As a product manager, you often feel a strong urge to define features. The more features you design, the more accomplished you feel, believing you’re providing more value to the customer and covering every conceivable need or preference. In reality, it is often the contrary: Increased Complexity : Additional features increase the complexity of the solution, often negatively impacting the user experience by overwhelming users. The experience can become so convoluted that it detracts from the core value the product was meant to provide. Opportunity Cost : The capacity used for these additional features could have been allocated to more valuable tasks, such perfectionizing the most impactful features. Maintenance Costs : Increased complexity results in higher maintenance costs. Early in my career, I worked for a private bank that developed a new quarterly investment portfolio report with complex analyses. Many customers didn’t request this level of detail and eventually asked for a simple
A weekly blog with articles on the future of financial services sector and more particular specifically Fintech, but also on topics, like IT and digitalization and its impact on the world (like e.g. mobility). #fintech #bankingsector #innovation #bankingtechnology