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At the Digital Transformation Week conference in Amsterdam this September, Lakshmi Ramasubramanian, senior business analyst at HSBC, presented the advantages and disadvantages of using low-code software tools to develop applications in financial services.
As part of the global transformation team within the real asset and structured finance business, Ramasubramanian is tasked with investigating digital tools that might be needed by the company, and the use of low-code tools to develop management applications is one of her areas of focus.
Low-code software development promises a fast way to develop applications by someone with very few technical skills. Applications can be written with very little code, and the aim is to keep coding effort minimal, making the end-to-end software development lifecycle simpler and quicker.
No-code takes the idea even further, enabling people to build applications without having to write any code at all. The aim is to build applications using drag-and-drop in a feature-rich developer interface.
The ideas of low-code and no-code are not new – but they have taken on different forms over the years. In the 1980s, for example, software tool suppliers allowed less technical people to draw the design of an application using boxes for different modules and directed lines to show the exchange of data between modules. The software tool would then take the graphic design and generate a skeleton application.
Also in the 1980s, a new breed of programming languages, called 4G languages, were developed to help non-coders develop applications to access relational databases using a language that was easier for humans to understand than traditional development languages, such as C or Pascal.
In both cases – using box diagrams to generate a skeleton program and using higher-level languages for business users – the tools solved some problems. Programmers are expensive, and in cases where businesses didn’t need highly…
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