Reforma: Simplified programming, fintech protein

In the IT industry there is a trend that allows the development of applications and software to companies in a very short time and with little investment in both specialized personnel and infrastructure. We are talking about Low Code / No Code, two terms that have points of contact, but with some distinctions.

According to the study “Low/No code development and the future of software developers“, published at the end of 2022 by Minerva, a multidisciplinary journal of scientific research, some technology consultancies estimate that the applications and software developments that will use this technology will be 65 percent by 2024.

The research mentions that Low Code refers to a paradigm or approach to software development in which in-depth programming knowledge is not required for the creation and implementation of a software project.

For example, if your company has an IT department, you’ll need to know how to connect the API (external computing module) to your service offering.

On the other hand, No Code platforms are designed for non-IT users, but who have significant knowledge about the line of business of an organization or company.

This allows you to have a clear perspective on the needs that an application must respond to in order to meet the requirements it must solve. Tools such as Monday, a task manager for companies, is an example of this framework.

According to Pablo Pereyra Portugal, Chief Revenue Officer at 2innovate, a Uruguayan firm that facilitates digital transactions in the banking sector, this approach applied in the fintech sector drives innovation and offers greater flexibility in the development of financial products, allowing fintech institutions and companies to quickly adapt to market demands.

“Low-code and no-code tools promote better collaboration between teams with diverse skills, which is vital in the fintech space, where speed and adaptability are critical,” adds the spokesperson.

Benefits include building complex applications without requiring extensive coding, reducing reliance on highly specialized developers, and speeding up time to market thanks to rapid prototyping and agile iteration.

In addition, low-code platforms improve collaboration between technical and non-technical teams, optimizing efficiency and communication throughout the software development cycle.

“In the financial sector, these characteristics make the method an essential tool for companies looking to adapt quickly to new trends in payments and banking services,” explains Pereyra Portugal.

In the case of 2innovate, the firm has the Frame Banking solution, a cloud-based platform to accelerate and simplify the digital transformation of financial institutions through Low Code. How?, facilitating the convergence of payment systems between different actors such as banking, retailers and end users.

“This diversity puts us at the forefront of the NextGen Payments sector, providing customers with a wide range of options for processing their transactions,” he said.

Low Code and No Code have potential for the future. According to SAP, tools such as generative AI will allow developers to tackle more complex initiatives, freeing IT professionals from repetitive tasks to focus on strategic advancements.

Original article:

© 2024 Frame Banking™ powered by 2innovate
Scroll to Top