Veritran is a low-code platform for banks and financial institutions that is at the center of enabling digital applications, delivering mobile apps and digital wallets for financial organizations of all sizes, including six of the top banks in Latin America and a new Puerto Rico-based client, Italbank. Low-code platforms serve as an accelerator to create applications with a faster time-to-market, while providing the same functionality, integrations and security that traditional development methods offer. Low-code adds value across the enterprise, helping push forward digital transformation initiatives and enabling the rapid creation of digital solutions – which is more important than ever now, at a time when digital-first is the new way of life and it is necessary for organizations to have online touchpoints with consumers.
Low-code platforms are designed to be very easily implemented and often have a simple drag-and-drop approach, where anyone from professional developers to nonprogrammers citizen developers can start off with a fully functional template and add in applications and features, arranging and customizing them as needed. Veritran offers a variety of pre-built solutions that run on top of our low-code platform, including a scalable digital wallet, a POS manager, a digital customer onboarding solution, centralized omnichannel dashboards for retail banking, as well as payroll, FX trading, cash management solutions and more for business banking. In terms of the wider financial industry the shift to digital is here to stay; although bank branches won’t completely disappear, it seems likely that digital methods will continue to be the priority moving forward. Furthermore, post-pandemic digital will have a variety of predominant financial formats and experiences, including 100% digital banking and mobile wallets, as well as increasingly integrated emerging technologies from artificial intelligence to blockchain. As traditional banks continue to undergo digital transformation, I expect that they will begin partnering more with fintechs and challenger banks when possible, to help bring new features and a superior UX to their customers.