LOW-CODE: A REVOLUTION IN DEVELOPMENT OF BANKING APPLICATIONS
The article examines the use of low-code platforms as a key trend in the information technology industry, attracting the attention of novice developers and widely used in various sectors, in particular in finance. Advances in digital banking technologies have opened up a whole world of opportunities for banks. For decades, complex software integration, resulting in high technological costs, has made digital innovation accessible only to large banks, but the development of low-level programming technologies has lowered barriers to market entry, allowing small and medium-sized banks to compete with larger rivals. Low-code platforms cover the full development cycle of banking applications, including production, testing, debugging, integration, and deployment. Due to the availability of ready—made code, visual development functions and advanced CI/CD tools (Continuous Integration, Continuous Delivery), low-code platforms accelerate the delivery of banking software several times. Low-code approaches greatly simplify the software development process, making it accessible to people without specialized skills and allowing them to create functional applications. Low-code applications can be easily scaled using reusable code components as the bank develops or updates its business strategy. As a result, the speed of development and the availability of low-code tools allow banks to reduce the overall cost of developing banking software. Thanks to low-code platforms, banks can save on hiring professional developers and further application maintenance. It is also convenient that any type of integration can be carried out on the low-code platform. Also, some vendors integrate into the functionality of their platforms the possibility of multiple reuse of ready-made business processes. The article provides an example of the successful implementation of the Attribute system in Otkritie Bank, which illustrates how automation of routine tasks can increase productivity and improve the quality of customer service.
Gyunter I.N., Vaganova O.V., Feyzrakhmanova N.M., Baturova N.V. “Low-code: a revolution in development of banking applications”, Research Result. Economic Research, 11(1), 95-105, DOI: 10.18413/2409-1634-2025-11-0-9
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