LATEST INTELLIGENCE
HIGHER CUSTOMER EXPECTATIONS . The rise of a digital-native generation of customers requires the financial industry to change how they interact with them . This new demographic is accustomed to highly personalized marketing and convenient , technologybased services . It is estimated that 80 % of customers use technology for their financial needs ( BMC ), and upwards of 40 % of customers do not visit physical banks within a six-month timespan .
According to a Gartner survey in 2019 , in the past four years , 90 % of enterprises have experienced challenges that have upset normal operations : severe operating cost pressures , political upheavals , leadership turnover , adverse regulatory interventions , and so on . Naturally , this makes digital transformation a must for companies hoping to stay competitive , as outdated business applications and software systems are simply unable to keep up with this digital shift .
Low-code has increasingly become the solution companies are selecting in order to make their organizations more agile and overcome their business challenges , making it one of the most favorable answers to the “ how ” aspect of digital transformation . Lowcode can accelerate digital transformation by allowing companies to develop apps faster and easier and with little IT involvement . Rapid , easy app creation allows companies to better adapt their business models to changes , automate their processes , and become more tech-savvy than ever ; all without the hefty tech investment needed via traditional app development .
How it works
As the name implies , low-code differs from traditional application development by reducing the need for coding . It can do so thanks to drag and drop features , preconfigured modules , and a visual interface . This allows nonprofessional developers , otherwise known as citizen developers , to be able to create useful applications to automate their tasks with the same effectiveness that professional developers can . p
www . intelligentcio . com INTELLIGENTCIO LATAM 21