Unleashing the Power of Low Code No Code

Among the big shifts happening in the ever-evolving landscape of the #Fintech and #Technology industry, one particularly intriguing trend is the rise of Low Code No Code (#LCNC) platforms. This transformative approach empowers individuals, regardless of their coding expertise, to create innovative solutions and applications with unprecedented speed and agility.

I've been thinking about how LCNC capabilities are changing things, especially in fintech and #banking. In the fast-moving world of finance, where being quick and adaptable is key, traditional methods often don't cut it. Dealing with slow development, complex changes, and over-relying on technology partners can slow us down.

But now, LCNC is shaking things up. According to experts at Gartner, by 2025, about 70% of new business apps will use LCNC. And by the next year, LCNC could be behind more than 65% of app-making activity. That's huge!

LCNC isn't just a passing trend. It's becoming the norm for over half of medium and large-sized organisations. Why? Because it helps automate and simplify service creation which used to be a big headache.

Overcoming Traditional Challenges

Let's talk about the old way of doing things. Traditional service creation and integration processes are laden with complexities that impede progress and inflate costs. From raising requests with partners to navigating through development, testing, and deployment cycles, the journey is often marred by delays and inefficiencies. These challenges not only hamper agility but also escalate time to market and costs, putting businesses at a competitive disadvantage.

The LCNC Advantage

LCNC is swooping in to save the day. Platforms and solutions with LCNC capabilities excel in seamless integration with third-party systems, offering pre-integrated protocols and UI-based modules that simplify data orchestration and ensure high performance and availability. This seamless integration not only enhances operational efficiency but also future-proofs the infrastructure for scalability, enabling businesses to adapt to evolving market dynamics and scale their operations seamlessly. By empowering users with intuitive tools and pre-built components, LCNC enables rapid development and deployment of financial services.

Empowering Innovation and Efficiency

When it comes to coming up with new ideas, creating, and launching services into the market, LCNC is a game-changer. Fintech platforms with LCNC capabilities equip users with intuitive tools and pre-built components. Features like drag-and-drop interfaces, configurable native flows, and real-time UI updates, streamline the development process. This empowers teams to ideate, innovate, and iterate swiftly, without being bogged down by coding and technical complexities.

Reducing Costs and Accelerating Time to Market

In my opinion, the biggest strength of LCNC lies in its ability to reduce costs and get things done faster. Yeah, it's a big deal! By minimising dependency on vendors, making organisations self-reliant, and automating repetitive tasks, businesses can slash development time and accelerate time to market.

Seamless Integration and Scalability

LCNC capability enables platforms to connect with other systems and handle lots of data. Such platforms excel in seamless integration with third-party systems.

Embracing the Future of Digital Innovation

It's no surprise that more and more organisations are jumping on the LCNC bandwagon in the ever-evolving landscape of #digitalbanking and fintech solutions. To sum it up, LCNC capability empowers non-technical users to actively participate in the development process, reducing the burden on IT teams and accelerating time to market. The cost-effectiveness of LCNC solutions, achieved through streamlined development processes, is highly appealing to businesses aiming to optimize their budgets. Platforms with LCNC capabilities offer unparalleled agility, enabling companies to swiftly adapt to market changes, innovate rapidly, and stay ahead of the competition in the ever-evolving landscape of banking and payments.

Visit Comviva to know more about our #Fintech Solutions.

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