{"id":4045,"date":"2023-03-28T04:28:10","date_gmt":"2023-03-28T04:28:10","guid":{"rendered":"https:\/\/www.positiveedge.net\/resources\/?p=4045"},"modified":"2023-10-25T08:24:13","modified_gmt":"2023-10-25T08:24:13","slug":"how-financial-institutions-can-digitise-and-automate-business-processes-with-low-code-no-code-platform","status":"publish","type":"post","link":"https:\/\/www.positiveedge.net\/resources\/how-financial-institutions-can-digitise-and-automate-business-processes-with-low-code-no-code-platform\/","title":{"rendered":"How Financial Institutions can Digitise and Automate Business Processes with Low Code No Code Platform?"},"content":{"rendered":"
<\/figure>\n

Modernisation within the financial services industry is quickly becoming vital for success. It is especially beneficial when it comes to improving customer experience and business process efficiency. At the heart of every modernisation effort, however, lies innovation. Therefore, many financial organizations recognize the advantages of digitizing and automating their business processes through Power Apps Low Code No Code Platform<\/a>, leading to increased efficiency to address three challenges:<\/p>\n

1. How to provide more authentic and personalised customer experiences?
\n2. Reducing business process inefficiencies
\n3. How to digitally transform and innovate whilst needing to maintain existing core and legacy systems?<\/p>\n

With simple and effective no\/low code applications such as Microsoft Power Apps<\/a>, organisations are finding innovative ways to manipulate data and overcome these challenges. This makes these quick and easy-to-develop business apps a common solution across financial services. Here are some examples of how this technology is being implemented.<\/p>\n

Creating a more valuable customer experience through Low Code No Code Platform<\/h2>\n
\"Low<\/figure>\n

The expectation around customer experience is changing, resulting in more customers showing a lack of loyalty to financial brands. According to Gartner, \u201cbanking customers are increasingly demanding authentic human interactions.\u201d This is a level of service that financial organisations need to provide across all channels to boost their customer engagement and loyalty.<\/p>\n

When thinking about human interactions, automation may seem like a step in the wrong direction. But by digitising operational processes in the backend, financial institutions are finding innovative ways to free up employees. As a result, they can focus on delivering the best customer experience.<\/p>\n

Metro Bank <\/a>for example has driven down many of its business inefficiencies by innovating with a retail experience in mind. In-store greeters now use a tablet with Power Apps to access a customer\u2019s details the moment they walk through the door. This helps appointments feel more efficient and personal. If meetings are over-run, the customer is free to leave the bank and is notified via text message when to come back for their appointment.<\/p>\n

Another great example is how Standard Bank<\/a>\u2019s mobile application helps digitise the process of maintaining ATMs. Developed in Power Apps in just 24 hours, it allows employees to geotag and update a machine\u2019s status during routine inspections. Automation in the backend then categorises the data and flags any issues to the appropriate department. This ensures an ATM is promptly fixed to help maintain a premium brand image for customers.<\/p>\n

Finding and solving business inefficiencies<\/h2>\n

If business processes are negatively impacting an organisation\u2019s performance, financial institutions should look for a solution with two aims. One, to reduce inefficiencies and two, to increase profitability.<\/p>\n

Automation can play a key role in both goals and provide a range of business benefits. It can remove paper-based processes, reduce the risk of human error and offer better access to data insights.<\/p>\n

Removing legacy barriers to digital innovation<\/h2>\n

On average, financial institutions can spend up to 70 percent of their IT budgets on maintaining and servicing core systems and legacy applications. But by allocating resources this way, organisations reduce their time and ability to consider new innovations. At the same time, they risk delivering a poor customer experience with outdated systems.<\/p>\n

This is a digital modernisation barrier that Low Code No Code Applications<\/a> and automation platforms can help address in two key ways:<\/p>\n

\u00b7 Create modern user interfaces or mobile applications<\/strong> that seamlessly integrate with any existing business applications, workflows and processes to change how employees interact with legacy systems.<\/p>\n

\u00b7 Extend and innovate legacy systems with Robotic Process Automation<\/strong> to help get more value out of core infrastructure and ensure it can integrate with other modern applications.<\/p>\n

The importance of innovation for financial services with Low Code\u00a0 No Code Platform<\/h2>\n
\"Low<\/figure>\n

Innovation is fundamental for any business growth. Whether you\u2019re considering how to deliver more personalised customer engagement, reduce inefficiencies or implement new solutions. So if you\u2019re considering how to begin innovating with no\/low code, here are some things to keep in mind.<\/p>\n

