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MVP, or minimum viable product development, refers to creating apps and features for early use by customers and employees. This allows you to test the product and prepare updates based on real user feedback… while placing them on the market faster. In this article, we look at the role of low-code and no-code platforms in this process and how they can help you develop MVPs. We invite you to read on!
Table of Contents
- MVP Development Services Explained
- Building an MVP with Low-Code and No-Code Technology
- The Benefits of Low-Code and No-Code MVP Development
- The Takeaway
MVP Development Services Explained
MVP development services are focused on creating a product with just enough features that it could be launched to early users. Thanks to this, you get to test the app, see whether it can achieve success and what course of action you should take in future updates.
What are the benefits? If you develop an MVP in your company, you can launch your product faster and spend your money more wisely, learning exactly what to invest in. Therefore, it is quite a popular approach… but what if we told you that you can take it even further and develop MVPs with your banking experts using low-code technology?
Building an MVP with Low-Code and No-Code Technology
Low-code and no-code technologies can also be leveraged for MVP development, as they have everything you need to create the first version of your app. Moreover, they have a major advantage over traditional app development—they engage your citizen developers.
By using no-code and low-code platforms, you can let your experts cooperate: experienced customer consultants, financial advisors, wealth managers, or team leaders, prepare the first version of your app (whether created for clients or when increasing productivity internally). While such platforms might not have the highest flexibility when it comes to visual designs, they can be operated by anyone—you can use the knowledge of your team members to create apps that truly meet the needs of their users.
Learn more about our digital process automation services and discover how we use no-code and low-code platforms for the benefit of banks and other businesses in the finance industry!
The Benefits of Low-Code and No-Code MVP Development
Why should you opt for low-code or no-code MVP development? Because this has multiple benefits! What are they? Take a look below.
Faster Time to Market
Whether the app is designed by a citizen developer or a pro, with no-code and low-code techs, its development will be faster. Essentially, this means that you can go live with your app more quickly. This, on the other hand, is crucial for outrunning your competitors or testing new solutions (for instance, when there is a short deadline to accept the budget).
Expert Designs
With such technologies, your app can be designed without the middleman—the pro developer. This means that the final result will be closer to the concept and that the features will reflect the users’ needs more closely.
Reduced Costs
It’s a fact—low-code and no-code MVP development is significantly less expensive than the traditional methods. After all, you either don’t need a team of professional developers, or they will spend less time working on the app, so you get to pay less.
The Takeaway
As you can see, low-code and no-code MVP development may be the best solution for finance organisations to keep up with the changing regulations, market trends and customer expectations. It’s less expensive, faster and better—it’s the method you should embrace!
You might also read: Trends in Digital Banking and the Future of Banking
