RPA is the key to Fintech Industry growth

Introduction:

The fintech sector is observing a rapid change with the expansion and maturity of computer processing capabilities. Now information technology can provide advanced software that can perform human-like tasks. To mitigate the scarcity of skilled resources and boost efficiency at minimal cost, the banking, financial services, and insurance (BFSI) organizations are now ready to adopt the latest offering of the automation technology – the Robotic Process Automation (RPA).

As per the global fintech giants, RPA is the convenient choice and mandatory for the industry to take a competitive advantage. As claimed by Gartner, in 2022, the estimated market value of the RPA solution is $2.4 billion, which was $250 million in 2016. And it is forecasted to grow at a CAGR of 33.6% from 2020 to 2027.

What is RPA in banking, and how does it work?

Robotic Process Automation is an automated software that is used for automating different repetitive process flows within the company. In the banking and fintech sector, this specialized software is used to perform recurring, rule-based, and high-volume tasks. 

In the fintech and banking industry, RPA follows a predetermined workflow that provides a guideline to the software robot on what steps to follow precisely. This software understands the proper keystrokes, follows the provided roadmap, and runs the required programs automatically to perform necessary tasks. Several banks and other financial institutions currently utilize RPA in customer KYC, account opening, processing client requests, and other repetitive tasks.

Benefits of RPA in the fintech industry:

There are several reasons behind the success of Robotic Process Automation in the fintech industry.

Comprehensive Insights:

Organizations can get detailed insights into their customers’ needs and the market influencing factor when implementing RPA. These insights are imperative to mark significant growth in this competitive environment.

With the introduction of RPA in business, companies are observing more customer onboarding. This is because there is more time to focus on business development and create attractive and much-needed products and services. Apart from this, RPA is efficient in providing the detailed report of competitors after performing in depth analysis. This can provide you a competitive advantage and through data representation in customized format ease the decision-making process.

Reduced Costs:

Fintech companies are processing vast amounts of bills and invoices every month. A well-programmed RPA can help you save a lot of time and money by automating the invoicing process. Moreover, there is significantly less chance of error compared to humans. Moreover, if taught smartly, these software robots can fill up forms and extract from several banking and financial systems and prepare a financial report in no time.

These all automation are a great money saver for your business. According to studies, implementing RPA in the fintech sector can save 25-50% processing time and cost. Now every sector is striving for higher profit margin and in Fintech, this pressure is more. Financial institutions can generate sustainable profit and mark significant cost reduction through automating maximum processes.

Higher Productivity:

If you want your resources to be more productive and innovative, you need to take them out of the monotonous and repetitive tasks. And the best way is to introduce RPA to perform such activities. You can thus utilize their skills to develop new strategies, foster agile development, and more. These activities not only help to increase their productivity but also encourage them to think out of the box.

Better Compliance:

Banking, financial services, and insurance (BFSI) organizations are set to operate within the guidelines and regulations. Meeting the compliances is a daunting task for businesses, but it is mandatory. A slight misalignment and compliance issue may cause massive damage to the organization.

RPA is a perfect tool for maintaining strict regulations and guidelines. To reduce the business risks, you can perform audit trials of every process through RPA. Moreover, there is no space for errors when the checking is performed by smart software. Even the advanced RPA software can detect fraudulent activities and deactivate the malicious accounts to avoid bad debts. This ensures the enhanced security of customers’ financial and personal data.

RPA Archetypes to transform Fintech Automation:

  •  Robots for verification and validation: Information verification and data validation are important tasks for any financial organization. And a slight mistake can lead to major problems. This automated software can perform real-time authentication and verification processes for external and internal systems. These activities are vital in KYC verification, Customer Due Diligence, and other processes. Such automation can quickly transform error-prone operations into a smoothly running activity.
  • System interoperability robots: As the technology is changing every day, it is imperative to adopt the latest one to stay in the competition. In the way forward, the crucial part is to integrate the legacy systems with the advanced, and a lot of data migration takes place. Integrating (RPA) robotic process automation tools can bridge the gaps and perform the cumbersome data migration task without any error.
  • Scheduled robots: There are several banking events that operate until a particular event occurs. The scheduled automation robots are hardcoded and delivered when it is required. In this way, you won’t miss any deadline or can resolve any issue in a big rush.
  • Data input robots: This type of automation can synchronize the data without much time and labor. RPAs can perform human-like activities in data management like system login, searching the data, copying and inserting the records in the perfect place in an error-free manner. It improves productivity and saves a lot of recurring costs for the business.

