KYC is defined as a ‘Know Your Customer’ or ‘Know Your Client’ process that involves verifying a user’s identity as well as the suitability and potential risks involved with maintaining a business relationship. KYC procedures are especially crucial for financial institutions to understand the nature of a customer’s activity, verify their identity, confirm the legitimacy […]
Low-code is defined as a visual approach to software and application development that enables citizen developers with little to no traditional coding experience to build powerful solutions using drag-and-drop features, graphical user interfaces and visual modeling. As digital technology continues to advance, low-code technology is becoming increasingly essential for all modern, data-driven organizations across various […]
Open-source software is defined as a solution that enables end-users to freely access, modify and redistribute modified source code. Open-source software can be extremely useful for helping businesses develop high-quality software in a much more cost-effective manner than ever before. A recent study has shown that approximately 82% of businesses currently utilize open-source platforms to […]
Agile development is a systematic and strategic approach to application or software development. Agile development is primarily focused on consistent feedback and improvement through each stage of the development process. The agile development cycle typically consists of 5 distinct stages; ideation, development, testing, deployment and operations and maintenance. Recent advancements in low-code technology now mean […]
With the increased commoditization of data, modern businesses must now prioritize data integration and management more than ever before. Every data-driven organization contains numerous data systems working in cohesion to ensure that organizational data is credible, accurate and relevant. However, as data architecture and data infrastructure become increasingly complex, it can be extremely difficult for […]
Vendor lock-in is defined as a scenario in which an organization is forced to continue using a certain product or service and is unable to switch vendors due to expected costs, complexity or the expected duration of migration. Businesses are ‘locked in’ to a specific unsuitable product or service due to expected financial constraints, difficulties […]
With rapid changes in our current business landscape and digital technology, modern organizations are now implementing and integrating more and more software into their day-to-day business processes at an exponentially increasing rate. Furthermore, as market trends and consumer expectations continue to evolve exponentially, your business needs to be able to develop powerful enterprise applications much […]
Hyper-customization is defined as the utilization of real-time organizational data analytics, machine learning, artificial intelligence technologies and other emerging technologies to customize enterprise applications and software as much as possible and improve user experiences. Hyper-customization can also refer to any business process that adapts system behavior based on user data and historical organizational information. As […]
With recent technological advancements and changes in our current business landscape, enterprise applications are now an indispensable asset to any modern organization. Therefore, most companies are now searching for the best possible way to create and manage enterprise applications. However, many businesses may be unclear about whether or not they should purchase their applications from […]
An API (Application Programming Interface) is defined as a software intermediary that can facilitate the integration of numerous organizational data sources to expedite and improve connectivity, communication and collaboration. An API acts as a messenger that sends a user’s request to a provider and then returns a relevant response from cloud-based data storage. With exponential […]
