Why FinTech’s Should Consider Getting Distributed


Business / Wednesday, October 2nd, 2019

Recent success of the Distributed model which has delivered powerful and scalable engineering projects for companies such as MasterCard, Sytner, Channel Mum and Convergent Labs, confirms the potential of the outsourced engineering and development function.  Distributed provide a company with a flexible and scalable team of software engineers, analysts and project managers who can be utilised and remunerated on-tap to deliver software and data projects.

What is the Advantage of the Distributed Model?

For a FinTech firm the challenge can be rate of development work required following launch of new products, acquisition of new clients or changes in industry regulations.  A project can scale up overnight with deadlines being pushed out by month, which can upset clients paying for up-to-date software that delivers day in and day out.

The traditional hiring model while having its advantages, is a slow and archaic one, often taking months to hire and initiate new employees.  Meanwhile the freelance / contractor market has its hurdles, again taking time with heavy interviewing, background checking elements, and remuneration model and payment procedures hindering the perceived advantages.

Meanwhile outsourcing all engineering functionality to a consultancy often massively increases costs and results in loss of control.  In contrast an outsourced flexible and scalable model as delivered by Distributed removes the hurdles to commencing and delivering an engineering project in a cost-effective manner.

The Distributed platform allows the Project Management team to see a fixed cost and timescale for a project, and fluidly alter the deliverables when required, communicating the changes to the necessary engineers on the project.  Additional engineers can be added at any time to speed up the project or add in additional functionality or scale.

For a FinTech firm the Distributed model offers great flexibility and scalability in a cost-effective manner.

Should You Have Concerns about an Online Project Management Platform?

Keeping all engineering work inhouse, with all employees on the premises using corporate-provided computers, certainly has its advantages in terms of reassurance about security and confidentiality.  However Distributed have invested heavily in enterprise grade security to mitigate breaches.  The contracts in place with engineers also includes Non-Disclosure Agreements to maintain confidentiality of project deliverables.

Is It Hard to Monitor Quality with the Distributed Platform?

The Distributed platform is designed with Quality Assurance in mind, with two stage processes built into the system, the quality of the delivered project is fundamental to the ongoing success of the platform and client relationship.

These are several reasons why the Distributed platform should be considered by FinTech firms as the answer to their engineering requirements.  No longer should fast-growing and dynamic companies have to rely on commitment to hiring employees, hiring freelancers on a contract basis, or utilise a consultancy to deliver their engineering projects.  The Distributed model provides an advantageous model which is scalable, flexible and on-demand, delivered for a technology platform than offers quality assurance, enterprise grade security and full visibility.  Why not consider using the Distributed platform for your next engineering project?

 

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