Parting thoughts:

The fintech sector is facing tremendous pressure to improve its process, boost its efficiency, and cut down its operational expenses to improve the profit margin. Implementing Robotic Process Automation is the only way to make this sector future-ready.

Many financial institutions have already implemented this intelligent automation as these are quick solution providers, easy to implement, and cost-efficient compared to large-scale transformations. If properly implemented, RPAs can offer huge benefits, and this is the call of time for the banks, fintech, and other financial entities to adopt RPA into their solutions.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

What is the Role of Technology in Healthcare?

Healthcare is a sector where there is great scope for technological innovation. Due to its essential nature, the healthcare industry is only going to grow, and the demand for technological solutions to refine healthcare systems and processes is only going to expand. In addition, new and exciting developments in fields like communications, data analysis, biotechnology, blockchain etc., can help hospitals and doctors provide the best and most efficient solutions to patients.

In this article, we’ll be discussing some of the emerging trends related to the role of technology in healthcare. 

Big Data Analysis

Due to the extensive increase in the need for medical facilities in recent days, integration of big data analysis in the healthcare industry has become very important. 

Due to extensive increase in need of medical facilities in recent days, integration of big data analysis in the healthcare industry has become crucial. Some of its applications are:

Efficient hospital staffing: By studying the past and present admission rates, hospitals can estimate the future admission rates. Based on this, they can take decisions as to how many staff to hire and which facilities they should be assigned to.

Error-proof medication: Data analysis systems can flag any errors or inconsistencies in the treatments or medicines assigned to the patient by studying patients’ medical history. This will be a failsafe against mistakes made by the hospital staff.

Preventive care: Again, by analysing patients’ medical history, systems can detect the early symptoms of any medical conditions so doctors can treat them before they reach the serious stage.

Wearable Medical Devices

Wearable medical devices like pacemakers, fitness trackers etc., are a burgeoning part of the healthcare market, and they are expected to form a 27 billion USD market by 2023. Examples of wearable devices are heart rate trackers, calorie trackers, oximeters and fitness trackers. These devices provide medical information about the patient in real-time and can provide advance warning of major health issues. 

Fitness trackers give the patient a sense of responsibility and give them control over their own health. Since they can directly see their activity level, they are encouraged to exercise more to reach some tangible goals. By adding rewards, alerts etc., these trackers “gamify” the fitness process and make it less of a chore for patients.

Virtual Reality Tech

Some doctors are using VR tech to provide relief to patients with chronic pain issues. Since pain is felt in the brain, distracting the brain with VR or other engaging tasks which require a high level of participation and interest from the patient can reduce their pain levels. 

Another application of VR tech is in reducing the anxiety levels of patients who are about to undergo surgery. By distracting the patients through virtual reality, doctors can take their thoughts away from the impending surgery, thereby reducing stress and anxiety levels and improving mental health and wellness.

Apart from helping patients, VR tech can help doctors hone their own skills. For example, doctors can rehearse complicated surgeries in virtual reality and get a better, immersive understanding of the internal arrangement of the human body, including even the smallest organs. 

Blockchain

Blockchain is a major milestone in the field of encryption technology and data security. Keeping the patients’ medical records secure and private is very important for healthcare facilities. This information must also be shared between hospitals when patients are transferred from one facility to another. Blockchain in the healthcare market is estimated to be worth almost 900 million dollars by 2023, showing that hospitals are starting to understand the value of this technology. 

Vendors like BurstIQ and Medicalchain are working to apply blockchain to the healthcare sector. They empower patients to have control over their medical records and are helping hospitals to store, organise and transmit patients’ medical information safely.

Telehealth

Telehealth and online medical consultations have come to the forefront of the healthcare sector due to the restrictions on in-person interactions imposed by the advent of the Covid-19. Even without the pandemic, telehealth comes as a boon to those patients living in remote or rural areas who can’t often travel to the doctor or patients with severe mobility issues (e.g. patients who use wheelchairs or patients suffering from neurodegenerative diseases) who can’t easily leave their houses to visit the doctor. 

Another use case is for patients suffering from contagious illnesses. Despite all the precautions that are taken, there is still the possibility of them spreading the disease. Again, telehealth can be used to treat these patients remotely.

