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A coffee chat with an old bank guy made me question our whole approach
Ran into a retired RBC branch manager at a Tim Hortons in Mississauga last week. He said fintechs are great at building products but terrible at earning trust, and it got me thinking about how we measure success. We chased 5,000 signups in our beta, but how many of those people actually stuck around after the first month? Has anyone else had a conversation that made them rethink their growth numbers?
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parker9381mo ago
Man, I hear you but I gotta disagree. Trust means nothing if the product sucks. I ditched my big bank for a fintech last year because their app actually worked and their support picked up in minutes. The old guy is probably salty about losing customers to apps that don't charge hidden fees. Retention matters, sure, but 5,000 signups in a beta is a decent start. Gotta walk before you can run.
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