TECHNOLOGY
cross-functional capabilities , has led to an acceleration of innovation and time-tomarket ,” he asserts .
Rosner believes that delivering solutions that meet requirements , even as minimum viable products ( MVPs ), building on them and iterating fast , often in line with customer feedback , is increasingly an expectation rather than a USP .
He points out , “ Agile firms are also able to release beta products or features to test with key customers , allowing potential issues to be identified before they are released to the customer environment . Responding to change at pace and delivering incremental improvements is essential today , and is not possible under traditional software development methodologies , such as waterfall .”
Some experts believe that without lean and agile technology , fintech would not even exist .
Scott Jones , MD of the WordPress fintech specialist developers ,
Illustrate Digital , says , “ Modern fintech exists as a result of Agile , Lean and DevOps principles . The ability to innovate and iterate in any financial services business is what has made
“ I would suggest that most organisations see the primary suppliers as key infrastructure rather than the innovation themselves ”
ANDREW BARNETT GLOBAL HEAD OF PRODUCT STRATEGY , RIMES
Outsourcing vs inhouse
Barnett , Global Head of Product Strategy , RIMES , advises on collaborations
1 . Understand the task : Firms will only benefit from outsourcing after a couple of activities . Nothing should be outsourced that you don ’ t understand to ensure that oversight is suitable ( for the company and the regulator ).
2 . Set a strategy : A corporate strategy should be in place which outlines where the boundaries of the business lie . The operations and technology are foundational but not core to the business . This is where business boundaries could be redrawn and where a commitment to outsourcing can be made to make space for a fintech partner .
3 . Partnership : Outsourcing has to be treated as a strategic partnership and that partner as an extension of the business . It should not be viewed as ‘ throwing a task over the fence .’