Eximee Team
Digital transformation in banking is the process of implementing modern technologies to improve operational efficiency and increase customer value. This includes the use of automated customer service systems, such as chatbots, and the modernization of business processes through digitization. These solutions enable banks to better meet growing customer demands and increase their competitiveness in the marketplace. This kind of transformation wouldn't be possible without the right tools and technologies. And, one technology that has gained significant popularity in recent years, especially in the banking industry, is low-code.
Low-code technology is transforming the way banking applications are developed. Low-code platforms, such as the Eximee Low-Code Development Platform, enable rapid creation and deployment of applications using intuitive tools, which significantly reduces development time compared to traditional coding. Banks can build business applications without the need for large development teams, efficiently automate processes, manage data, and respond more quickly to market changes.
Low-code enables quick prototyping and modification of applications, allowing banks to dynamically adapt to market demands and introduce new products and services in a short time frame.
Furthermore, low-code platforms reduce development costs by eliminating the need for highly skilled developers. Citizen developers – that is, low-code developers without advanced programming skills – can build complex and secure applications, freeing professional developers to focus on more demanding projects.
A key feature of leading low-code platforms is the reusability of created components, meaning that a given component can be used across multiple applications. Integration with existing IT systems allows banks to seamlessly integrate new solutions into their infrastructure. Low-code tools work effectively with business process management (BPM) tools to increase synergy and optimize processes.
Digital transformation with low-code technology offers numerous benefits to banks. One of the most important advantages is business process optimization. Low-code tools make it possible to automate and streamline internal processes such as loan application processing, customer account management, and payment processing. Automating these processes speeds up operations and reduces the risk of human error, leading to greater efficiency and accuracy in banking operations.
Low-code platforms significantly improve customer service in banking. A good example is the development of self-service processes. Eximee enables the automation of key workflows by creating self-service processes and customer portals. This allows customers to manage tasks such as filing complaints or updating personal information on their own, increasing customer satisfaction and convenience.
In addition, the integration of various systems provides bank employees with a complete view of customer history, enabling faster and more accurate responses and resolving issues. The flexibility of low-code platforms also allows services to quickly adapt to evolving customer needs, which is critical in the dynamic banking environment. The ability to respond quickly to customer feedback not only helps banks better meet customer expectations, but also fosters long-term customer relationships, increasing loyalty and trust.
Supporting bank employees with low-code technology brings benefits to both the front and back office. With Eximee, employees gain access to intuitive tools that simplify task organization and day-to-day management. Automating processes such as task queuing and prioritization reduces bottlenecks and speeds up task completion. Low-code tools seamlessly integrate with CRM systems to streamline customer data management, increasing employee efficiency and satisfaction while improving quality of service.
Low-code technology brings a number of benefits to bank customers, including a more integrated approach to banking services. As a result of using low-code technology, banks can create integrated solutions that support an omnichannel approach, bringing together different contact channels – such as online applications, mobile apps, and branch systems – into a unified experience. This allows customers to seamlessly access banking services through any channel. For example, they can start a loan application on a mobile app and continue it on the bank's website or in a branch without having to repeat the same steps.
Low-code platforms enable the creation of applications that provide an exceptional user experience (UX) for customers. They facilitate the development of intuitive and responsive user interfaces that are easy to navigate and deliver consistent experiences across all channels.
Service personalization is another key benefit. Low-code technology allows banks to tailor their offerings to individual customer needs. Applications built with low-code can support the delivery of personalized financial product recommendations based on data analysis and user behavior. Personalization makes customers feel more valued and understood, increasing their loyalty to the bank.
As demonstrated by PKO Bank Polski, low-code technology is making a significant contribution to the digital transformation of banks. By implementing the Eximee platform, the bank was able to quickly develop and deploy new applications. A key element of this implementation was the creation of a new communication channel with customers, using machine learning to better understand customer behavior and respond immediately when assistance is needed. Business process automation increased the bank's operational efficiency by reducing the time it takes to process loan applications and manage customer accounts. In addition, the bank introduced modern user interfaces that make it easier for customers to access banking services through online and mobile banking platforms.
Santander Bank Polska has leveraged low-code technology as a core component of its digital transformation, optimizing both front and back-office operations. In the front-office, automating the loan application process with automated data verification tools has accelerated credit decisions and improved the quality of customer service. In the back-office, the integration of various systems has streamlined customer data management and enabled faster access to information. In addition, by combining Eximee with Camunda, the bank can not only map, progressively build and automate processes, but also efficiently maintain large-scale operations. This approach enables Santander Bank Polska to realize its vision of modern banking and deliver high quality services to its customers.
Low-code technology in banking continues to grow dynamically. Gartner predicts that the global low-code market will reach $31.9 billion by the end of 2024. According to a report by Fortune Business Insights, the low-code market in North America alone is expected to grow at a CAGR of 32% from 2024 to 2032, reaching $264.40 billion by 2032. By 2026, up to 80% of low-code technology users will come from outside traditional IT departments.
The banking industry's enthusiasm for low-code stems from its ability to facilitate the efficient creation of complex applications. Banks can quickly deploy new products and improve existing processes without relying on highly skilled development teams. This technology is increasingly being used to improve operational efficiency and respond quickly to evolving regulatory and market demands.
To meet future banking challenges, low-code technology will play an increasingly important role in integrating advanced automation tools. Hyperautomation, which combines artificial intelligence, machine learning, and business process automation, is becoming a key element of digital transformation.
Hyperautomation enables banks to not only automate repetitive tasks, but also to optimize processes at scale and extract valuable insights from processed data, significantly improving operational efficiency. By combining low-code technology with hyperautomation, banks will be better equipped to adapt to dynamic market changes and respond more effectively to customer needs. Low-code tools enable the creation of automated workflows that enable banks to perform operations faster and more accurately.
Low-code technology is revolutionizing the banking industry by enabling the rapid development and deployment of applications that directly drive more effective digital transformation across multiple areas. With platforms such as the Eximee Low-code Platform, banks can efficiently automate processes, improve customer service and increase employee productivity.
This technology reduces costs and enables flexible solution scaling. Combined with trends such as hyperautomation, low-code opens up new opportunities for banks to create value for their customers.
