Building Lasting Financial Products: From MVP to Bedrock

Introduction

After countless years in product development—especially within the financial sector—I've witnessed a recurring pattern: promising ideas skyrocket from zero to hero within weeks, only to crash and burn months later. Financial products carry extra weight because real money is at stake, user expectations are sky-high, and the market is crowded. It's tempting to toss feature after feature at the wall, hoping something sticks. But that approach is a recipe for disaster. Let's explore why.

The Pitfalls of Feature-First Development

When you're building a financial product from scratch—or migrating paper-based or phone-based customer journeys to online banking or mobile apps—it's easy to get swept up in the thrill of adding new features. You might think, "If I just solve this one more user problem, they'll love me!" But then reality hits: your security team hates it, the feature flops with users, or unforeseen complexity breaks everything.

This is where the concept of a Minimum Viable Product (MVP) comes into play. Jason Fried, author of Getting Real and host of the Rework podcast, frequently touches on this idea—even if he doesn't always use the term. An MVP delivers just enough value to keep users engaged without overwhelming them or becoming a maintenance nightmare. Sounds simple, but it demands razor-sharp focus, ruthless prioritization, and the courage to say no—especially when someone invokes the "Columbo effect" (always one more thing to add).

Unfortunately, many finance apps become a mirror of internal company politics rather than a customer-centric experience. Teams race to deliver features that satisfy competing internal departments instead of offering a clear, user-focused value proposition. The result? A confusing, bloated "feature salad" that users struggle to love.

The Bedrock Approach

So what's the alternative? How do you build products that are stable, user-friendly, and—most importantly—stick?

Enter the concept of "bedrock". Bedrock is the core element of your product that genuinely matters to users. It's the fundamental building block that delivers lasting value and remains relevant over time.

In retail banking, where I work, the bedrock revolves around everyday servicing journeys. People rarely open a new current account, but they check it daily. They sign up for a product once, then interact with it constantly. If the routine experience—checking balances, making payments, viewing transactions—is smooth and reliable, that's the bedrock. It's not the flashy new feature; it's the unglamorous, solid foundation that users depend on.

Identifying Your Bedrock

To find your product's bedrock, ask: "What is the single most important job my product does for users, day in and day out?" Strip away everything else. If that core function fails, nothing else matters. For a budgeting app, it might be accurately tracking expenses. For an investment platform, it could be executing trades without error.

Once you identify the bedrock, obsess over it. Make it bulletproof. Every other feature should support—not distract from—this core. This approach prevents the feature salad trap and builds trust with users.

From MVP to Bedrock: A Practical Path

Start with an MVP that contains only the bedrock functionality. Launch it, gather feedback, and iterate. Resist the urge to add features until the bedrock is rock-solid. Use internal anchor links to guide users through your product's core journey first.

1. Define the bedrock. Use customer research to identify the must-have function.
2. Build the MVP around that bedrock. Ignore nice-to-haves.
3. Test relentlessly. Ensure the bedrock performs flawlessly under real-world conditions.
4. Add features slowly. Each new feature must support the bedrock or be cut.

This method counters the internal politics that often derail product development. When you have a clear bedrock, you can push back on feature requests from departments that don't serve the core user value.

Conclusion: Make It Stick

Financial products demand reliability above all else. Users trust you with their money, so your product must earn that trust every day. By focusing on the bedrock—the fundamental, irreplaceable value you provide—you build a foundation that lasts. Forget the feature salad. Embrace the bedrock. Your users (and your bottom line) will thank you.