Accelerated build: bridging the build vs. buy gap
A framework for analyzing your platform implementation journey
When selecting the right technology sourcing approach to implement their digital vision, banks face a core dilemma: is it better to buy platform components or to build them in-house?
But don’t think of it as mutually exclusive: build vs. buy.
Instead, consider what we call accelerated build, an approach that gives banks the best of both worlds: a quick time to market and a high degree of customizability.
In this whitepaper, we introduce a six-dimensional framework to help you assess your objectives and capabilities in order to guide your decision-making and help you make the right technology choices:
A collaborative approach toward sustainable digital banking
architecture.
In this APAC-focused IDC Infobrief commissioned by Backbase, it presents a disruptive finding that despite spending $100 billion annually on technology, it is not enough for banks in APAC to ensure competitiveness or customer centricity.
70% of the digital transformation projects have failed and out of the 30% which succeeded, 52% are underperforming and 20-25% are not generating ROI. Digital transformation hasn’t taken off for banks in APAC as they had envisioned. From IDC’s data, in-house build strategy has been the de facto, yet banking CIOs of today are questioning - why is build the prevailing option?
The IDC Infobrief serves as a consultative guide, supporting APAC banks in resolving their dilemma while selecting a robust platform strategy. The Infobrief is structured to empower banking leaders to conduct due diligence and formulate an engagement banking platform strategy that revolves around customer-centric transformation and differentiated customer engagement.
This IDC Infobrief report #AP241480IB June 2023 is commissioned by Backbase.