It is a modular solution that allows the rapid creation and implementation of a cloud-based digital banking entity. This is made possible by the tool’s design around Vault, Thought Machine’s cloud-native core banking engine that uses native cloud services hosted on the AWS infrastructure.
Thus, financial institutions will create complete and highly flexible solutions by developing the necessary functionalities to support a multi-entity, multi-brand, and multi-market strategy. Its pluggable building block architecture works together, leveraging a microservices integration layer that uses the AWS API gateway.
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In less than 12 weeks, production is ready, and the digital bank is available for clients and account management, managing to put a lite version of the bank into operation. This approach will allow the deployment of different brands in multiple markets very quickly, adapting to country-specific business and regulatory requirements, and supporting local suppliers and regional partners.
The corporate banking software as a service GFT’s new accelerator, Digital Bank Launcher (DBL), and enables dynamic scalability, quality, security, and lower operating cost. DBL contains all the necessary components to develop digital channels and the banking platform to facilitate integrations with external service providers and with the fintech ecosystem.
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Low code on Banking and financial services application development-
Banks need to catch up with consumer expectations. With the emergence of fintech – technology firms that are “biting” part of their business thanks to their greater operational flexibility and ability to provide 100% digital experiences to customers – the environment became highly competitive.
Based on the new experience economy models proposed by companies such as Amazon, Airbnb, and Uber, among others, fintech companies develop easy-to-use applications and self-management services that allow finances to be easily managed via mobile.
This focus on user needs making them gain ground over traditional banking Low code and finance app development Industry. Banks were forced to react, and either alone or in alliance with some fintech companies, they developed apps and solutions leveraged on the new UX paradigm.
Nowadays, offering intuitive and fluid user experiences is a “must be.” Financial institutions have to adapt to a time when users want to order, cancel or subscribe to their products and services as they do with Spotify or Netflix. In other words, they must create the digital experience that current customers want.
Today banks need to launch products and services quickly, meeting the demands of their customers and prospects. And for this, they have to develop the ability to implement new functionalities and add benefits with agility. It is essential to have a strategy and a technological platform that gives them the flexibility to respond to market changes. And in this sense, low-code platforms are the ideal solution.
Business leaders already know and appreciate the benefits of low-code tools. One study found that 81% already use a low-code development approach. And other research found that 100% of companies that implemented these platforms have received ROI.
The agile approach to software development
The agility of Low-Code platforms also makes them extremely useful for CIOs looking to integrate Agile development processes into their IT departments.
It’s a quick and easy way to deploy applications and scale them enterprise-wide. And since they remain governed by ISV Banking and financial services, applications developed using Low-Code can instantly become part of your business architecture.
Flexible enough to meet your operational needs and powerful enough for business projects, Low-Code development puts you in control. Your application administrators remain in control, and they can set the necessary permissions themselves.
Thus, information is only shared with those who need it.
So, whether it’s a simple application or a complex solution with several thousand data points, whether you’re a newbie or an experienced developer… it doesn’t matter. Low-Code development brings together the speed and power to meet your needs. Click here https://techktimes.com/