How to shape Fintech Products inside a European €5.9B+ eCommerce Platform

​Dear Reader,​

Better product management practices can emerge anywhere. While Silicon Valley companies have long been considered the Standard for product practices, there is immense value in understanding how companies adapt and evolve these practices in different contexts, especially in Europe.

This is why I'm starting a mini-series that explores how European companies "do product," highlighting practices that will be familiar, yet inspirational to many teams. These aren't necessarily revolutionary approaches, but rather thoughtful adaptations that showcase how product management evolves in different environments.

In this first piece, we'll look at how bol.com, the Netherlands' largest online retail platform, shapes its Fintech products. Through my conversation with Damien Folkerts, Head of Product Fintech, we'll explore how they navigate the complexity of serving multiple customer groups while maintaining high product ambitions.

Building financial products within a major e-commerce platform presents unique challenges. The complexity comes from serving three core customer segments: For consumers, the team develops seamless payment experiences and buy-now-pay-later options. Business partners require reliable financial infrastructure – from invoicing systems to VAT handling and customizable payout schedules. At the same time, internal teams depend on financial steering information for strategic decision-making.

While you cannot solve prioritization challenges through arbitrary scoring, Damien’s team tries to bring each decision back to value. As fluffy as the term sounds, it’s a helpful anchor. Because value might not always mean value for end customers. Sometimes, the most significant value comes from serving a strategic pillar of the company or enabling another team in the background.

Or when value is all about meeting regulatory requirements. Instead of treating compliance as a constraint, the team proactively identifies opportunities to turn these requirements into value-adding features from a customer perspective. "We look at the regulation and think about what problem it's trying to solve for the customer," Folkerts explains. This mindset helps them maintain customer focus even within strict regulatory frameworks.

This balancing act becomes even more important because Damien and his team operate at the intersection of e-commerce and banking. Unlike pure fintech companies focusing solely on financial services or traditional e-commerce platforms that outsource financial complexity, bol.com's team must navigate both worlds. "We need to ensure our financial products not only comply with financial and fiscal regulations but also enhance rather than hinder our marketplace dynamics," Folkerts explains. This dual responsibility shapes how they approach product development, forcing them to think beyond traditional fintech or e-commerce paradigms.

From my perspective, Bol.com's approach to fintech products is noteworthy because it has expanded its definition of a product. From consumer-facing payment solutions to partner financial tools and internal steering capabilities, each is treated as a product with its strategic attributes: Who are we serving? How can we serve them as best as possible? Who are we competing against? How are we supporting the company strategy?

This mindset shift has allowed them to apply product thinking more broadly, leading to better outcomes across their financial ecosystem.

Next week, we'll explore how bol.com's fintech team approaches discovery, including a story about attempting to interview non-paying partners and partners that misuse the platform, and what this taught them about knowing when to kill ideas.

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Thank you for Practicing Product,

​Tim​

PS: The most meditative part of my mid-morning coffee routine

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Who is Tim Herbig?

As a Product Management Coach, I guide Product Teams to measure the real progress of their evidence-informed decisions.

I focus on better practices to connect the dots of Product Strategy, Product OKRs, and Product Discovery.