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In the fast-paced banking industry, the demand for innovation is relentless. Banks are tasked with keeping up with customer needs, strict regulations, and tech trends. Low-code proves to be an ideal solution, providing straightforward application development & deployment, which through governance by design maintains the highest levels of security.
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The AppFactory, powered by Mendix technology, equips banks with the tools to independently manage and accelerate their IT innovation projects. This approach, as demonstrated in the European Central Bank (ECB) case, allows banks to establish their own teams and develop their own low-code building blocks, enhancing their ability to respond to changing needs. The benefits of the AppFactory concept include:
Integrate different systems and move various tasks in banking customer service to self-service, eliminating the need for manual data entry. This not only boosts the productivity of customer service representatives but also minimizes errors, leading to improved customer satisfaction. The benefits include:
Leverage low-code to develop native banking applications that simplify the customer onboarding process. These applications can automate tasks like data collection, verification, and account setup, offering a smooth experience for customers. The advantages are:
Legacy systems in banking can be a bottleneck due to their outdated architecture and lack of flexibility. Low-code platforms offer a modern, adaptable, and cost-effective solution to revamp these systems, integrating them seamlessly with cutting-edge technologies. The modernization process results in:
