BFSI Enterprise Adoption Guide for Low-Code/No-Code Technology – Market Trends and Provider Landscape
Thematic Report

5 Aug 2021
by Ronak Doshi, Aaditya Jain, Sampada Rahalkar, Kriti Gupta, Pranati Goswami, Divyam Jain, Saumil Misra

The demand for digital consumption in the Banking, Financial Services, and Insurance (BFSI) industry has grown significantly in the past year. There is an urgency among BFSI firms to undertake digital journeys led by customer expectations and introduce flexible work options for employees to keep the business running. This has led them to adopt multiple technologies, solutions, and workflows, increasing the technology stack’s complexity, management, and maintenance.

These needs have driven the demand for professional developers. However, to fast-track digitalization, an increasing number of developers are being channelized toward workflow customization rather than supporting innovation and core product engineering, resulting in a sub-optimal use of developer talent and higher costs of development and operations. To address these challenges, BFSI firms are shifting toward the adoption of low-code/no-code technology.

In this report, we elaborate how low-code/no-code technology helps accelerate digital journeys, reduces costs, and improves operations.

Scope

Industry: BFSI

Geography: global

Contents

This report examines:

  • Low-code/no-code technology provider landscape
  • Implications for IT service providers
  • BFSI enterprises’ investments in low-code/no-code technology
  • Adoption roadmap for enterprises

Membership(s)

Application Services

Banking Information Technology

Insurance Information Technology

Sourcing and Vendor Management

 

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