What Went Wrong...
Examining the missteps of various software products across industries reveals common pitfalls that can derail even the most promising innovations. From inadequate market research and poor user experience design to insufficient testing and failure to adapt to technological advancements, these challenges underscore the importance of thorough planning and execution. The following section outlines specific cases, offering insights into how these factors contributed to their downfall and the lessons that can be gleaned to inform future endeavors.
Available Lessons:
200
Wells Fargo Mobile Banking App
FinTech
Wells Fargo
A technical glitch led to duplicate transactions and account mismanagement, causing customer trust erosion.
WHAT WENT WRONG
Software bug in payment processing code
Insufficient QA and testing before deployment
SIGNALS MISSED
Early warnings from internal test environments
Customer support tickets escalating rapidly
HOW COULD THEY HAVE AVOIDED THIS
Implementing rigorous QA processes before software release
Conducting real-world simulations before updates
TEAMS INVOLVED
Product, Engineering, Customer Success, QA
Revolut Premium Features (Initial Launch)
FinTech
Revolut
Early paid features like airport lounge access faced customer backlash due to limited availability and unclear benefits.
WHAT WENT WRONG
Overpromised feature availability
Lack of product testing with target users
SIGNALS MISSED
Customer complaints about failed redemptions
Low conversion rates to premium plans
HOW COULD THEY HAVE AVOIDED THIS
Testing benefits before advertising availability
Ensuring realistic execution of premium offerings
TEAMS INVOLVED
Product, Sales, Customer Success, Marketing
Google Wallet App
FinTech
Google’s mobile wallet struggled with technical adoption across merchants and devices, leading to user frustration.
WHAT WENT WRONG
Lack of software compatibility across devices
Technical bugs in merchant integration
SIGNALS MISSED
Reports of failed transactions and sync errors
Slow API adoption from retailers
HOW COULD THEY HAVE AVOIDED THIS
Pre-launch testing with merchants and device makers
Focus on seamless, cross-platform compatibility
TEAMS INVOLVED
Product, Marketing, Sales, Design, Engineering
Robinhood Trading App – Outage Incident
FinTech
Robinhood
The app crashed during heavy trading volume, preventing users from accessing their portfolios during critical market movements.
WHAT WENT WRONG
Backend system unable to scale under stress
Inadequate redundancy in server infrastructure
SIGNALS MISSED
Early incidents of latency under lower traffic volumes
User reports about app freezes ignored
HOW COULD THEY HAVE AVOIDED THIS
Investing in scalable cloud infrastructure
Running load tests under extreme market scenarios
TEAMS INVOLVED
Product, Engineering, Operations, Customer Success
Libra Blockchain Platform
FinTech
The blockchain-based cryptocurrency system collapsed due to technical shortcomings, failed software integration, and regulatory pressure.
WHAT WENT WRONG
Complex blockchain infrastructure lacking scalability
Weak support for secure wallet integrations
SIGNALS MISSED
Early regulatory resistance from global bodies
Developer concerns about wallet APIs
HOW COULD THEY HAVE AVOIDED THIS
Rolling out smaller, country-specific pilots
Simplifying blockchain infrastructure for real use cases
TEAMS INVOLVED
CEO, Product, Legal, Compliance, Marketing
PayPal Credit Platform (Software Integration)
FinTech
PayPal
Integration of the credit feature into PayPal’s software resulted in usability issues, missed payment risk monitoring, and poor borrower management.
WHAT WENT WRONG
Poor backend systems for credit risk assessment
Limited monitoring for default rates
SIGNALS MISSED
High customer complaints regarding payment confusion
Escalating default rates flagged in analytics
HOW COULD THEY HAVE AVOIDED THIS
Building better algorithms for creditworthiness
Improving user experience for loan transparency
TEAMS INVOLVED
Product, Risk Management, CEO, Engineering, Customer Success