This TCS white paper outlines how low-code/no-code platforms offer BFSI firms a competitive edge by enabling rapid, cost-effective application development. These platforms simplify integration with legacy systems, accelerate time-to-market, reduce IT backlog, and lower dependence on specialized coding skills. Ideal for customer-facing apps, onboarding, loan management, and campaign automation, they support AI/ML integration and API-based ecosystem banking. Despite some limitations like vendor lock-in and customization constraints, the benefits—speed, scalability, and flexibility—make them a strategic fit for digital transformation in banking and insurance.

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