The opportunities for building new products and services are endless. Just look at products like Snoop, who use Open Banking to defend consumers from price hikes and bad deals, or Untied who have artfully taken the pain out of personal tax. Then there are investment solutions like Moneybox who introduce the uninitiated to investment with a novel hook, minimal friction and effortless simplicity, or challenger banks like Monzo, who have set new standards in convenience, and personal finance management.
There are plenty more out there, and vast uncharted waters to explore.
These products all have something in common. They are built for the people. They have zeroed in on a pain-point and found the commercial opportunity within.
They use consumers in the creation of their propositions and features, and they all employ the 30/70 rule (or something like that). Success = 30% great idea, 70% iteration.
After all, a well-planned iteration is the essential counterpart to MVP thinking. It’s the permission to start small and it’s the hedge against over investing, which has burnt many a product team.
These are the principles Hi Mum! Said Dad holds close.
Hi Mum! Said Dad creates new products and services for FinTech Start-Ups and heavyweight incumbents. Our UK studio does everything from proposition definition to experience design and bank-grade engineering - all under one roof. We move fast, we drive results and we put the target audience on centre stage.