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
Banking, Financial Services, and Insurance (BFSI) firms are under increasing pressure to operate sustainably and be mindful of their economic, social, and environmental impact. Regulatory push, changing demographics, risk mitigation, and surge in…
