Financial institutions are under increasing pressure to meet rising consumer expectations for digital experiences, optimize internal processes for maximum efficiency, and fend off the digital disruptors.
To address these demands, many companies have launched specialized innovation teams to develop fresh solutions and new ideas that address business and operational needs with the latest emerging technologies. Innovation teams, however, face three common challenges that mitigate efficiency, organizational impact, and time-to-market:
- Complex ecosystems of third-party technology solutions and internal legacy platforms, which require significant effort to integrate, coordinate, and leverage
- Unstructured sourcing and prioritization of the best innovation ideas from across the firm
- Extensive networks of stakeholders across the business (including influencers, internal & external partners, and collaborators) that complicate the delivery of innovation initiatives
Innovation teams across some of the world’s leading financial institutions have tapped into the power of Unqork’s unique no-code application platform to address and resolve these issues via:
- Rapid innovation prototyping, so enterprises can quickly develop functional prototypes that can bring innovation to life to improve collaboration and accelerate time-to-market.
- An innovation pipeline platform that methodically optimizes pipelines of innovation to efficiently vet, evaluate, select, and track the performance of innovation ideas and projects in a way that is customized to your firm’s needs.
- Management platforms & systems to streamline administrative needs (e.g., people/partner management, intake, systems provisioning, etc.) and drive innovation.
This ebook will explore how Unqork empowers innovation teams to maximize their productivity and accelerate time-to-market and time-to-value.
Rapid Innovation Prototyping
Unqork can help your team accelerate the production of a functioning prototype, which can be shared with key stakeholders early in the process to ensure projects meet business requirements before committing to a significant investment in time and resources.
The ability to translate ideated solutions to a tangible working application is often easier said than done. To incorporate new technologies, firms must ensure that they “play nice” with the rest of your ecosystem (consisting of internal and external platforms), which adds time and expense to solution build-outs.
Unqork’s no-code platform enables innovation teams to design, configure, and orchestrate fully functional solutions based on new technologies, reducing time-to-market by up to 3x. This acceleration is made possible by leveraging our unified front-to-back platform and visual configuration capabilities:
Since all of these components are part of the same unified platform, everything works together in instant harmony. As a result, innovation teams can devote all their resources to addressing business challenges instead of technical ones, ultimately resulting in significantly faster prototyping and solution development. Compared to a conventional code-based approach to development, working versions can be built comparatively quickly and with little risk. Business users can provide feedback based on these prototypes or, with a little bit of training, directly participate in the development process to iterate the process themselves.
By eliminating the need to write code from the building process, no-code also expands the scope of who is doing the development. In a no-code platform, users (or “Creators'' as we refer to them at Unqork) build applications by drag-and-dropping configurable elements representing both user-facing features and back-end application logic. While modern programming languages (Java, Python, etc.) can take a year to learn and a decade to master, no-code can usually be learned in weeks, making development more collaborative and recruiting more flexible.
Once all stakeholders and gatekeepers are on board, prototypes can even be quickly launched into production with our enterprise-grade platform, eliminating the need to re-architect or re-build solutions to be production-ready.
A leading brokerage & investment firm delivered a fully digital instant credit card issuance prototype in only 4 days
A leading investment firm sought to develop an end-to-end credit card onboarding platform that automates the journey from application to approval in one centralized client-facing hub. Using Unqork’s platform, the firm accelerated the development of a custom enterprise-grade card-issuance solution, which included 5 live integrations from Unqork’s growing community of technology partners, including Plaid, Twilio, and Google Maps. The firm developed a custom branded working prototype in just 4 days using only 2 workers to build out a highly automated workflow for the entirety of the customer journey.