Four things you should ask before building a mobile banking app
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- Is building a proprietary banking app from scratch the best use of my time, money and resources? Or could these resources be better spent elsewhere?
- What is our go-to-market timeline and does it allow for the unknowns? What effect could delays to the launch date have on our business and what contingencies do we have?
- Do we have the resources to maintain the app and to ensure timely development to meet legislative, market and customer requirements?
- What do my options look like? Have we considered all alternatives and critically assessed them against our business requirements, timelines, resources and cost?
The answers to these questions will give an FI a very clear indication of how well placed they are to develop and maintain their mobile bank in-house. There is no right or wrong answer - just the best fit for your budget, time, ethos and team.