Fintech: Forget MVP, MCP is what your would-be clients want...

MVP = Minimum Viable Product.  MCP = Minimum Credible Product

Let's look at an example.  A firm is building a multi-asset trading platform.  In their consideration an MVP is able to trade a small subset of asset-classes in a small-subset of methods.  Say that means being able to trade a single stock equity via DMA.  But no Algorithmic Trading, no PT, no care-desk. And no FX, Fixed Income, Futures/Options, CDS, IRS, TRS and so on...

Not really credible from the perspective of a would-be customer that would be engaging in a "rip-and-replace" is it?  Equally though, wouldn't a prospective customer want to be able to shape the product for their requirements?

Well, here's the problem - product to market fit is NOT a function of product to customer fit.  Product customer fit should be a subset of product market fit.  At worst, building to a specific customer will end up with a nasty refactoring when customer N comes along with a different set of requirements.

So, what is a minimum credible product?

Consider the above example. 

MVP = barely functional software, maybe with a PowerPoint and some waffle

MCP = barely functional software BUT with a proper engineering roadmap, clear commercial terms and (most importantly) clear commercial imperative to deliver the rest of the product (clawbacks, penalty fees, refunds). 

ED209 - a clear example of an MVP