Low-Code Fintech
The past year forced traditional financial institutions to accelerate infrastructure upgrades and the switch to digital systems. This resulted in simplified customization and integration of the digital infrastructure. In the short term, this trend includes low-code developments (i.e., requiring little coding knowledge), and in the long term ― no-code solutions.
Low-Code Fintech
The past year forced traditional financial institutions to accelerate infrastructure upgrades and the switch to digital systems. This resulted in simplified customization and integration of the digital infrastructure. In the short term, this trend includes low-code developments (i.e., requiring little coding knowledge), and in the long term ― no-code solutions.
We are already seeing specialized suppliers offering low-code platform services to banks instead of modular solutions. This enables easy and quick additions of the needed services: from payment solutions to more complex products with machine learning algorithms and ready-made trained models.
In the future, banks will be able to put together customized solutions to maximize their ability to meet customer needs instead of only conforming to standard use cases.
Thought Machine
Thought Machine platform provides its services on a core banking-as-a-service model to giants like Standard Chartered, Lloyds, and Swedish SEB.
Tide
Tide uses the core infrastructure of Clearbank and Xero and focuses on independent developments of only those solutions that stand out in the market, such as automated invoicing or app-based lending.
Dextcloud
Low-code startup Dextcloud helps integrate existing application components that are distributed across companies' internal infrastructure.
Railsbank
Visa has invested in the Railsbank platform, making it possible to reduce account maintenance fees from £45 to £10.
Aventus
Aventus develops low-code insurance solutions and offers 10 core modules.
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