By Ernie Smith
How Can Low-Code Development Minimize IT Backlogs?
The true benefit of low-code development for banks lies in how much it can do and how quickly it can do it. Given the complexity of most financial institutions, traditional programmers might need years to optimize platforms for modern operations. With 88 percent of IT departments saying workloads have increased, according to a Salesforce study, low-code’s arrival is not a moment too soon.
By expanding its reach to more staff, low-code development allows for faster turnaround, which could allow IT departments to make short work of initiatives that otherwise might not be a priority.
A recent Forbes article noted that banks are applying technology from companies such as Salesforce to transform manual processes that typically take weeks to complete into operations that can be done in just minutes; for example, researching a client before a meeting, which might require data from dozens of legacy systems.
Low-code is also good for managing the occasional curveball, such as the need to change business processes to handle a singular event like the Paycheck Protection Program. According to SiliconANGLE, the critical need for the program, and the speed at which it was launched, required banks to complete in weeks what they might have taken months or years to do normally.
“The only way a company could build such an app so quickly was by leveraging low-code functions — which enable people to create applications through graphical user interfaces instead of traditional hand-coded programming — in the underlying platform,” writer Jason Bloomberg explains.
