As traditional banks face increasing pressure to modernize, many are turning to No-Code and Low-Code (NCLC) technologies to accelerate digital transformation. Legacy core systems, compliance-heavy operations, and rising customer expectations make it difficult for banks to stay agile using conventional development approaches. NCLC platforms empower banks to build, deploy, and scale applications faster with minimal coding enabling them to streamline processes like account opening, loan origination, customer onboarding, and internal workflows. Here are five startups leading the charge in helping financial institutions modernize through innovative NCLC solutions.
1. Decimal Technologies
Decimal Technologies is a leading No-Code Low code provider, enabling enterprises to build cutting-edge solutions on its proprietary no-code platform, Vahana Cloud. The platform has already transformed the way top banks & financial institutions in India approach their mission-critical applications whether external (DIY, Assisted) or internal. It is a comprehensive full-stack platform, meticulously crafted with a Mobile First approach. This unique platform empowers non-coders to effortlessly configure (not develop) native mobile applications that deliver a seamless user experience across iOS, Android, and Web (PWA) platforms. Decimal Technologies has 8 out of top 10 Indian Private banks and 26+ enterprises as its clients. A wide variety of use cases like – Video Banking, Account Opening, Loan Origination systems, Lead management systems among other solutions have been built for its clients. Decimal brings with it industry experience and expertise along with a much-reduced time to market for any of the solutions.
2. Clappia
Clappia is another strong contender in the no-code space, backed by industry veterans with a proven track record. Their platform empowers users to create robust applications without coding, catering to a wide range of businesses. Clappia’s focus on simplicity and user-friendliness makes it accessible to non-technical users, allowing them to build custom solutions tailored to their specific needs. Clappia excels in data management and visualization, offering features like data modeling, reporting, and dashboards. It also provides a collaborative environment for teams to work together on app development.
3. Zoho Creator
Zoho Creator is a powerful low-code app development platform that enables businesses of all sizes to consolidate all their business intelligence needs, workflow automation, and data management in one single place. It provides a myriad of low-code benefits such as accelerated development, simplified automation, seamless integration, top-notch security, contextual scalability, and so on – all these with minimal coding and drastically reduced time.
Some of the top brands that use this platform are Amazon, Marriott International, Suzuki, Whirlpool, and Warner Music Group. According to Nucleus Research, Zoho Creator is the 2020 leader in the Low-Code Application Platforms (LCAP) Technology Value Matrix. So, if you’re planning to build a rewarding low-code app, this platform must be on your checklist.
4. GeneXus
GeneXus is a low code, pioneering company that harnesses in-depth research to develop cutting-edge proprietary technology across database design, application development, maintenance, and automatic knowledge management, laying the groundwork for the Low-Code software development movement. It’s the first intelligent tool for automatically creating, developing and maintaining mission-critical, multi-platform applications that can be easily adapted to changes in the business and to the new possibilities opened by the evolution of technology.
Furthermore, GeneXus conceals the actual difficulty of developing advanced user interfaces and enterprise apps in a constantly changing technological environment.
5. Acies
Acies is focused on democratizing technology through its no-code platform. Acies Consulting focuses on delivering cutting-edge technology-enabled risk, regulatory and business transformation initiatives. Acies LightHouse helps clients bridge the technology and financial literacy gap as tech stacks evolve rapidly. Acies Ventures’ unique Ventures-Revolution program partners with startups and entrepreneurs by providing them with Acies’ no-code platform to build innovative solutions and business models. Acies aims to make its no-code platform widely available to businesses, entrepreneurs, creators and end-users to help build a democratized ecosystem where access to technology is not constrained by coding, technology knowledge or capital.
Conclusion
The banking sector is quickly moving towards digital-first approaches, and legacy banks are forced to innovate or be left behind. No-Code and Low-Code platforms provide a strong, scalable solution for banks to transform their systems, minimize reliance on legacy technology, and address changing customer demands. The five startups showcased here—Decimal Technologies, Clappia, Zoho Creator, GeneXus, and Acies—are at the forefront of this change by making it possible for banks to create innovative, agile, and secure solutions without the overhead of full-fledged coding. With the need for speedier development cycles and more customized workflows increasing by the day, these platforms will have a crucial role to play in determining the future of banking.
