Like most financial organizations, the technology solutions you depend on are more powerful and complex than ever. But, like any good story, the next chapter of your digital transformation has a twist: Low-code technology.
Low-code, rapid application development solutions are simplifying processes in the financial industry from customer and member experiences to the loan document tracking process itself. Rather than commit to expensive and time-consuming choices about purchasing or building new solutions, low-code platforms like OnBase, our enterprise information platform, change the game with agility and adaptability.
A low-code platform allows you to configure business applications – including case management and process automation – that fill the gaps between your line-of-business systems. Imagine the efficiencies you’ll gain by minimizing the need for costly custom coding, inefficient shared spreadsheets, and disconnected solutions.
Build better apps, faster
Here are four ways the low-code revolution can help you level up:
1. Develop purpose-built applications without heavy IT involvement
With low-code capabilities, your team quickly and simply puts solutions into production – without having to invest in or build new technology. You also gain flexibility that allows you to expand and change processes as needed, all while integrating new technologies and keeping up with the latest privacy and compliance regulations.
2. Consolidate technology investments
When low-code applications are a part of a larger content services strategy, users are connected to your core system, allowing employees to enjoy the same interfaces they rely on daily, so there’s no training necessary. Without the need to constantly switch screens, they have real-time access to the information and content they need to quickly and knowledgably provide the best service possible.
3. Adapt quicker to the needs of the business
Customer and member experience has been the defining focus of the financial industry in recent years, and organizations have made much progress thanks to smart technology. Utilizing low-code tools extends that strength by empowering your team to innovate custom solutions without having to start at the back of an overwhelmed IT request line.
4. Leverage non-IT specialists
There’s a new phrase in the tech world: Citizen developer. Citizen developers are tech-smart employees – sometimes found outside of the IT department and oftentimes frustrated with long IT queues – who assume responsibility for their own processes via low-code technology.
It’s a concept that’s catching on, as 71 percent of organizations see the concept of a citizen developer as important to their process improvement plans, according to AIIM. With low-code platforms, these valuable employees can get their hands on the technology they need to make an immediate impact.
For a great example, check out this blog post to see how one of our R&D engineers used our low-code tools to develop a crisis management tracking application – by himself. In 24 hours.
Take it to the next level, quickly
Low-code platforms offer a simplified business process that capitalizes on smart technology.
For overwhelmed IT teams, it’s a way to fast-track development by leveraging the resources they have on hand. For bottom-line watchers, it’s a prudent path for dependable, cost-effective solutions. And, for your customers and members, it’s the future they expect today.
Is your financial institution ready to level up? Click here to learn about Hyland’s low-code solution for the financial sector.
