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:
This dimension covers the bank’s rationale behind creating a new engagement platform, as well as its digital vision and articulation with the institution’s maturity. In short, we look at how the platform is expected to deliver value.
Chapters: Competitive advantage, Digital strategy, and Maturity & time to market
Criticality to business
In this category, we assess the engagement banking platform’s creation as a business imperative, while identifying critical processes and risks associated with implementation.
Chapters: Prioritization, Risk, and Scale
Here, we analyze the level of the established bank’s ecosystem, both in terms of the sourcing of required resources and expertise/talent, as well as the bank’s ability to foster innovation.
Chapters: Innovation & Fintech ecosystem and sourcing
Delivery model & capabilities
In this dimension, we look at the bank’s internal capabilities in order to understand the organization, the skill depth, and the learning curve. We also identify the components required for the delivery model.
Chapters: Organization & capabilities, HR & skills, and Training & learning curve
This category involves the backbone of the engagement banking vision across all viewpoints, including requirements, technologies, architecture, tooling, integration, the implementation ecosystem, and more.
Chapters: Technology readiness, Requirements & updates, Implementation, and Product & roadmap
This dimension includes the ecosystem setup, as well as the implementation and outgoing costs of creating the engagement banking platform. We get an overall grip on the total effort involved in implementation.
Chapters: Setup, Implementation, and Maintenance, Support & Outlook