Episode 12 of Banking Reinvented explores a key dilemma that many financial institutions are facing: choosing between buying ready-made technology solutions or building bespoke systems in-house.

Together, Tim Rutten and Backbase CEO Jouk Pleiter discuss the evolution of this decision from an "either/or" choice to a more integrated "buy-plus-build" strategy. They highlight how organizations can use pre-built platforms while still customizing components to maximize efficiency and differentiation.

Tune in to explore the economics, trade-offs, and long-term value of both approaches in order to modernize progressively and avoid technical debt.

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Timestamps:

(00:00) - Welcome to the ‘Banking Reinvented’ podcast

(02:41) - Overview of the traditional buy vs. build trade-offs

(03:40) - The limitations and inefficiencies of the traditional buy and build models

(05:55) - The advantages of buying technology solutions

(08:53) - The risks and challenges of building in-house

(10:00) - The benefits of verticalized platforms for banking

(12:00) - How progressive modernization can help banks avoid technical debt

(14:20) - The role of AI in potentially accelerating the build process

(18:30) - The importance of orchestration in differentiating customer experiences

(20:30) - Key takeaways

(24:24) - Episode wrapup