In our Retooling Financial Services for 2021 and Beyond series, we discussed how leveraging a modern decision engine like Enova Decisions Cloud™ can help you orchestrate and optimize your fraud, credit, and collections decisions. However, outsourcing or partnering with a decision management services company may not make the most sense for your business. So here are some considerations as you decide whether or not to build or buy the right decision management capabilities for your business:
- Considerations for Initial Implementation:
- Institutional expertise in fraud, credit, and collections decisioning
- Infrastructure necessary for 3rd-party data API integrations
- Infrastructure necessary for real-time decisioning with high-uptime and adequate security protections
- Time to market when considering prioritizing, planning, and getting buy-in from key internal stakeholders
- Time to market when considering internal development resources and competing projects
- Considerations for Ongoing Operations:
- Infrastructure Maintenance
- Managing 3rd-party APIs and internal outages
- Integrating new data sources and updating integrations for changes in existing APIs
- Scalability and adaptability to handle high-traffic while adhering to performance benchmarks
- Capacity for continuous improvement through exploring new data and better modeling techniques
Want to learn how you can leverage Enova Decisions’ data, analytics, and technology expertise and capabilities?
Contact us today to schedule a discovery call.