Conclusion

Technology will definitely play an ever-increasing role in healthcare in this new digital age. From empowering people to ensure their fitness, protecting patients’ privacy and medical data, and helping hospitals make more efficient decisions vis a vis staffing and treatment, technological innovations can help doctors and patients in more ways than one.

iView Labs believes in bringing a better version of the healthcare industry at your call, we have a versatile team of developers and consultants to assist you to meet all the innovations you are planning for your healthcare business.

If you are interested in learning more about how to avail of these services, visit www.iviewlabs.com or write to us at sales@iviewlabs.com in case you have any queries. You can download our latest portfolio to get to know us better.

Rapid Application Development: Low Code/No Code (LCNC) Will Continue To Flourish

Low code/no code development refers to a software development approach that requires minimal or no coding to create a piece of software. With visual workflows and drag-and-drop features, low code/no code platforms have revolutionized the way companies and developers build software. 

What exactly are these platforms? How are they helping businesses leverage software more efficiently? Are they going to stay or vanish in the future? Let’s explore answers to these questions in this blog. 

Low code vs no code development platforms

Image Source

A low code development platform is a set of tools that enables software development with little manual coding. A no code development platform is one that creates software with no coding requirements. Often, both low code and no code development solutions are packaged in the same platform.

However, there are some platforms that are truly no code and some that absolutely do require a bit of manual coding. The main distinction then lies in the target user of these platforms.

Low code development platforms are intended for personnel with some programming expertise. No code development platforms are intended for users with no programming background who need limited functionality in their software. Because no code platforms come with a complete package of only pre-built components, they stifle customization capabilities. Therefore, most businesses opt for low code development platforms.

Examples of popular low code development platforms include Microsoft PowerApps, Salesforce Lightning, and Zoho Creator. While tools like Webflow, Appy Pie, and Bubble are commonly used by non-IT personnel for no code development.

Low code/no code development is on the rise

The low code/no code development approach has been around for a while. However, with the emergence of COVID-19 and the large dispersal of organizations thereof, a lot of businesses attempted quicker digital transformation using the low code/no code technologies.

A KPMG survey across Global 2000 organizations revealed that after the emergence of the pandemic, over 26% of executives considered low code/no code as their most important automation investment. Prior to the pandemic, only 10% of businesses considered investing in low code/no code development.

Considering how low code/no code platforms accelerate the process of application development and delivery, it is no surprise that the market for these platforms is rapidly increasing. According to Statista, as of 2020, the global market for low code platforms generated revenue of 12.85 billion US dollars. With a CAGR of over 26%, it is estimated to cross 65 billion US dollars in 2027.

Why are businesses investing in low code/no code development?

Image Source

It removes the barrier to entry into the market by reducing development costs

Traditional software development is both a time-consuming and a resource-intensive affair. It requires businesses to hire a specialized team of experts in design, development, and testing. The hired team then works together for months to deliver a piece of software. Therefore, only established businesses with access to a lot of capital could build software.

However, with the rise of low code/no code platforms, any small business or even a single entrepreneur can easily translate their idea into a functional app. As a result, rapid application development using low code/no code tools has eliminated the barriers to entry into the market for businesses with limited capital and human resources.

It facilitates faster time to market with quick development and deployment

For a majority of startups and small businesses, a faster time to market is indispensable if they don’t want to lose out to the competition. The unexpected shift in consumer preference to online shopping during the COVID-19 pandemic is a great example of how businesses that rolled out apps faster were at an advantage over the ones that lagged behind.

Even in general, the success of a startup is considerably dependent on how quickly they are able to solve an existing or impending problem.

Low code/no code platforms offer ready-to-use components that are pre-tested. Therefore, without having to invest time in creating code and testing it, businesses can plan and launch a software solution in the market much faster compared to traditional software development.

It ensures higher customer satisfaction by enabling quick iterations 

No software application is immune to the need for iteration. Whenever an app is launched, the app owner keeps a keen eye on what the users are liking about it and what needs to be improved. The success of popular web and mobile apps largely comes from regular iterations based on user reviews and feedback. 

In the case of a traditionally built app, implementing changes is time-consuming as you have to write new code and because of how each component is related to the other. However, if you build your app using a low code/no code platform, making iterations is a lot quicker. That’s because these platforms consist of pre-built modules that work well together. So you can make changes to your app quite easily, with little risk of incompatibility.

