Should Revolut prioritize adding new features or improving existing core functionalities?

Introduction

The trade-off between adding new features and improving existing core functionalities is a critical decision for Revolut's product strategy. This scenario involves balancing innovation with stability, user acquisition with retention, and short-term gains with long-term sustainability. I'll analyze this trade-off by examining the product context, potential impacts, key metrics, and experimental approaches to guide our decision-making process.

Step 1

Clarifying Questions (3 minutes)

• Based on Revolut's recent growth, I'm thinking user acquisition might be a key priority. Could you share our current user growth rate and retention metrics?

Why it matters: Helps determine if we should focus on attracting new users or retaining existing ones. Expected answer: Moderate growth but declining retention. Impact on approach: Would lean towards improving core functionalities to boost retention.

• Considering our product roadmap, I'm assuming we have a backlog of potential new features. Can you give me an idea of the top 2-3 features under consideration and their estimated impact?

Why it matters: Allows us to weigh the potential value of new features against core improvements. Expected answer: A mix of high-impact and nice-to-have features. Impact on approach: Would help prioritize which new features, if any, to consider.

• Looking at our technical infrastructure, I'm curious about our current system stability and scalability. What's our current uptime percentage and how close are we to our capacity limits?

Why it matters: Indicates whether we need to focus on technical debt or can support new features. Expected answer: 99.9% uptime, nearing 80% capacity. Impact on approach: Might necessitate prioritizing core functionality improvements.

• Regarding our team structure, I'm wondering about our current resource allocation. What percentage of our engineering and product teams are dedicated to new features vs. maintaining existing ones?

Why it matters: Helps understand our current focus and capacity for change. Expected answer: 60% new features, 40% maintenance. Impact on approach: Could suggest rebalancing resources based on our decision.

• Considering market dynamics, I'm curious about our competitors' recent moves. Have any major fintech players introduced game-changing features in the past quarter?

Why it matters: Informs whether we need to innovate quickly or focus on our core strengths. Expected answer: Some innovation, but no major disruptions. Impact on approach: Might influence the urgency of adding new features.