{"id":133845,"date":"2024-07-30T02:17:42","date_gmt":"2024-07-30T02:17:42","guid":{"rendered":"https:\/\/feedzai.com\/?p=133845"},"modified":"2024-07-31T13:52:08","modified_gmt":"2024-07-31T13:52:08","slug":"buy2build-the-best-of-both-worlds","status":"publish","type":"post","link":"https:\/\/feedzai.com\/blog\/buy2build-the-best-of-both-worlds\/","title":{"rendered":"Buy2Build: The Best of Both Worlds"},"content":{"rendered":"
[vc_row row_height_percent=”0″ override_padding=”yes” h_padding=”2″ top_padding=”1″ bottom_padding=”2″ overlay_alpha=”50″ gutter_size=”3″ column_width_percent=”100″ shift_y=”0″ z_index=”0″][vc_column width=”1\/1″][vc_row_inner][vc_column_inner width=”1\/12″][\/vc_column_inner][vc_column_inner width=”10\/12″][vc_single_image media=”133859″ dynamic=”yes” media_width_percent=”100″ uncode_shortcode_id=”134869″][\/vc_column_inner][vc_column_inner width=”1\/12″][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_visibility=”yes” mobile_width=”0″ width=”2\/12″][\/vc_column_inner][vc_column_inner width=”8\/12″][vc_custom_heading heading_semantic=”h3″ text_size=”h3″ text_weight=”400″ uncode_shortcode_id=”167977″]It\u2019s never easy to settle a debate. Buying vs. leasing. Renting vs. owning. Is <\/span>the dress<\/span><\/a> blue and black or white and gold? In the world of machine learning, the long-running question is often Buy or Build your own platform. Fortunately, financial institutions can now skip the endless buy versus build strategy debate and pursue the Buy2Build option for <\/span>fraud prevention<\/span><\/a> instead.<\/span>[\/vc_custom_heading][vc_column_text uncode_shortcode_id=”441430″]<\/p>\n The advantages and disadvantages of building your own machine learning platform or buying one from a vendor are well-documented. But what if instead of wavering back and forth over the pros and cons of each option, there was a way to harness the best of both worlds?\u00a0<\/span><\/p>\n That\u2019s where Buy2Build comes into play. Buy2Build is a strategic hybrid approach to data science that blends the efficiency of purchasing a pre-built and configured machine learning platform while still gaining the flexibility of customizing it to meet your financial institution\u2019s unique priorities and growth strategy.\u00a0<\/span>[\/vc_column_text][vc_single_image media=”133873″ media_width_percent=”100″ uncode_shortcode_id=”173708″ media_link=”url:https%3A%2F%2Fhubs.la%2FQ02JkShR0|target:_blank”][vc_column_text uncode_shortcode_id=”207913″]This approach allows financial institutions to purchase an off-the-shelf solution and tailor it to their organization\u2019s specific needs. Organizations can enjoy their independence and control without worrying about having the proper infrastructure, technical resources, team members with the required expertise (from software developers to coders and more), or the ability to quickly add new controls.<\/span><\/p>\n Let\u2019s first examine (hopefully for the last time) the familiar argument about buying versus building your own platform.<\/span><\/p>\n There are several benefits of buying your own platform. For example, you can purchase vendor software and quickly deploy it. Regular updates and maintenance often come with and are handled by the vendor. However, buying a solution might limit customization options. In other words, you wind up with less control over the platform\u2019s future development.<\/span><\/p>\n Some organizations may have legitimate reasons for wanting to build or buy their machine learning platform in-house. However, these approaches come with serious risks instead of following the familiar path of analysis paralysis. Instead, consider working with a risk analytics partner. A strong partner can teach you how to build, manage, and maintain your own data science platform.<\/span><\/p>\n Meanwhile, building a machine learning platform ensures complete independence and control over the solution. You can tailor this custom solution to your organization\u2019s unique needs, enabling seamless integration with existing systems.\u00a0<\/span><\/p>\n However, this strategy involves developing a platform from scratch. This process is time-consuming, expensive, and requires specialized expertise. Additionally, ongoing maintenance and updates become your responsibility. You\u2019ll also have to ensure that the platform can respond to new fraud threats, not just the ones considered when the platform was built.<\/span>[\/vc_column_text][vc_single_image media=”133868″ media_width_percent=”100″ uncode_shortcode_id=”106942″ el_class=”hide-in-desktop-tablet”][vc_single_image media=”133864″ media_width_percent=”100″ uncode_shortcode_id=”181621″ el_class=”hide-in-mobile”][vc_column_text uncode_shortcode_id=”515390″]<\/p>\n By offering a hybrid model that blends a pre-built AI platform with customizable elements, Feedzai empowers financial institutions to accelerate their fraud prevention initiatives without sacrificing control.