Content services for the future of banking

Introduction

Low-code/no-code application building

In the dynamic world of financial services, data management is a linchpin for success. Financial institutions grapple with copious amounts of data, from customer transactions and market analytics to regulatory compliance information. Efficient data management is not only a necessity but also a competitive advantage. Enter low-code/no-code solutions, which seamlessly integrate with content management software like OnBase. In this article, we will explore why it is crucial for financial services institutions, particularly those utilizing OnBase (also known as Nautilus), to think from a low-code/no-code perspective

Accelerated development and deployment

Traditional software development can be time-consuming and painstaking, often taking months or even years to build and deploy data management systems. Utilizng the low-code application building options offered with OnBase expedites development times significantly.

According to a report published by Redhat, the use of no-code/low-code solutions can reduce the development time of an application by up to 90%. This agility enables these institutions to respond swiftly to market changes and evolving regulatory requirements while maintaining a competitive edge.

Cost efficiencies

Developing custom data management solutions can be prohibitively expensive, especially for smaller financial services institutions. When integrated with OnBase, low-code/no-code platforms eliminate the need for extensive developer teams, thereby reducing development costs significantly. This cost efficiency empowers financial institutions to allocate resources judiciously, investing in critical areas such as customer service, cybersecurity, and additional enhancements to their OnBase-powered systems.

Accessibility for non-technical users

A standout advantage of low-code/no-code solutions like OnBase is their accessibility to individuals with limited coding expertise. Financial professionals who possess a deep understanding of their data but lack programming skills can now actively participate in the development and management of data applications within the OnBase ecosystem.

This democratization of technology fosters collaboration across departments, ensuring that subject matter experts have direct control over their data. A study published by Zapier reveals that 37% of users of no-code/low-code solutions save between 10 and 20 hours of work per week.

Reinforced regulatory compliance

Compliance with a continuously evolving landscape of financial regulations is an ongoing challenge for the industry. Low-code/no-code platforms, when integrated with OnBase, can be configured to ensure that data management processes seamlessly adhere to the latest regulatory requirements. The synergy between OnBase and low-code/no-code solutions empowers financial institutions to adapt rapidly to new regulations, thereby reducing compliance risks and mitigating the potential for costly penalties.

Get more from your OnBase investment

In the ever-evolving world of financial services, data management is not just a requisite but a strategic advantage. The integration of low-code/no-code solutions with content management software like OnBase offers financial institutions a powerful toolkit for adapting to a rapidly changing landscape. This synergy enables them to meet regulatory demands, enhance customer experiences, reduce costs, and maintain a competitive edge within the OnBase ecosystem. In an industry where data is the lifeblood, embracing low-code/no-code solutions in conjunction with OnBase is a prudent decision that can yield long-term success.