Revolutionizing Banking in Romania: The Power of Low-Code and No-Code Technology

Today, I would like to invite you to focus on an exciting development in the world of digital transformations, particularly in the banking sector in Romania. As someone who has been at the forefront of leading digital transformations for multiple banks here at Deloitte, I am excited to contribute to the way low-code and no-code technology is shaping the future of operational excellence for our clients.

One of the game changers in the remarkable evolution in technology that has transformed the way businesses operate is the emergence of low-code and no-code platforms, which revolutionize the way banks and financial institutions streamline their operations, enhance customer experiences, and gain a competitive edge in the industry.

?

Low-Code and No-Code: A Brief Introduction

Low-code and no-code are innovative approaches to software development that empower organizations to create applications with minimal hand-coding. These platforms are designed to be user-friendly, allowing professionals from various backgrounds, including business analysts and subject matter experts, to participate in application development without extensive coding knowledge.

For the banking sector, low-code and no-code technology offers a host of benefits, such as rapid application development, reduced development costs, and increased agility. These platforms have the potential to accelerate digital transformation initiatives and drive innovation across both front and back-office operations.

?

The Power of Low-Code and No-Code in Banking

Deloitte has recognized the immense potential of low-code and no-code technology in the banking industry. Our clients are keenly aware that, to stay competitive, they must embrace digital transformation, automate processes, and provide exceptional customer experiences. This is where low-code and no-code come into play.

Through the partnerships with global leading vendors, such as Creatio, a powerful no-code platform for process automation and CRM, we enable our clients to bring their operational excellence to the next level. With the help of a robust business process engine and of AI/ML tools, our clients gain a distinctive advantage.

Here's how:

1.???? Rapid application development: Low-code and no-code platforms like Creatio allow banks to quickly create applications and workflows. This means that new products and services can be brought to market faster, addressing customer needs more promptly. It allows banks to become more competitive and secure their positions on the market.

2.???? Enhanced customer engagement: AI and machine learning tools integrated into these platforms enable banks to personalize customer experiences, by providing the next best actions for customers, improving cross-selling and generating upselling opportunities.

3.???? Efficient back-office operations: Low-code and no-code technology streamlines internal processes, reducing operational costs and increasing efficiency. Tasks that once took weeks or months to complete can now be automated and executed in a fraction of the time.

4.???? Seamless integration: Low-code and no-code technology allows banks to easily integrate all legacy systems (e.g. Core Banking System, Document Management System, Credit Bureau, National Agency for Fiscal Administration, Blacklist/AML/FATCA and others) with the “CRM Unified Frontend”.

5.???? Compliance and risk management: These platforms offer robust tracking and reporting capabilities, helping banks stay compliant with regulations and manage risks effectively.

?

Deloitte: Leading the Way in Romania

Low-code and no-code technology are still relatively new in the Romanian market, and Deloitte is proud to be at the forefront, leading the change. As a pioneer and expert in this field, we are committed to providing our clients with the tools they need to thrive in the digital age.

After many years in this filed, my colleagues at Deloitte and I understand that every bank is unique, and that's why we offer tailored solutions using Creatio's powerful no-code platform. It's a testament to our dedication to driving innovation and transformation in the banking sector.

?

Let's Connect and Discuss

If you are interested in learning more about how your company can benefit from this exciting trend, I invite you to contact me. We can discuss how low-code and no-code tools can help you achieve automation and streamline your Finserv applications in the shortest possible time, ultimately delivering a quick return on investment.

The future of banking in Romania is shaped by technology, and low-code and no-code are the tools that will help you stay ahead of the competition. Let's embark on this transformative journey together.

Andrei