The rapidly increasing pace of change and need for code in many industries, including banking, has driven major growth in two alternatives to traditional software development: “low-code” and “no-code,” according to Steve Cocheo, executive editor at The Financial Brand.
Low-code and no-code software provides users with the basic code elements, enabling financial services firms to do much or all customization in-house, so changes can be made more quickly and economically than if a tech vendor was involved in any tweaks.
While information technology still has oversight of the technology, the availability of low-code and no-code frees the technicians for more complex tasks because marketing or other departments can do most or all of the development of an app or program.
