State of Low-Code in Financial Services and Insurance

This report provides a detailed examination of the current state of low-code technology within the financial services and insurance industries. It outlines the increasing demand for low-code solutions as business and development teams seek to enhance software capabilities amidst a shortage of developer talent. The report discusses the unique challenges faced by these sectors, including the need for rapid software delivery and heightened security concerns. It highlights the different adoption rates and strategies employed by financial services and insurance firms, noting that financial services are leveraging low-code for innovation and citizen development, while insurance firms focus on efficiency for professional developers. Additionally, the report identifies potential pitfalls, such as the lack of strategic planning and integration issues with legacy systems that could hinder low-code modernization efforts. Overall, the document serves as a guide for decision-making regarding low-code adoption in these industries.