Beacon Platform, offering a set of quant tech infrastructure and applications powered by next-generation data science technologies, is the financial industry’s answer to this trade off. Compared to in-house development of an analytics solution, Beacon’s powerful mix of functionality and customization can reduce direct lifecycle costs by 2.5x over five years.

Financial institutions have often opted to build their own applications and tools, considering the advantages of proprietary algorithms and customization to be worth far more than increased costs or extended development times. However, the increasing maturity of cloud computing, web development frameworks, and shared source code are moving the needle significantly towards buying.

Quant Tech platforms with robust data science foundations have emerged as a viable alternative to in-house FinTech development. Companies can now buy and deploy far more functionality, faster and at a lower cost, focusing their resources on areas of true competitive advantage. Making these decisions means comparing and evaluating objectives, available technologies, and expected results.

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