KPMG released the "Top Ten Trends of Fintech in 2022", and Tencent Cloud Micro and Low Code were selected

Co-organized by Tencent Financial Research Institute, Tencent Cloud and KPMG, the "Digital and Real Coexistence 2022 Top Ten Trends of Fintech Trends Prospect Report Conference" was held online on March 29. At this press conference, a number of senior leaders of Tencent and KPMG China will attend and deliver keynote speeches; industry experts will deeply interpret the report "Top Ten Trends in Fintech in 2022" and discuss with a number of industry experts and leaders in the roundtable session. The new concept, new plan and new pattern of fintech in 2022.

According to the report, the improvement of low-code service capabilities in the financial industry is one of the important trends.

Trend: Low-code development enhances agile service capabilities in the financial industry

1. Introduction to Trends

With the development of financial digitalization, financial technology is showing a booming trend. With the continuous emergence of more and more emerging technologies, a large number of software writing and code development work have put forward higher requirements for scientific and technological talents in the financial field. In order to reduce the learning difficulty and entry barriers of many technologies in the financial field, and improve the ability of agile services in the financial industry, the low-code development platform simplifies the tedious and professional coding process, providing a "fast track" for technological progress and application in the financial field.

A low-code development platform (LCDP) is a development platform that can quickly generate applications with a small amount of code. A visual approach to application development enables developers of different experience levels to create web and mobile applications using drag-and-drop components and model-driven logic through a graphical user interface.

With the wide application of low-code technology, in the future, the low-code platform will provide a new workflow for financial technicians, that is, non-professional developers can be quickly hired after simple basic IT training, which can fully mobilize and utilize the existing enterprise It can also greatly reduce the resource dependence on expensive professional developers, and promote the rapid implementation of various projects in the financial field.

2. Technical characteristics

At present, there are mainly two types of enterprise service models for low-code enterprises, namely, integrated service providers and multi-terminal platform providers.

The integrated service provider model is mainly to build a low-code platform on cloud services to generate a cloud environment. The low-code platform is connected with the self-developed CRM and other platforms to realize the low-code development of office and other software; it is connected with the self-developed development platform to realize the software development platform formed by the low-code platform. In summary, the low-code platform and the cloud environment, office software, and software development platform derived from the docking together form a product portfolio, which is provided to enterprises and individual end users.

Multi-end platform providers adopt a product structure that combines self-developed low-code platforms and external low-code platforms, allowing external low-code platforms such as external SaaS companies, ISV companies, and individual developers to combine with internal low-code platforms to realize a multi-end platform provider structure. The combined architecture is built on the cloud service, which is convenient for enterprise users and individual users to access and use.

※ Source: Tencent Cloud, Tencent Financial Research Institute

3. Application scenarios

As a simplified development platform, the main benefit of low-code development is cost and time savings compared to traditional application development, which allows businesses to deliver certain products and features faster and more cost-effectively, This facilitates the development of technologies in many industries such as manufacturing, finance and retail.

In the financial field, low-code development platforms help the digital transformation of the financial industry. Low-code promotes the rapid development of emerging fintech technologies with its powerful combination ability. In the future, as the component richness of the low-code development platform gradually increases, the capabilities of the platform and the application functions it can support will also be further improved. This will help the effective collaboration of different scenarios in the financial field and jointly cope with the changing and complex external environment. For example, the integration of cloud native, microservice architecture, etc. with low-code development can significantly improve development efficiency. Architectural capabilities of microservices

Rapid integration with low-code development can quickly improve the development and service capabilities of cloud-native architectures. Another example is the integration of low-code development platforms with cloud computing and other technologies, which greatly improves the level of personalized service of financial institutions, and realizes the smooth progress of smart services, robo-advisors, smart consulting, and voice recognition.

4. Planning suggestions

For the enterprise side, on the one hand, accelerate the integration and development of low-code technology and other technologies, and realize the role of low-code in promoting and promoting other new technologies. On the other hand, vigorously promote the promotion and popularization of low-code platforms in the business scope, lower the threshold for software writing, and promote the rapid development of digitalization in the financial field.

For regulators, the low-code platform as a development platform involves a wide range, and it is necessary to jointly propose standard recommendations and regulatory solutions with different parties and departments.

Case: Low-code development helps to quickly build a financial service platform

1. Dismantling of needs

A large domestic commercial bank needs to serve a large number of customers in different fields in the process of financial digitization. Therefore, the establishment of a comprehensive financial service platform has become a necessary means. In the process of establishing the financial service platform, the bank has the following requirements.

First, structured program requirements. The bank's unified business platform required precise business descriptions and fast business delivery. In the face of the rapidly changing and content-rich application requirements of the financial industry, structured solutions are an important method to efficiently unify business requirements and technical solutions.

Second, the combination of low-code platforms in multiple fields. For the various business forms of financial institutions, a general low-code development platform cannot support all enterprise-level needs. In different business fields such as products, services, and operations, it is necessary to realize the combination and personalization of low-code platforms.

Third, open integrated architecture requirements. The architecture of the low-code platform needs to help financial institutions ensure interconnection at all levels, realize the integrated architecture requirements of portals, processes, data, and services, and facilitate multi-party collaboration and business innovation in different financial institutions or business fields.

2. Implementation of the plan

The bank's digital pocket is a comprehensive financial service platform for small, medium and micro enterprises, and jointly explores industry solutions for small and micro enterprises with Weida. Based on the micro-build base, it provides financial services such as loan financing, payment settlement, insurance and other scenarios for enterprises, employees, and small program users, and helps small and micro enterprises in the e-commerce and wholesale and retail industries to operate.

Specifically, Weida connects business components through customer precipitation, technology or security, and user operations, and builds from the perspective of three major business systems and corresponding technical capabilities.

The three major business systems mainly refer to the organizational structure system, the role authority system and the message reminder system, which enable no/low-code platform applications.

Technical capabilities are mainly composed of main capabilities such as technical architecture, six no/low-code engine drivers, extension plug-ins, and open platforms. Different capabilities cooperate with each other and are mainly used to serve enterprises to improve efficiency. The technical architecture is divided into the front section, the application service layer and the data service layer, which are mainly used for the technical support of the low-code platform. The six engine drivers refer to portal engine, form engine, process engine, automatic engine, report engine and database engine, which help banks better achieve synergy between different business process segments. Extension plug-ins are composed of scene plug-ins, industry-specific plug-ins, and business plug-ins, which are designed to meet the normal use between different industries, different businesses, and different application scenarios. The open platform can be connected with other business systems and plug-ins, which ensures the scalability of the bank's comprehensive financial service platform.

※ Source: Tencent Cloud, Tencent Financial Research Institute

The combination of the WeChat e-commerce mini-program and the bank's customized financial services has helped the digital operation of small, medium and micro enterprises. Low-code brings about a significant reduction in the amount of coding, which can meet business diversification and personalization, and greatly improve development efficiency. For example, Weida cooperated with the bank to realize the rapid development of a brand application with a financial applet, which was launched in 2 weeks.