Digital Transformation in Banking: SaaS VS Bespoke approach

The perennial Build (i.e. Bespoke) versus Buy (i.e. Software as a Service) question continues to haunt traditional financial institutions in search of the best software solution when they begin a Digital Transformation program. Custom software is developed according to requirements and specifications made by the stakeholders involved. Software as a Service, on the other hand, is ready to use once it is adopted and set up. Since each option has its own pros and cons, we would like to explain them in relation to the banking industry, by using Salesforce.com as the SaaS element and comparative touchstone. We will cover the most relevant areas in banking CX, discussing the key elements that may lead to the choice of one solution rather than the other.