De-mystifying Build v Buy: Pick a solution that cuts the right corners

How did such a critical task become a no-brainer?

What is the ‘Build vs Buy’ conundrum?

  • Adding supplemental or value added services to a core product
  • Making trade-offs in resource allocation
  • Ramping up on non-core competencies

For most fintechs, risk and compliance is one such debatable area, and here’s why:

  • Significant day-zero legal expenditure to be compliant
  • Heavy fines, reputational and regulatory consequences
  • Investment of resources into non-mission critical tasks

Making the case for Fraud/AML (frAML) investment

The true cost of your bets

  1. Storage and infrastructure for in house risk software: Varies, depending on your size and scale.
  1. Full control over risk thresholds: Build your own compliance program according to your unique business cases
A sample True Cost Of Ownership calculation

In other words, a huge investment of time, money and resources.

Optimize your core product, and leave the messy FrAML concerns to the experts

Unit21: No code, efficient risk and compliance

--

--

--

Passionate about building products that matter

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

#TheGapTable

My Encounter With A Startup Villain: How Our CTO (Almost) Sunk Our Startup

Trust starts with communicating, and stops when the communicating stops

What’s a SAFE, what’s a convertible note, and are they really better than just selling shares to…

Becoming an Angel: 35 Investors Share their Tips on Angel Investing

Hacking your way into Successful Startup-Corporate Collaborations

Upclose With The Founder Of IGEA ENTERPRISE, Sarah Boateng On How They Got Funded.

The founder hustle

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Dhiraj Bhat

Dhiraj Bhat

Passionate about building products that matter

More from Medium

Production of Acrylonitrile by Propylene Ammonoxidation

HappyBots — Connect 3Commas to the HappyBots Platform

Beginner’s Guide Part 8: Trading/investing plan

RCA — P1 prod issue related to Kryo