- Increasing attrition/turnover rates in engineering due to increased demand
- Limited hiring pipeline
- Long hiring processes
- Onboarding new hires and cold start penalty
The pain points around hiring engineering talent have also led to faster adoption of no-code tools globally across multiple industries. According to finextra.com, the Fintech industry is a good example where non-programmer employees can build and manage software applications without any coding knowledge. Forrester predicts that the no-code market will grow to $21.2 billion in 2022. That’s around 600% growth in a five-year period.
Fintech startups benefit from no-code tooling in various ways:
- Eliminate the dependency on engineering teams for each and every change.
- Increase agility and efficiency in operations.
- Decrease human errors due to better-controlled, user-friendly software.
- Enable hiring from a larger talent pool for lower cost as coding skills aren’t required.
- Give direct control to operational teams and eliminate communication overhead.
- Enable innovation by bringing the operational teams closer to technology and direct decision-making.
How Flagright can help
AML compliance technology is one of the areas that’s been ignored for a long time. Most financial institutions such as neobanks and fintechs still build these solutions in-house as a lesser evil instead of buying one of the suboptimal, costly enterprise solutions available. Flagright provides a compliance-as-a-service platform for fintechs and neobanks with no upfront fees and a transparent pay-as-you-go model.
The solution includes dynamic risk scoring, real-time transaction monitoring, KYC/KYB orchestration, sanctions screening, advisory services, fintech licensing, and blockchain analysis. All no-code, all real-time. Everything can be configured in real-time on the Flagright Console back office portal for an unlimited number of users.
Drop us a message to learn more here.