<\/span><\/p>\n Here\u2019s how we deliver a Buy2Build strategy:<\/span><\/p>\n Feedzai’s platform is designed for rapid deployment, often measured in weeks rather than months. This significantly reduces time-to-market compared to building a solution from scratch.<\/span><\/p>\n Feedzai prioritizes cloud infrastructure for scalability and efficiency. This approach provides a balance between on-premises control and cloud-based agility.<\/span><\/p>\n Feedzai ensures robust data privacy by maintaining strict data segregation and protecting sensitive customer information.<\/span><\/p>\n Buy2Build platforms are built with configuration and maintenance in mind, allowing clients to tailor the solution to their specific needs and even manage certain aspects independently.<\/span><\/p>\n As an AI-centric company, Feedzai embeds advanced machine learning capabilities into its platform, enabling clients to benefit from cutting-edge fraud detection techniques without the complexities of AI development.<\/span><\/p>\n Feedzai takes the lead on ensuring model fairness and ethical AI practices, freeing clients from the burden of implementing these critical components themselves.<\/span><\/p>\n By analyzing aggregated data trends and insights, Feedzai provides valuable information to clients, helping them stay ahead of evolving fraud tactics.<\/span><\/p>\n Feedzai’s partnership-oriented approach and focus on client autonomy prevent vendor lock-in, allowing for flexibility and future adaptability.<\/span><\/p>\n Feedzai\u2019s Buy2Build approach empowers financial institutions to optimize their fraud prevention strategies, gain a competitive advantage, and effectively protect their customers. By taking the Buy2Build approach, banks can achieve:\u00a0<\/span><\/p>\n Feedzai is uniquely positioned to help you execute a successful Buy2Build strategy for fraud and financial crime prevention. Our platform is designed with the customer in mind, prioritizing ease of use and customization. The intuitive Data Science Studio, powered by OpenML, streamlines data analysis and model development, allowing your team to focus on high-value activities.<\/span><\/p>\n By partnering with Feedzai, you gain access to a dedicated team of fraud prevention experts. We understand the intricacies of the financial industry and can provide tailored support when needed. This frees up your internal resources to tackle other critical business initiatives.<\/span><\/p>\n We may never be able to agree on the pros of buying versus leasing or whether the dress was blue and black or white and gold (black and blue, of course)! But it\u2019s high time to retire the buy or build debate. With Buy2Build, there\u2019s no longer any need for banks to compromise on control or flexibility. The Buy2Build approach is designed to deliver the best of both worlds: a robust, pre-built platform combined with the ability to adapt and innovate as your needs evolve.<\/span>[\/vc_column_text][\/vc_column_inner][vc_column_inner column_width_percent=”100″ gutter_size=”3″ overlay_alpha=”50″ shift_x=”0″ shift_y=”0″ shift_y_down=”0″ z_index=”0″ medium_width=”0″ mobile_visibility=”yes” mobile_width=”0″ width=”2\/12″][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":" It\u2019s never easy to settle a debate. Buying vs. leasing. Renting vs. owning. Is the dress blue and black or white and gold? In the world of machine learning, the long-running question is often Buy or Build your own platform. Fortunately, financial institutions can now skip the endless buy versus build strategy debate and pursue the Buy2Build option for fraud prevention instead.<\/p>\n","protected":false},"author":88,"featured_media":133847,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[76],"tags":[151,77],"acf":[],"yoast_head":"\nWhat is the Buy2Build Strategy?\u00a0<\/span><\/h3>\n
Buy vs. Build: The Final Debate?<\/span><\/h3>\n
Buying: A Quick Win with Strings Attached<\/span><\/h4>\n
Build: Total Control, High Risks<\/span><\/h4>\n
Feedzai: A Buy2Build Champion<\/span><\/h3>\n
Accelerated Implementation<\/span><\/h4>\n
Flexible Deployment<\/span><\/h4>\n
Data Segregation\u00a0<\/span><\/h4>\n
Customizable Configuration\u00a0<\/span><\/h4>\n
AI-First Focus<\/span><\/h4>\n
Built-In Responsible AI\u00a0<\/span><\/h4>\n
Shared Insight<\/span><\/h4>\n
Avoid Vendor Lock-In<\/span><\/h4>\n
Critical Advantages of Feedzai\u2019s Buy2Build Approach<\/span><\/h3>\n
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Why Choose Feedzai as Your Buy2Build Partner?<\/span><\/h3>\n