How the use of the LowCode/NoCode platform contributes to the digitalization of banks’ business
09 February 2023
On February 8, 2023, the soft Xpansion company participated as a partner in the international online conference: «Digital service and customer experience in Wartime - 2023» by the International Financial Club "Bankir".
In current extremely hard conditions, regardless of the business type, it is very difficult to establish a stable and efficient operation of companies, thus the digital transformation of business becomes one of the key competitive advantages. It is modern technologies that provide now all the opportunities for this, so IT products can help assemble the efficient work of even large companies with thousands of employees, providing them with everything they need to work from home.
Usually, for such large organizations as banks, the implementation of new IT products causes some caution. To make the implementation of even complex solutions as simple and understandable as possible, we offer and actively develop our LowCode/NoCode platform softXspace, with 15+ years of experience in the banking market of IT solutions. So we presented the capabilities of the modern softXspace platform for business digitalization at the conference for more than 50 representatives of the banking market from Ukraine, Kazakhstan, Uzbekistan, Moldova, and other countries.
We talked about the advantages of LowCode/NoCode for the development and implementation of complex banking IT products. Among the main ones are the opportunity to significantly shorten the implementation period and reduce costs at each stage of development and further support, and high flexibility and efficiency of implementation, with no longer requirement of constantly search for expensive IT experts because the implementation of any idea needs only the cooperation of business and technical teams of the bank.
The softXspace platform includes everything you need to start a digital business transformation just now, build a company's digital workspace, comprehensively automate business processes and increase work efficiency. To build new or adapt ready solutions, the platform provides many LowCode/NoCode tools, and in addition, even the basic delivery already includes a ready-made digital space with personal employees' offices, automation of internal processes, and much more for the comfortable and efficient work of the entire organization 24/7, from anywhere and anytime.
Also, we mentioned another important advantage of the platform which is the presence of ready-to-use products based on it. These solutions significantly expand the basic functionality and capabilities of the digital workspace, including ready-made processes, forms and cards, document templates, reports, and much more. Surely, we presented such ready-to-go products for automating classic document flow, managing contracts, procurement, automating the work of collegial bodies, a corporate portal, and an external portal for interaction with counterparties.
One more advantage is the platform's capability to integrate with the bank's IT landscape and existing of a number of ready-to-go connectors. In particular, we have experience in integration inside the banks with ABS, ERP, ECM, CRM, and other systems.
The main goal of the event was to convey to representatives of banks and financial organizations information that today it is really simple to start implementing a unified digital space, comprehensively automate business processes, solve complex integration tasks and save time and budgets for the development, implementation, operation and scaling of IT products.
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