Many financial institutions still use legacy IT systems that are not compatible with today’s technology for the most part. It takes too much time to build apps that can work with the infrastructure manually. On top of that, it proves quite costly as banks need an advanced IT team to sustain those systems.
Using low-code platforms can help banks get away with the cost of sustaining legacy infrastructure.
Low-code developers don’t have to be advanced in coding. This brings down the cost of hiring specialists. In addition to that, building in low code is much faster than developing from scratch, which is great for reducing the time required.
Giving customers a personalized experience is crucial in every industry to keep them satisfied - especially in the finance industry, where thousands of unique customers have different behaviors. So, banks should not neglect how important personalization is.
Low code is the answer to how to give each customer a unique service.
While it normally takes a huge time to manually handle an insane amount of data to personalize the customer experience, low code makes it easy through automation and data analysis.
Banks deal with many time-consuming tasks on a daily basis. The calculations required to approve loans or estimate quotations are just some of them.
Low-code platforms can automate such processes with the necessary workflows, saving institutions from spending time on tedious tasks.
With efficient solutions built with low code, both banks and their customers can save time and energy, which also contributes to customer satisfaction.
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