No-code platforms vs Traditional method of coding Interaction with Mr. Muzammil Patel – ACIES

No-code platforms vs Traditional method of coding Interaction with Mr. Muzammil Patel - ACIES 1

At Acies, we are focused on democratizing technology through our no-code platform Revolutio’. Our business is divided into four divisions, each focused on the same mission of democratizing technology.

Acies TechWorks creates software and applications using Revolutio. Acies TechWorks software cover a number of applications in the areas of risk management, treasury, finance, and operations. Our product families Antares, Kepler, Kore, and Callisto are used by a number of large financial institutions around the world.

Acies Consulting works closely with clients using our proprietary and third-party technology solutions to enhance value from business and solve real business problems. Our Consulting division is backed by professionals with decades of experience in providing consulting and technology solutions to large enterprises.

Acies LightHouse is focused on enhancing financial and technology literacy and furthering our mission of democratizing technology through education. Acies LightHouse helps handhold adoption of advanced technologies including no-code through instructor-led and self-paced learning courses.

Acies Ventures is focused on helping start-ups and entrepreneurs build new businesses using our no-code technology through the Ventures-Revolutio program. Acies Ventures also provides capital and incubation support to early-stage start-ups.

Role of No-code platforms play in the banking & financial sector?

No-code platforms are increasingly becoming the go-to approach for building new applications. Budgetary allocations towards bespoke development are fast being replaced by investment in no-code platforms.

No-code platforms today are helping build the customer and employee engagement layer in banks and financial institutions. No-code platforms are also being extensively used for workflow automation, productivity enhancement and monitoring. No-code platforms with high-end compute capabilities are starting to make the traditional notion of data warehouse and reporting redundant and are enabling low-latency self-service analytics. It is expected that, over the next few years, core transaction systems and vendor software will get replaced or augmented by no-code platforms.

How will No-Code disrupt the start-up & the enterprise space?

No-code platforms will enable start-ups to launch and bring their products to market at lightning speed. This will dramatically reduce IT and operational costs and will enable movement from proof of concept to marketable products within weeks. No-code platforms remove any handicaps associated with lack of technology know-how, architecting and development. This will spur a new start-up revolution where concepts are brought to market within days.

For the enterprise space that has traditionally been heavily invested in high-cost legacy infrastructure, no-code poses a serious challenge if not adopted quickly. Start-ups will be able to mimic and then build superior technology at one-third the cost that enterprises incur. This will allow start-ups to cause serious dents in the core business model of traditional enterprises especially in the financial services and more generally services industries.

What are the challenges faced by the entities transitioning to a no-code platform?

The biggest challenge in transitioning to no-code platforms is culture. Traditional mindsets and legacy setups geared towards a typical software development lifecycle try to retrofit no-code development to long development lifecycles. This prevents enterprises from realizing value from speed of no-code development.

The other major challenge faced by organizations is the availability, and to some extent, dependence on quality business analysts to translate business requirements into the no-code platform. This is expected to become less of a challenge over time as no-code platforms respond more to natural language than the current format of using screen-based symbols and navigation.

What are the benefits of No-Code platforms?

No-code platforms reduce software development time to weeks from the current months or sometimes years. They also reduce cost of system development and maintenance, measured by total cost of ownership (TCO), to one-third.

No-code platforms reduce time to market and allow for exact business ideas to be converted into scalable software at lightning speed.

No-code platforms will totally replace the traditional method of coding?

No-code platforms will at some point in the next five (5) years inevitably replace almost all traditional coding. It is a logical evolution from coding without frameworks to using bounded framework to extensively using pre-built libraries to eventually eliminating the need for coding entirely.

No-code platforms are still at an early stage and are expected to evolve to respond to natural language and eventually move into autonomous application development.

What are your business plans for this year?

We are focused on four major areas during this year:

  • Improving the end-user experience of our no-code platform to reduce the dependence on business analysts in the no-code development process and beginning the transition to natural language driven no-code development
  • Truly democratize no-code and build a creator economy by allowing absolutely anyone to login and start building applications that they can create and monetize through our marketplace or by directly selling to their audience
  • Create more applications on Revolutio that are available in a software as a service offering format to demonstrate further how easy it is to build on Revolutio
  • Partner with more start-ups and entrepreneurs to enable them to use Revolutio to actualize their vision

We see unlimited potential in no-code development. We are looking to actualize this potential more and more through partnerships and democratized access of our platform to everyone. This is a major shift from our traditional business model of being enterprise B2B focused.

Few words about Techiexpert?

I believe Techiexpert is a nice avenue and an emerging one-stop-shop for technology enthusiasts to stay in touch with relevant news and perspective on today’s technology topics and developments. ‘

Written by Srikanth

Passionate Tech Blogger on Emerging Technologies, which brings revolutionary changes to the People life.., Interested to explore latest Gadgets, Saas Programs

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