Financial institutions often struggle with inefficiencies. Every day, loan officers juggle approval workflow spreadsheets, compliance teams manually review thousands of transactions, and customer service reps switch between multiple systems to answer basic queries. These challenges cost financial institutions dearly in time and money while hurting customer satisfaction.
A growing number of institutions have discovered that low code platforms can dramatically simplify these complex operations. This article explores how low code technology transforms financial operations and provides practical guidance for implementation.
Low code platforms accelerate financial application development by providing visual tools and pre-built components.
Financial institutions can automate key workflows while maintaining security and compliance.
Integration capabilities connect legacy systems without requiring complete replacement.
Organizations report major efficiency gains and cost reductions after implementation.
Solutions scale from simple process automation to complex enterprise applications.
Process inefficiency is a central issue in finance—essential functions like loan approvals, account reconciliation, and regulatory reporting often rely heavily on manual work. For example, a single loan application might pass through ten different people and systems before approval, with each handoff introducing delays and potential errors.
Data fragmentation compounds the problem. Customer information, transaction records, and compliance documentation typically sit in separate systems—data silos. When a customer calls about a loan application, service representatives might need to check three different systems just to provide a status update.
Legacy infrastructure in financial institutions makes it difficult to improve processes. Core banking systems built decades ago still handle critical functions but lack modern capabilities. Complete replacement brings enormous costs and risks, leaving many institutions maintaining aging technology while struggling to add the features customers now expect.
Many financial institutions are finding low code development can help them meet these challenges.
Low code development is a fundamental shift in how organizations build software applications. Instead of writing thousands of lines of traditional code, developers use visual tools and pre-built, drag-and-drop components to rapidly create solutions.
Studies show that low code platforms can reduce application development time by 50-90% compared to traditional methods.
Leading low code platforms offer several essential capabilities:
Financial services, in particular, benefit from low code platforms that provide specialized features for customer onboarding, compliance tracking, and process automation.
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Streamlining core processes
The most immediate benefit of low code comes from automating manual workflows. Financial institutions can use low code platforms to quickly build applications that handle routine tasks like these:
Document processing and validation
Account opening and maintenance
Transaction monitoring and reconciliation
Customer onboarding and updates
Regulatory reporting and filings
These automated processes take far less time and have fewer errors than manual work.
Strengthening compliance and security
Modern low code platforms include robust security and compliance capabilities:
The Dutch Emissions Authority partnered with CLEVR to leverage low code for environmental governance, achieving 100% compliance in their EU ETS year-end cycle for the first time through automated monitoring and reporting.
Creating better customer experience
Low code enables rapid development of customer-facing solutions that meet modern expectations:
Self-service portals and mobile apps
Automated application processing
Real-time status updates and notifications
Integrated communication channels
Personalized service offerings
For example, Rabobank used low code to deliver new web and mobile banking experiences, improving customer satisfaction while reducing development time and costs.
Successfully implementing low code requires a structured approach. You can modify these steps according to your specific goals:
Assess the current situation: Begin by mapping existing processes and systems. Identify high-impact areas where automation or new capabilities would bring the most value. Consider both customer-facing and internal operations.
Choose the right platform: Select a low code platform with strong security, the compliance features you need, and integration capabilities. Look for financial services experience and a track record of successful deployments. You should also consider factors like scalability and total cost of ownership.
Start small but strategic: Begin with a focused project that can demonstrate clear results. Common starting points include automating a simple manual process or building a customer self-service portal. Use this initial project to build expertise and prove value.
Build internal capability: Train both technical and business teams on the platform.
Create governance for development standards and security requirements, and be sure to document best practices and reusable components.
Scale methodically: Expand successful solutions across the organization and look for opportunities to reuse components and standardize approaches. While scaling, keep security and compliance in focus. You’ll also want to monitor and measure results to demonstrate ROI.
Financial institutions considering low code adoption often raise valid concerns about implementing this technology.
Security and risk management
Many financial organizations worry that low code platforms might introduce security vulnerabilities. Since security is a high priority, that’s a valid concern. Modern low code platforms, however, incorporate enterprise-grade security features from the ground up, with built-in encryption, access management, and automated compliance checks.
Banking-specific security requirements receive dedicated attention. For example, Mendix built its platform to meet strict financial industry standards around data protection and regulatory compliance.
Technical depth and complexity
A common concern is whether low code platforms can support sophisticated financial applications. The reality is that modern low code solutions have been successfully implemented in banking and finance. For example, DLM Finance used low code to build Trade Manager, an enterprise-grade portfolio and treasury management system. This platform processes complex derivatives and ensures compliance with regulatory reporting requirements.
Integration with core systems
Many financial institutions rely on legacy core banking systems, making integration a top concern. Experience shows that leading low code platforms excel at connecting disparate systems.
Pre-built connectors for common banking platforms reduce integration complexity, while standard API support enables connectivity between legacy and modern systems. These capabilities help organizations wrap existing functionality and gradually modernize applications rather than replacing everything at once.
CLEVR combines deep financial services expertise with proven low code capabilities, particularly through its partnership with Mendix. Working with CLEVR brings several key benefits:
Industry experience: CLEVR has helped numerous financial institutions modernize operations using low code platforms. Past projects include automated customer onboarding, compliance tracking, and integrated service portals.
Technical excellence: As a Mendix Platinum Partner with extensive certifications, CLEVR ensures solutions follow best practices for security, scalability, and maintainability.
Proven process: CLEVR’s implementation approach balances quick wins with strategic goals. Organizations can start with high-impact projects while building toward comprehensive operational excellence.
For more information, read more about CLEVR’s impact in the financial sector through our recent success stories:
CED, a European specialist in claims management handling approximately one million claims worth more than €2.5 billion, cut claim handling process time by 50% through its Automatic Damage Settlement Platform (ADSP). The move transformed its IT from a cost center into a revenue-generating SaaS solution.
The DSI Foundation implemented a secure Disciplinary Law Complaint application for handling complaints filed through the Tuchtrecht Banken (Court of Discipline for Banks) website, meeting strict legal guidelines and security requirements.
Zilveren Kruis, one of the largest health insurance companies in the Netherlands with over five million policyholders, created a center of excellence for low code development that accelerated application delivery while maintaining cost control.
This article uses insights from multiple sources to provide a comprehensive view of low code in finance. Primary sources include IDC research reports, Gartner analysis, and documented case studies of low code implementations in financial services. The recommendations reflect approaches validated through successful deployments across multiple institutions.