Build or buy? Making the right call for your banking app

In today’s digital-first world, many banks find themselves at a crossroads. Their mobile banking experience - once cutting-edge - now feels outdated, clunky, or limited. It’s clear an upgrade is long overdue, but one question looms: Do you build from scratch or buy off-the-shelf? While the decision can feel complex, it really comes down to these factors - your bank’s budget, resource and timeframe.

When building makes sense

If your business has the time, budget, and internal expertise to build - and if your needs are highly specific or unique to your brand - then an in-house build could be the right choice. You’ll have complete control over the design and roadmap, with the ability to tailor every detail to your audience. But in-house development isn’t a light commitment. A full-scale build can take 12 to 24 months - sometimes longer - and that’s just to get to launch. Many banks also underestimate the internal coordination, manpower, and unforeseen time-to-market delays that come with building from scratch.

When buying is the better move

On the other hand, banks that are short on internal resources or need to move quickly should consider off-the-shelf solutions. These platforms have evolved dramatically and now offer speed, flexibility, and innovation out-of-the-box. They’re built with proven security and compliance baked in and they dramatically reduce time-to-market, enabling you to launch up to 3x faster compared to a full in-house build. You also benefit from lower costs, ongoing feature updates, and expert support without needing to scale an in-house product team.

Make the right decision for you

Both of the above paths are valid; it’s about picking the option that’s right for you. Whether you opt to build or buy depends entirely on your current strategy, resources, and long-term goals. The key is to make a conscious choice based on where your bank is today and where it’s heading.

Think off-the-shelf solutions might be right for you but still have some reservations? In our latest eBook "Debunking the 3 Biggest Myths of Off-the-Shelf Mobile Banking Solutions" we break down the common misconceptions holding banks back from utilising off-the-shelf solutions.