Low-code platforms are software development tools that allow users to create applications with minimal or no coding. They enable faster, easier, and cheaper development of digital solutions for various business needs. Low-code platforms are especially useful for the banking industry, which faces many challenges such as increasing customer expectations, regulatory compliance, legacy systems, and competition from FinTechs.
In this blog post, we will explore the benefits of low-code platforms for banking and review some of the best low-code platforms available in the market. We will also provide some tips on how to choose the right low-code platform for your banking needs.
Low-code platforms offer many advantages for banks that want to digitize their processes, products, and services. Some of the main benefits are:
There are many low-code platforms available in the market, but not all of them are suitable for banking applications. Here are some of the criteria that you should consider when choosing a low-code platform for banking:
Based on these criteria, here are some of the best low-code platforms for banking that we recommend:
Kovaion’s Low-Code Platform is a cutting-edge tool that enables businesses to swiftly create and deploy applications with minimal coding. This platform is designed for the agile creation of personalized and enterprise-ready applications.
The platform boasts a Generative AI App Builder, which is a user-friendly interface fostering seamless collaboration between IT professionals and business users in the development process.
Kovaion’s low-code application development system is a web-based platform optimized exclusively for small businesses to enterprise companies. It offers a simple application builder and an advanced dashboard for easy management.
The platform provides a drag-and-drop interface for building workflows, making it easy for users to design and implement business processes.
Kovaion’s platform supports third-party integration, allowing businesses to connect their existing systems and enhance their capabilities.
The platform also includes features like email notifications and the ability to create a personalized app experience.
With Kovaion’s Low-Code Platform, businesses can accelerate their app development, resulting in quicker time-to-market.
The platform allows businesses to build applications with minimal coding knowledge, reducing the cost associated with traditional development methods.
Kovaion’s Low-Code Platform improves productivity by enabling businesses to streamline their development process.
The platform is designed to provide a premium customer experience, with its user-friendly interface and advanced features.
In the banking sector, a key advantage of the Kovaion Low-Code Platform is the quick development of custom applications, streamlining crucial functions like customer onboarding, loan processing, and fraud detection.
Whether you’re an entrepreneur launching a startup or an enterprise-level company looking to accelerate your app development, Kovaion’s Low-Code Platform can be your partner to achieve your business goals.
Mendix is a leading low-code platform that enables banks to build out digital ecosystems using composable, reusable components. Mendix offers industry-specific solutions for banking such as customer onboarding, native banking applications, digital lending, etc. Mendix also supports Cloud-native development, AI-assisted development, multi-channel deployment, etc.
OutSystems is another leading low-code platform that enables banks to build enterprise-grade applications with speed and agility. OutSystems offers industry-specific solutions for banking such as digital account opening, omnichannel banking, fraud detection, etc. OutSystems also supports Cloud deployment, AI-powered automation, DevOps integration, etc.
Appian is a low-code platform enabling banks to automate their processes and workflows easily and efficiently. Appian offers industry-specific solutions for banking such as customer due diligence, commercial lending, trade finance, etc. Appian also supports Cloud deployment, AI and machine learning, business process management, etc.
Unqork is an online platform that enables banks to build complex applications without writing any code. Unqork offers industry-specific solutions for banking such as consumer banking, wealth management, insurance, etc. Unqork also supports Cloud deployment, data integration, security, and compliance, etc.
Betty Blocks is a low-code platform that enables banks to build applications with drag-and-drop functionality and visual modeling. Betty Blocks offers industry-specific solutions for banking such as online banking, payment processing, mortgage calculator, etc. Betty Blocks also supports Cloud deployment, API integration, data security, etc.
Creatio is a low-code platform that enables banks to build applications for customer relationship management (CRM), sales, marketing, and service. Creatio offers industry-specific solutions for banking such as retail banking, corporate banking, customer loyalty, etc. Creatio also supports Cloud deployment, AI and analytics, business process automation, etc.
Zoho Creator is a low-code platform that enables banks to build applications for data management, automation, and collaboration. Zoho Creator offers industry-specific solutions for banking such as loan management, expense management, invoice management, etc. Zoho Creator also supports Cloud deployment, API integration, data security, etc.
Choosing the right low-code platform for banking depends on your business goals, requirements, budget, and preferences. Here are some steps that you can follow to make an informed decision:
Low-code platforms are powerful tools that can help banks transform their digital capabilities and deliver superior customer experiences. By choosing the right low-code platform for banking, banks can reap the benefits of speed, agility, cost-efficiency, and innovation. Low-code platforms can also enable banks to create digital ecosystems that integrate with FinTechs and other third-party providers.
If you are interested in learning more about low-code platforms for banking or want to start building your banking applications with low-code, contact us today. We are experts in low-code development and can help you find the best solution for your banking needs.
