Jay is the Global Industry Lead of Financial Services at Appian Corporation, the unified platform for change. Jay is helping companies succeed with their digital transformation via Appian's low-code platform. He is skilled in IT strategy, vendor management, business analysis, management, and enterprise architecture.
With change on the horizon, let's take a look at low-code and no-code applications and their adoption in the financial services sector.
For an enterprise-grade capability (with workflow, case management, system integration) the best places to get value are in complex business processes that span multiple people, departments and systems. These are often activities like customer onboarding that look like a single process to the end client but behind the scenes involve a number of hands touching the activity. For example, a mortgage applicant sees only whether the application was approved or declined. In the bank, though, a relationship manager, underwriters, compliance, legal and operations teams are often involved. Low-code offers a fast way to develop an orchestration without the ongoing maintenance costs of traditional programming.