Should I Buy or Build Open Banking ?
summary
Implemented open banking for the UK’s largest payment acceptance institution (handles £650bn/year) reduces 2 million annual payment errors to zero errors after ~15 months, delivers £5.5 billion throughput to date and brings ~5 million new digital users; building takes a 9–12 month POC then 12–18 month full build, burns staff and compliance risk, while buying via third-party providers shortens time to market and outsources standards, integration and security but limits how much of the UX and volume control is retained.
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chapters (9)
- 0:00Introduction
- 2:00Kevin Guest Introduction
- 4:30What is Open Banking
- 6:37Should I Build or Buy
- 10:33Return on Investment
- 14:10Brexit
- 17:42Benefits
- 20:55Winning Strategies
- 22:13Tax Compliance
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