In Jenga, players remove one block, then place the removed block on the top.
This creates a taller, but increasingly unstable structure as the game progresses.
Does this sound like your bank’s digital transformation?
Bank C-Suite’s top priority in 2024: cut costs and drive efficiencies.
Digital technology is the top answer to deliver savings.
45% of US banks admit they’re still in the early stages of digital transformation.
The goal: put customers first by accelerating digital transformation in banking with smarter information.
The reality: 61% of US banks struggle with digital complacency.
Build or Buy, a Multi-Million $$$ Decision
Some large banks are considering building their own appraisal management platform and integration projects.
Does your bank prioritize innovation, customer service, risk management or operational efficiency?
Your platform choice should reflect and enhance these values.
What’s the purpose behind your decision?
It might be control of specific needs, innovative competitive edge or maybe it’s pride in having your own platform.
3 Build vs Buy Caveats
- High Costs and Resource Allocation: Niche valuation processes and custom API integrations are complex and time-consuming, depleting bank IT resources. Ongoing maintenance, updates and security measures can be a budget killer.
- Time to Market: Developing a new software solution from scratch involves numerous stages, including planning, development, testing and deployment. Your bank can fall behind competitors who use off-the-shelf solutions that are immediately available and can be customized to fit their needs.
- Risk of Failure and Lack of Expertise: Custom software development carries a significant risk of failure, especially if the team lacks experience in building complex systems. The risks include technical issues, project mismanagement and failure to meet user needs effectively.
Strategy That Reflects Your Purpose
Buying an off-the-shelf platform offers immediacy and convenience but may compromise on alignment with your bank’s unique needs and long-term vision.
This is where Realwired stands out – It’s not merely a product but a partnership.
By choosing YouConnect (appraisal management platform) and Glances (multiple platform integrations in a single view), you’re adopting a collaborative approach to workflow and simplified integrations that adapts to your specific needs.
YouConnect vs Other Appraisal Platforms
- Borrower centric vs property centric searches
- All communication tracked in the system
- Banks maintain data rights
- Customization
- Reporting
- Amazing customer service
Glances vs. Legacy Integrations
- Create YouConnect appraisal orders without leaving LOS
- Pulls data from LOS eliminating double entry and reducing mistakes
- Upload docs, download appraisals and add comments
- Seamless usage – Core, LOS, Appraisal & other bank systems
- Extend the functionality of your legacy Core platforms
- Enterprise Risk Management, security, governance and compliance KPIs
The C-Suite plays a crucial role in optimizing processes, streamlining operations and improving productivity.
They identify bottlenecks, eliminate inefficiencies and implement best practices to ensure that the bank operates effectively.
Build your Jenga tower wisely.
