Even in 2022, the biggest competitor we face when selling an application development platform is the lingering tendency for clients to build everything in-house. Despite the clear story that history tells, there is still not enough consideration given to the execution risk of building everything in-house.
The onus is on the new wave of fintech innovators to demonstrate they have used their decades of experience building capital markets systems to come up with a solution that gives acceleration but without the loss of control that everyone fears.
I’ve lost count of the number of large projects I have been involved in over my career, but I know exactly how many were resounding successes. In a recent client engagement, we enumerated the less obvious risks of large tech projects, here are the headlines:
So what? Always strive to buy what you can and build what you cannot. The number of viable products and vendors has increased dramatically over the last 5 years. Don’t miss out and be left competing with other firms that deliver more features faster with vastly smaller teams.