AI-Driven Low-Code Platforms: The Future of Financial Services

AI-driven low-code platforms are transforming financial services by making app development faster, automating workflows, and improving customer experiences. Here's why they matter:

• Faster Development: Build applications 50% faster.

• Automation: Simplify compliance, customer onboarding, and financial reporting.

• Personalization: Meet the demand for tailored services.

• Integration: Connect legacy systems and modern tools seamlessly.

• Cost Efficiency: Reduce development costs and technical debt.

Key Examples:

• Coast2Coast Mortgage: Automated sales tracking and integrated QuickBooks with loan systems.

• Regions Bank: Built a secure, cloud-based document management system.

AI features like machine learning, process automation, and predictive analytics are helping financial institutions modernize operations, prevent fraud, and deliver better services - all while staying compliant with regulations. Whether it's speeding up loan processing or enhancing customer support, these platforms are becoming essential tools for the industry.

AI and Low-Code in Financial Services

What Are AI-Driven Low-Code Platforms

AI-driven low-code platforms combine visual tools for development with automated code generation and smart integrations. These platforms now include advanced features like machine learning and process automation, making development faster and more collaborative between finance and IT teams.

One example is the Mendix Machine Learning (ML) Kit, which uses the Open Neural Network Exchange (ONNX) framework. Through the ONNX Model Zoo, developers can integrate prebuilt models for tasks like machine translation, body and face analysis, gesture recognition, and speech or audio processing directly into their applications [2].

Benefits for Banks and Financial Firms

AI-driven low-code platforms offer several benefits to financial institutions:

These platforms are particularly useful for modernizing operations while meeting compliance and security requirements. For instance, a credit scoring and financial data analysis company used low-code to tailor lending processes for over 1,500 banks, showing how scalable and effective the technology can be [3]. These practical outcomes are driving rapid adoption across the industry.

Current Adoption and Growth

The financial sector is embracing AI-driven low-code platforms to keep up with digital transformation demands. Here’s how they are reshaping operations:

• Customer Onboarding: Banks are digitizing everything from initial customer interaction to back-office processes.

• Process Automation: Workflows are being streamlined, and manual tasks are reduced.

• Personalized Services: Poor personalization can result in losing up to 38% of customers, according to Gartner [3].

The technology’s growth is further highlighted by platforms like Mendix, which introduced AI-assisted low-code development back in 2018 [2]. This early innovation laid the groundwork for widespread use in financial services, allowing institutions to launch complex applications quickly while maintaining strong security and compliance measures.

Main AI Features in Low-Code Platforms

Process Automation Systems

AI-driven process automation simplifies complex workflows in financial operations by managing repetitive tasks like compliance checks, data entry, and generating financial reports. This allows employees to focus on more strategic responsibilities.

Here’s how AI enhances automation tools:

In addition to workflow automation, AI improves the accuracy of financial decision-making through advanced analytics.

Data Analysis and Predictions

Modern low-code platforms now offer advanced data analysis features tailored for financial operations. These platforms let businesses create AI models using their own data, improving risk assessment and financial planning. For example, the Mendix Machine Learning (ML) Kit significantly shortens the time needed to deploy ML models - from weeks to just hours [2].

While these insights help businesses make better decisions, AI also reshapes customer interactions.

AI-Powered Customer Support

AI-powered chatbots and virtual assistants deliver:

• Instant support for frequently asked questions

• Tailored financial advice based on individual customer data

• Suggestions for services that meet customer needs

"AI is revolutionizing the way financial institutions interact with customers, offering personalized experiences, enhancing security, improving operational efficiency, and enabling proactive services." - Softensity [4]

Smart Document Processing

AI-enabled document processing verifies identities, extracts critical data, and flags compliance issues with high accuracy. By converting unstructured information into usable insights, it not only strengthens security but also identifies unusual patterns or anomalies in transactions [4].

Leading a new era of AI-generated low-code app ...

Solving Financial Industry Problems

AI-powered low-code platforms are tackling major challenges in the financial sector, from ensuring compliance to modernizing outdated systems and improving customer experiences.

Meeting Compliance Requirements

In 2021, global spending on financial crime compliance reached $213.9 billion [6]. AI-driven low-code platforms simplify this daunting task by automating compliance monitoring and reporting, reducing risks and saving time.