Challenges of low code/no code app development

One of the biggest challenges of low code/no code development is little scope for customization. There’s a limit to the kind of and the number of templates available to be used in these platforms. If you have a very specific use case for your app, it might be hard to find a platform that satisfies the design and development needs of your app.

Secondly, rapid app development using low code/no code platforms compels you to rely on the security and governance measures implemented by the platform owners, leaving you with no ownership over the source code. This may prove to be risky in unpredictable scenarios like the platform being acquired by a third party or mismanagement of critical customer data.

Lastly, low code/no code development platforms may not be equipped to meet the scaling needs of an application. These pre-built templates may not work so efficiently when the user base expands substantially.

We can help you overcome these challenges and maximize your low code/no code development ROI

Despite some challenges, the low code/no code approach is going to become a significant part of the future of software development. It makes building software more accessible and empowers small businesses to leverage the benefits of software without heavy investments.

The key to driving success with your low code/no code investment is to identify the right platform that will serve your business goals without having to compromise on the security or the functionality aspects. 

iView Labs is an experienced software development company that specializes in creating a winning low code/no code technology strategy for small to medium scale businesses. If you are a business decision-maker who wants to create efficient apps with minimal time and money investment, our team would love to guide you.
Just drop your project details here and our consultants will help you choose the right platform and the right strategy for rapid app development.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

Hear from Our Clients About Their Experience of Working with Us

We started our journey in the digital space back in 2012. Our aim was to make a difference — in the lives of our clients, employees, and partners. We do it through our future-focused solutions and reliable services. Every day, we outgrow ourselves by doing things that are difficult and can put our potential to test.

As a team, we love to challenge the status quo if that means helping our clients achieve their goals. We relentlessly pursue growth and love pushing the boundaries of innovation to create something we can be proud of.

At iView Labs, we take customer service very seriously. We go above and beyond to fulfill our client’s vision; be it about creating the next Amazon or executing on a fresh idea that has the potential to beat Amazon.

We say we do everything it takes to make our clients happy. But you don’t have to take our word for it. Here are a few testimonials right from our clients:

“I appreciate their commitment and understanding of the project.”

– Mario Sipek (Project Manager, MachineDesk)

“They were easy to work with, very forthcoming, and demonstrated great skills on this project.”

– Jimmy Nordh (CEO & CTO, Jinoteco AB)

“This company is very professional and they made themselves available working even beyond work.”

– Giuseppe Carullo

image1.png

For us, our client’s satisfaction is the greatest reward. Seeing them succeed is all we want. And thus, to ensure they remain on top of their competition, we train ourselves from time to time and stay updated with the latest trends in the industry.

Everyone including the developers to team leads periodically goes through rigorous training to remain ahead of the curve. Our commitment to our clients is well beyond the time we spend on a project — we make it our duty to ensure our clients have an edge over their competitors.

If you have an amazing idea or a project you need help with, let’s collaborate. With our years of experience and industry expertise, we can deliver bespoke software applications that are robust, reliable, and visually engaging. Our clients range from emerging start-ups to giant enterprises and medium-sized businesses. 

Share with us your requirements and we will be happy to help.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

How can agile leadership smoothen Digital transformation?

Introduction

Nowadays more and more businesses are embracing digital transformation (DX) to keep up with the competition. It is projected that spending on digital transformation will reach 1.8 trillion U.S. dollars in 2022 alone. And by 2025, global digital transformation spending is forecast to reach 2.8 trillion U.S. dollars. Spending heavily on digital transformation will take you nowhere if you don’t have the right leadership at the core.

In this blog, we will share five common challenges your teams may face while embracing Digital Transformation and how agile leadership can smoothen the transition. Let’s start with Agile Leadership.

Agile Leadership: A Buzzword or Life Saver?

Every business needs “agile” leaders to thrive in today’s rapidly disrupting economy. While the word agile is borrowed from the world of software development, an agile leader should be flexible, quick to adapt, and fast in decision making.

Agile Leaders:

  • Move quickly
  • Are resilient and creative
  • Don’t hesitate to challenge the status quo
  • Embrace change by driving value
  • Listen, learn, and adapt
  • Are open to change
  • Collaborate
  • Learn continuously
  • Are curious
  • Are flexible

5 Common Digital Transformation Challenges (& How Agile Leadership Can Help)

Employee Pushback

The Challenge:

One of the biggest challenges to digital transformation that almost every company faces is employee adoption. As humans, we love having routines and would do almost everything we can to stay in our comfort zone. Thus, when a company introduces new technologies, employees may feel insecure and hesitant to switch due to the skill gap and fear of change.

