In a thoughtful piece for PaymentsNEXT, Kate Knudsen, Senior Program Director at BHMI, breaks down the pros and cons of the three common modernization paths for the payments back office: Build, Buy, and Outsource. While many institutions lean toward building in-house or outsourcing, Kate makes a compelling case for giving the often-overlooked Buy option another look.
Modern commercial platforms today are not the rigid, one-size-fits-all solutions of the past. They’re modular, API-driven, rules-based, and designed for incremental adoption—a lower-risk path to agility, compliance, and long-term growth.
- Faster time to value than building
- More control and transparency than outsourcing
- Scalable, secure, and omnichannel
As Kate puts it: “Companies don’t need to rip and replace their entire payments back-office infrastructure.” A phased approach lets teams prove ROI, minimize disruption, and build momentum.
The article also features great insights from industry experts like Peter Tapling (PTAP Advisory) and Anthony Serio (Serio Payments Consulting), who offer valuable perspectives on risk, scalability, and the realities of build vs. buy.
About the Author:
Kate Knudsen is Senior Program Director at BHMI, which is the creator of the Concourse Financial Software Suite. She has been in the payments industry for more than 30 years and is currently leading payment back office modernization projects for large financial services companies.
