Throughout the fourth industrial revolution, we’ve been hearing how digital technologies will make our work lives easier with speed, automation, and efficiency. Silicon Valley stepped up to capitalize on the opportunity with entrepreneurs launching thousands of SaaS solutions and applications.

User-friendly technology has always been a premium in the investment industry, enabling analysts, accountants, risk teams, and portfolio managers to work smarter and more efficiently. Now, the development process itself is becoming further democratized with low-code/no-code tools and generative AI (GenAI), which, when paired with LCNC platforms, can help firms align software development with their business goals.

Firms deploying intuitive, customizable tools that understand user workflows are positioning themselves to solve unique business problems and foster a culture of innovation. Empowering business users requires software applications to work exactly the way the user needs. The challenge lies in ensuring technology is both sophisticated and genuinely user-friendly.

READ OUR EBOOK: Discover How Modern Data Platforms Empower Private Market Firms

What’s driving the growth of low-code/no-code in financial services?

In a 2023 Forrester survey, 37% of developers in financial services and insurance voiced the need to empower departmental IT with LCNC apps while 54% of pro developers in financial services said their firm has or is working on a citizen developer strategy. And that was in 2023.

A December 2024 research study found that low code is being used in the financial services sector more than any other industry and specifically to develop customer-facing applications, enhance process automation, and strengthen regulatory compliance through quick modifications. Yet, research from Private Equity Wire based on a survey of 100+ private market fund managers found that 54% of respondents still view data management in their day-to-day operations as “a work in progress” or “lacking.”