mirrors of internal business politics rather than customer-centered tools. The goal shifts to satisfying competing departments, resulting in a feature salad—a jumble of unrelated, confusing, and ultimately unloved capabilities. Users don't care which department demanded what; they want a clear, valuable experience focused on their real-world needs.
The Bedrock Approach: Build What Truly Matters
So how do we create products that are stable, user-friendly, and—critically—stick around? Enter the bedrock concept. Bedrock is the core element of your product that provides genuine, lasting value to users. It's the fundamental building block that remains relevant over time. In retail banking, for example, bedrock is the routine servicing journey. People open a current account once in a blue moon, but they check it daily. They sign up for a mortgage occasionally, but they make payments every month. Focusing on these daily touchpoints—not flashy, one-off features—creates a sticky product.
Identifying Your Product's Bedrock
To find your bedrock, ask: What is the single most valuable activity a user performs regularly? For banking, it's checking balances and transactions. For investing, it's reviewing portfolio performance. Build that core to perfection before adding anything else. This doesn't mean ignoring other features, but it means making the bedrock so solid that users rely on it daily.
How to Build a Bedrock Product That Sticks
Start with a stripped-down MVP that nails the bedrock function. Test it with real users, gather feedback, and iterate. Resist the urge to add features until the core is unshakeable. Use internal anchor links to help users navigate key sections—for example, understanding common mistakes leads to embracing the bedrock philosophy. Create a clear hierarchy of information: education about your product should mirror the simplicity of its design.
A Practical Example
Consider a mobile banking app. Instead of launching with ten features (bill pay, budgeting, investing, etc.), start with flawless balance checking and transaction history. Ensure it's fast, secure, and intuitive. Once users love that bedrock, carefully add one feature at a time—each one solving a real need, not an internal political demand. Before you know it, you have a product users depend on daily.
The key takeaway: Stop building feature salads. Start building bedrock. Focus on what truly matters to your users, make it extraordinary, and let the rest follow.