Taking a strategic approach to software architecture is a priority for 2022 and financial firms are re-evaluating and modernizing their underlying architecture. Digital transformation projects lean hard on IT teams – and developers have become increasingly stretched. Consequently, they have limited availability to undertake critical and time-sensitive tactical development work to knit together legacy systems and new applications, or to create add-on code to enhance legacy systems.
As a result, the business is experiencing far longer lead times before necessary development work can be completed. A pragmatic solution is to empower developers with technology that can accelerate their own capabilities. One such approach is to use low-code technology components, which can be assembled by developers to rapidly build applications using standardized features, allowing them time to focus on proprietary components that have high business value.