The banking and financial sector generates a massive amount of data, with studies indicating that over 2.5 quintillion bytes of data are generated per day. Each activity and business function in the banking sector leaves a digital footprint backed by data, which opens up a wide variety of opportunities for financial institutions to refine the overall management of this information.
To address various challenges related to digitization, financial institutions require powerful software platforms that can improve user experiences, lower costs, increase business agility and accelerate speed to market. Therefore, low-code technology can enable your ISV (Independent Software Vendor) to create intelligent solutions quickly and easily, thus allowing your organization to add automation and facilitate innovation for the banking sector.
To combat the slow adoption of digital banking solutions, low-code development platforms can significantly accelerate enterprise application development without needing to invest large amounts of time, financial resources and human resources. Low-code is the most easily implementable solution that could help ISVs overcome the challenges that the banking industry is currently facing to help embrace and facilitate digital transformation more quickly.