Agile Leadership Advantage:

Agile leaders can make the transition seamless by clearly communicating each employee’s roles and responsibilities and how they fit in the bigger picture of digital transformation. It’s also important to address the threat of replaceability your employees may be facing. Assure them that they will be provided with enough training and ample opportunities to learn, grow, and prosper with digital adoption. 

Lack of a Well-defined Strategy

The Challenge:

Most companies fail as they lack clarity and often have a misinformed transformation strategy. This leaves employees clueless as to what needs to be achieved and how to go about it. In order to succeed, you must understand the purpose behind the transformation and have a clear roadmap.

Agile Leadership Advantage:

Agile leaders can save you from haphazard decisions taken without analyzing customer needs, and technology trends. They will first define the problem and work their way backwards. This means defining the end goal and splitting the transformation process into phases — each having measurable targets.

Swapping Old Legacy Business Models & Systems

The Challenge:

Change is difficult. Businesses may find it hard to replace the systems and processes they were relying on to date. For one, it’s a lot of work, and switching to new systems can bring a lot of uncertainty. Adding more to that, the cost of transformation is huge – and can discourage small to medium-sized businesses even before they get started.

Agile Leadership Advantage:

Agile leaders are flexible with their approach and can envision the big picture. In comparison, they are more likely to adapt to new changes than people who have a fixed mindset. Good leaders can inspire their employees to take on innovative projects that can challenge the status quo and contribute to the company’s growth. 

Cybersecurity Risk

The Challenge:

Data breaches and security threats can put off companies from taking up digital transformation. The fear of cybercrime is real as it can cost a company thousands of dollars. They may even lose their user’s trust, which is hard to regain, and the damage caused to the brand can be irreparable.

Agile Leadership Advantage:

Strong and agile leadership will allow you to be proactive and take the necessary precautions to prevent any potential cyberattacks. You can start by training your employees and making them aware of potential security risks. Carry out regular risk assessments and ensure you have a sound risk management strategy to mitigate any attacks.

Adapting to Ever-evolving Customer Needs

The Challenge:

We’re in an experience-driven economy. Users care about their experience more than anything else. And to provide a delightful user experience, you need to understand your users, their needs and then work your way backward in transforming their journey.

With competition getting fiercer, customers have started expecting more personalized experiences. And thus, as a company, if you’re seeking to evolve, you will have to adapt to your customer needs. Most companies fail at digital transformation because they think of it as a one-time project. However, it is an ongoing process that evolves with the user’s expectations.

Agile Leadership Advantage:

Agile leaders can help you stay ahead by constantly seeking feedback from customers and employees. They will ensure you’re heading in the right direction by aligning your strategy and goals with your customers’ expectations. Adapting to your customers may mean focusing only on the communication channels that matter or embracing an omnichannel approach towards communication.

Final Words

Digital Transformation is all about enriching your customers’ journey at every possible touchpoint. The transition may be challenging, but having an agile leadership by your side will make the shift almost seamless. 

If you’re seeking to embrace digital transformation but are not sure how to go about it, let us help. Whether you’re seeking to boost your company’s productivity or enhance customer experience, our experts can steer your journey in the right direction. With our time-tested methodologies and proven processes, we will ensure you succeed with your digital transformation goals.

Share with us your vision of digital transformation, and our consultants will be happy to help.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

Low Code Platforms and its Pros & Cons

Introduction

Low-code platforms like Bubble have empowered millions of businesses to create production-ready web applications in no time. Using such platforms, even individuals with zero coding skills can create amazing web applications that are future-focused and scalable.

Even giant enterprises and web professionals have started reaping the rewards of low-code platforms to automate and expedite the development process. In this blog, we will understand what low-code platforms are, their pros and cons, and how you can use them to speed up your development process.

Let’s get going.

What Are Low-code Platforms?

To put it simply, low-code platforms enable users to build interactive web applications without writing a single line of code. How, you ask? Low-code platforms like Bubble come with a drag-and-drop interface that allows users to visually build applications without getting into the intricacies of coding.

