Growth of No-code platforms and it's adoption in Fintech

No-code platforms allows programmers and non-programmers to create application software through graphical user interfaces and configuration instead of tradition computer programming. (Source: Wikipedia)

No-code platforms have seen tremendous growth in the recent years and Forrester predicts that the market will grow from $3.8 billion in 2017 to $21.2 billion in 2022.

No-code platform has immense potential for the fast and ever changing fintech and payments landscape. The changes whether regulatory or innovative are happenning fast in Fintech and no-code platforms provides the right tools to develop the new applications and create new applications by interacting with the APIs, resulting in a faster turn-around and go to market when the traditional ways of development can take months/years.

No-code platforms have some good reason to becoming the de-facto approach for development - 

• They reduce the overall development process to build/enhance applications.
• Give an opportunity for the non-technical users to be part of the developement.
• Have a low learning curve and reduces the maintenance overhead thus enabling more innovation.
• Provides the necessary security, cross-platform and integration features which can be customized.

Conclusion

Since a lot of modernization is happenning in the Fintech industry, low-code platforms provide a good toolset to design and develop applications which can meet the needs of the growing industry and not allowing the modernization and transformation efforts to be help up with traditional ways or shortage of skills.