Building Financial Products That Endure: Why Bedrock Beats Features

The Pitfalls of a Feature-First Approach

In the fast-paced world of financial product development, it's all too common to see exciting ideas rocket to success only to crash and burn within months. The temptation is to pile on new features, hoping something will catch on with users. But this scattershot approach often backfires, especially when real money and high expectations are at stake. Instead of creating value, you end up with a bloated experience that confuses customers and frustrates your team.

One major reason for this failure is that products become a battleground for internal politics rather than a focused solution for users. Different departments each demand their own pet features, turning your app into a "feature salad"—a confusing mix of unrelated functionalities that no one truly loves. The result? An unstable, hard-to-maintain product that fails to build loyalty.

Embracing the Minimum Viable Product Philosophy

The solution lies in the Minimum Viable Product (MVP) approach. As Jason Fried discusses in his book Getting Real and on the Rework podcast, an MVP delivers just enough value to keep users engaged without overwhelming them or overcomplicating development. It sounds simple, but it requires razor-sharp focus and the courage to resist what Fried calls the "Columbo Effect"—that nagging voice that says, "Just one more thing..." every time someone suggests an addition.

In financial services, security teams (often called "the narcs" internally) can throw up roadblocks, and even well-intentioned features may flop due to unforeseen complexity. By starting small and validating core value first, you avoid wasted effort and create a product that actually sticks.

The Bedrock Concept: Finding What Truly Matters

So what should you focus on instead? Enter the concept of "bedrock"—the fundamental element of your product that provides lasting value. Bedrock is the one thing users genuinely need, day in and day out. For example, in retail banking, the bedrock isn't the flashy sign-up flow or the fancy new investment tool—it's the regular servicing journeys. People open a current account once in a blue moon, but they check their balance, pay bills, and review transactions every single day. That daily reliability is what builds trust and keeps them coming back.

Identifying your product's bedrock means stripping away everything else until you're left with the core experience that truly matters. Then, build your product around that foundation. Add features only if they support the bedrock—not because someone in marketing wants a shiny new button. This approach reduces complexity, improves stability, and creates a user experience that feels intuitive and essential.

How to Find Your Bedrock

Start by asking your users: What do they absolutely need to accomplish every time they use your product? What would happen if it disappeared? The answer is your bedrock. For financial apps, it's often something mundane but critical, like seeing balances or making payments. Once you have that, protect it. Make it rock solid before adding any enhancements.

Remember: a product that sticks isn't the one with the most features—it's the one that delivers on its core promise reliably and simply. By shifting from a feature-first mentality to a bedrock-first strategy, you can build products that users love, trust, and use for years to come.

Want to dive deeper? Read about embracing MVP philosophy or explore the bedrock concept in detail.