Benefits of a Low-code Application Platform in Financial Services
Last updated: 4th September 2025
First published: 13th January 2025
Amid the rise of challenger banks like Monzo and Revolut, traditional financial services institutions have never been under more pressure to deliver the innovative and personalised service conferred by digital transformation. The banking sector could stand to gain $1 trillion a year from artificial intelligence and machine learning alone. However, many institutions struggle with how to achieve results. A low-code application platform not only offers an accessible conduit to digital transformation, but it also comes with a host of other benefits.
Read on to learn some of the top benefits financial services gain from low-code.
What is low-code in financial services?
A low-code application platform for the financial services industry refers to software that uses a drag-and-drop interface to allow individuals to create and develop new applications without needing an extensive background in coding. Technology, like Liberty Create, makes low-code in financial services more accessible and allows individuals from all backgrounds to have a role in their organisation’s digital transformation.
Benefit of low-code in banking and financial services
1. Faster in-house development
One of the primary benefits of low-code software in banking and financial services is the ability to develop full-stack applications three to 10 times faster than with standard development. Low-code makes it possible for business users to develop beyond core function with oversight from IT, increasing developer capability and expediting app development from months to just days, in some cases.
This enables financial services to accelerate digital initiatives despite acute shortages of skilled developers. The ease of making changes to low-code applications — and the ability to rapidly develop solutions — creates the organisational resilience and agility the financial sector needs for long-term success.
Low-code applications combine well with robotic process automation software, making integration possible even where legacy applications have proved challenging. This unlocks greater opportunities for automation at scale and improves the customer experience, leading to greater returns and efficiencies.
2. Meet changing customer demands
Our use of technology is rapidly evolving, with an emerging generation of consumers reshaping expectations around digital access to products and services. In this environment, financial services organisations can’t afford to fall short of demands for digital.
Low-code applications provide the capability to build, extend and adapt digital services for consumers. Among the key benefits of low-code for financial services is the ability to rapidly develop solutions such as proactive notifications that keep customers abreast of account activities and give them the capability to manage their accounts in real-time. Customer engagement is improved as financial institutions interact with customers within the channel of their choice, without disrupting the customer journey.
3. Reduce errors
Legacy systems and technology, often struggle to keep up with the pace of change in financial services, making it difficult to support evolving products and services. As a result, employees are forced to bridge the gap between disconnected applications, often relying on spreadsheets and repetitive data entry, which are both time-consuming and susceptible to error.
However, the intelligent automation capabilities of low-code development and robotic process automation ease this burden on employees. By automating routine tasks and integrating systems more effectively, low-code platforms help minimise human error, improve accuracy and free employees to focus on higher-value work.
4. Improve employee productivity
A benefit of using low-code in financial services is that manual paper-based processes are moved online, giving thousands of hours back to employees. Human-in-the-loop features enable employees to intervene when necessary, ensuring that automations are producing the intended outcomes and that governance is maintained. Applications can be built to accommodate robust compliance and security measures, protecting consumers and employees.
By easing the load on employees, low-code software helps them to be more creative, offer better customer support and devote more time to value-adding tasks.
5. Acceleration of innovative solutions and digital transformation
Faster development of applications through low-code also supports innovation within the financial services industry because the speed, cost-effectiveness and ease of it allow for repeated iterations. This means businesses can trial new automations and make immediate adjustments to accommodate rapid changes and unstable market conditions.
Low-code gives business users within the financial services industry the ability to contribute to their organisation’s digital transformation. This is advantageous as business users have a different perspective from IT teams. They’re involved in the day-to-day running of things, so they’re going to be well-positioned to suggest processes that would most benefit from being reimagined through low code.
Low-code development allows these digital solutions to be tested and tweaked until they are optimised. Even once they have been deployed, the ease of making adjustments encourages innovations, allowing applications to be continually amended to foster more productivity.
Low-code applications reflect the imagination and creativity of employees. If they can imagine a solution, they can create it – and the right low-code application platform gives them the resources they need for this.
6. Easy integration with existing systems and new ones that emerge
When it comes to digital transformation, many financial services organisations struggle with their legacy systems. Extending, adapting or changing the function of legacy technology can be expensive, time-consuming and fraught with risk. Low-code’s ability to work around this issue has made it popular within the sector.
Low-code applications and robotic process automation software provide the capability to create new functions and applications that integrate, unify and extend legacy systems. Most significantly, this can be achieved without making changes to the underlying system. With this approach, data silos are broken down, creating a single view of processes and single point of access to data, enabling seamless customer and user journeys. This is all accomplished faster, more efficiently and without risk, presenting huge opportunities for financial services institutions.
7. Actionable data insights
By eliminating data silos through low-code, employees have access to the right information when they need it. They have a comprehensive view of a client’s contextual information and previous interactions with the organisation.
When a low-code application platform with artificial intelligence and machine learning features is adopted, decision-making capabilities are unearthed, producing rich insights that inform more strategic decision-making, drive productivity, save costs and generate growth.
Unlock the power of low-code software for financial services with Liberty Create
An approach to digital transformation that incorporates low-code application development software and robotic process automation will increase productivity, reduce expenses and generate operational efficiency to help financial services organisations achieve excellence. Agile, iterative development capabilities expand their ability to rapidly streamline customer and user experiences. The businesses that commit to this approach are going to be best positioned for fast returns on investment and long-term competitiveness.
For those who have yet to start, it presents an opportunity to start small and scale fast.
For others who are further along in their transformation journey, it provides the opportunity to accelerate their efforts and avoid costly missteps thanks to inherent agility.
The Liberty platform is an AI-powered platform featuring low-code and robotic process automation solutions, helping you get to where you need to be on your digital transformation journey, faster.