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Burnt Out? Try This No-Code Workflow in Your Financial Services Business

Stefanie Jansen |
August 24, 2021
Min Read

Any extra time you’re spending manually performing financial services tasks is already too much. In the old days, things like filling out paper forms, helping customers troubleshoot applications, and generating new agreements were just industry givens. But finserv has changed, and finance workflow processes are making things more automated, saving institutions money and time — to the tune of 14 hours per week. 

The concept of automation is certainly not new, but getting it set up at your organization can be a battle all its own. And bothering IT or waiting months in their queue to get your project off the ground just isn’t feasible. That’s why no-code workflows are so powerful. 

Just Say No (Code)

Perhaps you’ve heard of no-code, but still aren’t sure what it is or how it can revolutionize your team. That’s ok — our latest research reveals 82% of people are unfamiliar with the term. But it’s time to get acquainted.

No-code is a type of software development that allows anyone to create digital applications without writing a single line of code. It involves using tools with an intuitive drag-and-drop interface to create a unique solution to a problem. The resulting solution can take many forms—from building mobile, voice, or ecommerce apps and websites to automating any number of tasks or processes.

Best of all, no-code technology has specific applications in financial services. From creating online loan applications and securely collecting personal information to building paperless customer processes and automating contract creation, no-code makes it extremely quick and easy to develop finance workflow process solutions to your most difficult problems. More than that, no-code can increase your team’s efficiency and even benefit other departments across the organization by:

  1. Minimizing reliance on IT. No need to rely on IT to build, test, or launch new tools. With no-code, employees of all technical skill levels can quickly do it on their own.
  2. Accelerating turnaround times. When customers demand quick and efficient service, you’ll be ready. From automating document creation to streamlining how you collect and store data, no-code tools help you go from idea to solution at lightning speed. 
  3. Simplifying interdepartmental processes. Break out of silos and legacy systems to share data across the business quickly and efficiently. From underwriting to compliance, all data can be stored in one place, easily shared, and quickly processed with automated workflows. 
  4. Controlling workflows from start to finish. Stop seeking approvals or waiting on other teams to get your project off the ground. No-code software puts the power to build web pages, digitize assets, create workflows, and collect data in your hands.

A No-Code Financial Workflow Example

Possibilities abound for no-code software users. One common use case in the financial services sphere is digitizing the loan application process. Loan applications are typically long, cumbersome, and paper-based. But paper applications can cause data inaccuracies and bottlenecks, while legacy applications can be slow and require maintenance by IT. 

A no-code finance workflow process is the perfect fix. With this kind of financial workflow automation, you can offer your customers an excellent digital experience, eliminate manual data entry, and ensure top-notch security. Try it yourself:

Products: Forms · Documents · Sign 

Features: Portals · Smart Lists · Dynamic Document Creation   

Use These Templates: Loan Agreement · Authorization for Automatic Payment Form · Income Driven Repayment Plan Request Form

Optional Integrations: SharePoint  · ShareFile · Marketo  

See how Tri-Counties Bank did it with the Paycheck Protection Program (PPP)

Plus, setting up financial document automation in the loan application process presents added benefits like:

Reimagining the Financial Customer Service Experience

Eighty-eight percent of financial institutions now believe improving the customer experience is the most important digital banking transformation strategy. The best way to achieve it? Simplify historically tedious processes by taking matters into your own hands with no-code software.  

Want more examples of how no-code technology applies to financial services organizations? Download our latest report, Financial Process Automation: A Guide to No-Code Workflows, for a deep dive into the templates and resources you can get started with today to take control of the finance workflow process. 


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Stefanie Jansen |
Stefanie is a marketing writer with specialties in blogging, website writing, and copy editing. She has worked with a number of tech companies and has experience in the areas of email, marketing campaigns, and employee engagement. Connect with Stefanie at word4wordwriting.com.
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