Here’s how these platforms improve compliance:

"AI significantly eases this burden by automating the monitoring and reporting processes. It can swiftly sift through vast amounts of regulatory content to spot new requirements or updates to manage adherence to regulatory requirements." [5]

In addition to compliance, these platforms handle transactions with impressive efficiency.

Managing High Transaction Loads

Handling massive transaction volumes without compromising speed or accuracy is critical for financial institutions. For example, ING's Document & Content Services department implemented automated testing for high-volume transactions. Their system now runs over 2,200 automated tests every four hours, ensuring consistent performance without the need for dedicated IT support [7].

Updating Old Banking Systems

Modernizing legacy systems is another major hurdle for financial institutions. AI-powered low-code platforms allow for a smooth transition without disrupting daily operations. Some success stories include:

• Zurich Insurance replaced its outdated Lotus Notes system with low-code applications, saving £700,000 through faster development and fewer resource needs [8].

• The Development Bank of Canada launched a new core lending system in just eight months using a low-code platform. Traditional methods had estimated the project would take 2.5 years [9].

Creating Custom User Experiences

As financial institutions modernize, offering personalized services becomes essential for staying competitive. Rabobank IDC highlights this with a customer-facing savings portal serving over 500,000 users in Germany and Belgium [7].

"We decided to use Mendix in all areas where speed and agility are essential. We initially focused on three customer-facing areas: the mobile app, the client onboarding process, and the entire online banking platform." - Paul Kammerer, Head of Business Development & Strategy, Rabobank IDC [7]

Financial Services Applications

AI-powered low-code platforms are reshaping financial services by introducing practical tools that streamline daily operations. These tools bring the benefits of automation and efficiency into core financial processes.

Digital Account Opening and KYC

Low-code platforms with AI capabilities simplify customer onboarding by automating Know Your Customer (KYC) processes. They combine document verification, identity checks, and risk assessments into a single, streamlined workflow. For instance, Regions Bank implemented a cloud-based document management system [1] that includes:

These systems not only simplify onboarding but also enhance security protocols, ensuring a smoother and safer experience for both institutions and clients.

Financial Crime Prevention

AI is becoming a cornerstone of compliance and security in financial services. Nearly 25% of financial institutions actively use AI-based tools [10]. The International Monetary Fund predicts that AI spending in this sector will double by 2027 [10], enabling advancements such as:

• Real-time fraud detection

• Money laundering prevention

• Automated compliance reporting

• Identification of risk patterns

These capabilities help financial institutions stay ahead of evolving threats while maintaining regulatory compliance.

Loan Processing Systems

AI is also transforming loan processing workflows. For example, Coast2Coast Mortgage leverages tools like:

• QuickBooks API for managing invoices

• Arive Loan Origination Platform for seamless integration

• Automated systems for sales reporting [1]

The adoption of AI in financial services is set to grow from 45% in 2022 to 85% by 2025, with 60% of institutions planning to use AI across multiple areas of their business [11]. This shift reflects the industry's focus on agility and efficiency.

Financial Advisory Tools

AI-powered advisory platforms are enhancing client services by offering personalized financial guidance and portfolio management. These platforms analyze financial data to provide tailored recommendations while ensuring regulatory compliance. Key features include:

One major challenge for financial institutions is data integrity - 49% cite it as their top technical issue [10]. By automating data validation and processing, AI-powered tools ensure accurate insights while reducing operational burdens. These capabilities are driving a comprehensive transformation in financial advisory services.

Conclusion: Partner with Deployd

AI-powered low-code platforms are reshaping financial services, making them more agile and efficient. This shift helps institutions achieve growth and stay ahead in a competitive market.

Deployd brings together technical expertise and in-depth industry knowledge to deliver real value. Here's how:

This approach effectively addresses digital transformation challenges while delivering practical, measurable solutions. Financial institutions face unique complexities, and Deployd offers the right combination of technology and industry insight to meet those needs.

Whether it's automated KYC, fraud detection, or tailored advisory tools, our team ensures every solution is aligned with your goals. We help organizations fast-track their digital projects while staying focused on their core business priorities.

Work with Deployd to turn potential into efficient, actionable results.

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• Staying competitive in 2025 as a Financial Services Org amidst AI & Low-Code

• Scaling FinTech Innovation Through Low-Code and AI Technologies