Mexico City.- In the IT industry there is a trend that allows companies to develop applications and software in a very short time and with few investments in both specialized personnel and infrastructure. We are talking about Low Code / No Code, two terms that have points of contact, but with some distinctions.
According to the study “Low / No code development and the future of software developers”, published at the end of 2022 by Minerva, a multidisciplinary scientific research magazine, it indicates that some technology consultancies estimate that software applications and developments that will use this technology will be 65 percent in 2024.
The research mentions that Low Code refers to a software development paradigm or approach in which in-depth programming knowledge is not required for the creation and implementation of a software project.
For example, if your company has an IT department, you will need to know how to connect the API (external computing module) to your service offering.
On the other hand, No Code platforms are designed for non-computer users, but who have important knowledge about the business of an organization or company.
This allows you to have a clear perspective on the needs that an application must respond to in order to cover the requirements that it must provide a solution to. Tools like Monday, a task manager for companies, is an example of this framework.
According to Pablo Pereyra Portugal, chief revenue officer at 2innovate, a Uruguayan firm that facilitates digital transactions in the banking sector, this approach applied in the fintech sector drives innovation and offers greater flexibility in the development of financial products, allowing institutions and fintech companies adapt quickly to market demands.
“Low Code and No Code tools promote better collaboration between teams with diverse skills, which is vital in the financial technology space, where speed and adaptability are essential,” adds the spokesperson.
Advantages include creating complex applications without requiring extensive coding, reducing reliance on highly specialized developers, and accelerating time to market through rapid prototyping and agile iteration.
Additionally, Low Code platforms improve collaboration between technical and non-technical teams, optimizing efficiency and communication throughout the software development cycle.
“In the financial sector, these characteristics make the method an essential tool for companies seeking to quickly adapt to new trends in payments and banking services,” explains Pereyra Portugal.
In the case of 2innovate, the firm has the Frame Banking solution, a cloud-based platform to accelerate and simplify the digital transformation of financial institutions through Low Code. How?, facilitating the convergence of payment systems between different actors such as banks, retailers and end users.
“This diversity places us at the forefront in the 'NextGen Payments' sector, providing customers with a wide range of options for processing their transactions,” he highlighted.
Low Code and No Code have potential for the future. According to SAP, tools like generative AI will allow developers to tackle more complex initiatives, freeing IT professionals from repetitive tasks to focus on strategic advances.
#Simplified #programming #fintech #protein