Firstly, pinpoint any of your current business processes that aren\u2019t operating as well as you\u2019d like or delivering the right level of insights. This will help you consider what use cases could drive your transformation to improve these inefficiencies and allow you to match the technology to the best approach before investing in a solution upfront.<\/p>\n

Innovation can come from any part of an organisation. Always get input from a mix of IT and business teams when doing this research. This ensures you understand what pain points and inefficiencies exist within your organisation. It will also help ensure any new technology you bring in will work alongside the people who use it day-to-day.<\/p>\n

If you\u2019re not sure where to start, see how implementing common use cases such as improving manual or paper-based tasks and reducing repetitive or data-heavy processes can improve your efficiencies. Then once you\u2019ve got the ball rolling, it\u2019ll be easier to identify other inefficient processes that could be improved through digitalisation.<\/p>\n

There\u2019s a wealth of potential for No Code Low Code Applications<\/a> in financial services. With tools like Microsoft Power Platform<\/a>, you can have a solution up and running in a matter of days and weeks rather than months and years.<\/p>\n

PositiveEdge is the Certified Microsoft Power Platform Partner in India<\/h2>\n

Microsoft Gold Partner, PositiveEdge offers Microsoft Power platform consulting services & implementation in India. When Collaborated, Microsoft Power BI<\/strong><\/a>, Power Apps<\/strong><\/a>, Power Automate<\/strong><\/a>, and Power Virtual Agents<\/strong><\/a> allow you to innovate and speed up delivery and implementation, anywhere in your business.<\/p>\n

Conclusion<\/strong><\/p>\n

Microsoft\u2019s Implementation partner, PositiveEdge<\/a> help your business implement solutions to analyze data and generate visualizations from a wide range of data sources using Microsoft Power Platform. PositiveEdge\u2019s<\/strong><\/a> team is ready to estimate your Power BI project, be it a simple business app or an integrated solution that includes the Office 365 suite or other Microsoft software.<\/p>\n

Book a free consultation.<\/strong><\/a><\/p>\n

Find out more,<\/p>\n

Microsoft Power Platform\u200a\u2014\u200aEmpowering Organizations to Digital Transform with Modern Solutions<\/a><\/p>\n

How Business Intelligence through Microsoft Power BI is transforming Manufacturing Operations?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Modernisation within the financial services industry is quickly becoming vital for success. It is especially beneficial when it comes to improving customer experience and business process efficiency. At the heart of every modernisation effort, however, lies innovation. Therefore, many financial organizations recognize the advantages of digitizing and automating their business processes through Power Apps Low Code No Code Platform, leading to increased efficiency to address three challenges: 1. How to provide more authentic and personalised customer experiences? 2. Reducing business process inefficiencies 3. How to digitally transform and innovate whilst needing to maintain existing core and legacy systems? With simple and effective no\/low code applications such as Microsoft Power Apps, organisations are finding innovative ways to manipulate data and overcome these challenges. This makes these quick and easy-to-develop business apps a common solution across financial services. Here are some examples of how this technology is being implemented. Creating a more valuable customer experience through Low Code No Code Platform The expectation around customer experience is changing, resulting in more customers showing a lack of loyalty to financial brands. According to Gartner, \u201cbanking customers are increasingly demanding authentic human interactions.\u201d This is a level of service that financial organisations need to…<\/p>\n","protected":false},"author":3,"featured_media":4046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[63,62,60,61],"acf":[],"yoast_head":"\nPower Apps Low Code No Code Platform | PositiveEdge<\/title>\n<meta name=\"description\" content=\"PositiveEdge is the Certified Microsoft Power Platform Partner in India | Financial services with Low Code No Code Platform\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.positiveedge.net\/resources\/how-financial-institutions-can-digitise-and-automate-business-processes-with-low-code-no-code-platform\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Power Apps Low Code No Code Platform | PositiveEdge\" \/>\n<meta property=\"og:description\" content=\"PositiveEdge is the Certified Microsoft Power Platform Partner in India | Financial services with Low Code No Code Platform\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.positiveedge.net\/resources\/how-financial-institutions-can-digitise-and-automate-business-processes-with-low-code-no-code-platform\/\" \/>\n<meta property=\"og:site_name\" content=\"PositiveEdge | Digital Transformation Experts\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-28T04:28:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-25T08:24:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.positiveedge.net\/resources\/wp-content\/uploads\/2023\/03\/BFSI_1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" 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