You can build and deploy applications that can be scaled easily as and when needed. Low-code platforms are cloud-based — that means you don’t have to worry about setting up the back-end, and you will be able to access them from anywhere.

Marketshare

Low code is fast becoming the preferred method of software development in IT, according to the Gartner’s 2020 Magic Quadrant for Low Code Application Platforms: “By 2024, 75% of large enterprises will be using at least four low-code development tools for both IT application development and citizen development initiatives.”

That’s not all. The low code market is expected to increase from its $10.3 billion market value back in 2019 to $187 billion by 2030 as more companies see the benefits of adopting the platform for their business needs. That’s a CAGR of 31.1%.

Having said that, it is safe to say that low-code development is here to stay for a long time and holds great potential.

Pros & Cons of Low-code Platforms

Benefits of low-code platforms are immense. However, they also have a few limitations. Let’s look at both pros and cons of low-code platforms.

Pros:

Shallow Learning Curve, Lower Cost & Deployment Time:

Learning low-code development is fairly easy and self-explanatory. Anyone with little technical knowledge can learn it in limited time and with minimal effort. What’s more, low-code development is cheaper and will cost you less number of development hours as compared to traditional development.

Lower Maintenance

Low-code development platforms are usually monitored and managed by the service provider itself. This means, you won’t have to spend anything on maintenance of the platform. That’s not all. The app you build with low-code platforms will also require little to no maintenance as most of the components used in developing it will be standardized and ready-made.

Increased Productivity

Because low-code development enables organizations to develop more apps in less time, what used to take months can now be developed in just a few weeks…even days. This fosters innovation and boosts productivity.

Improved Agility

Apps developed by using low-code platforms make organizations more agile in the long run. That’s not all, visual design can accelerate the speed of development. This means less coding and automated testing.

Cons

Limited Customization Options

With the modular components of low-code platforms, you can only go so far in customizing your app. Thus, you may have to change your business processes to keep up with the low-code platform.

Lack of 3rd-party Integrations

With low-code, you won’t be able to integrate your other business tools to your application. Thus, scaling up wouldn’t be that easy. You will have to compromise some of the integrations if you’re seeking to develop a low-code application.

You Get Stuck with One Platform

Most of the low-code development platforms will tie with their cloud-based offerings. Thus, you won’t be able to switch platforms frequently. Moreover, hiring software engineers working with that platform can be tricky.

API Development

With low-code development, you won’t be able to develop a proper API. This means if you are seeking to develop an enterprise-class application with intricate features, you must consider other development methods instead of low-code development.

Top 3 low-code Platforms

While there are a lot of low-code development platforms, here are top 3 platforms that stand out from the crowd for their capabilities.

#1 – Bubble

With a thriving community of over 1.3 million users, Bubble is a powerful low-code platform that can help you build production-ready web applications. You can create everything from interactive, multi-user applications for both desktop and mobile browsers. The apps you build can be hosted on Bubble itself – this means you won’t have to worry about managing server and paying recurring hosting charges. Last but not the least, Bubble has a huge ecosystem of extensions that can help you extend the platform as per your needs.

#2 – OutSystems

OutSystems is one of the most promising low-code platforms that can help you create amazing apps swiftly and without much technical know-how. It comes with amazing features like a WYSIWYG editor, drag-and-drop features to build your apps visually, process and workflow mapping, an app marketplace to choose pre-built apps and templates from, and more. While it may take you some time to get accustomed with the system – but once you know how it works, building apps with it can be super fun.

#3 – Appian

Certainly one of the leading low-code development platforms, Appian comes with all the features you’d expect – coupled with a few useful ones. It offers a drag-and-drop visual interface, seamless third-party app integrations and many more. You can also use pre-built apps for creating your own app with minimal changes.

Final Words

Low-code platforms are leading the digital front by bringing in amazing features, unparalleled time-to-value, agility, and scalability. Furthermore, you don’t need to have any technical skills to build applications on low-code platforms.

In case you need help in deciding which low-code platform will be ideal for you, or want us to develop applications for you, let us know. We have been working with low-code development platforms and can help you turn your amazing idea into a clickable reality with minimal time and efforts.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

What can you do in Metaverse?

Introduction

The term Metaverse was first coined by Neal Stephenson in his novel, “Snow Crash” released in 1992. And recently enough, Facebook CEO, Mark Zuckerberg announced that they are changing their name to Meta Platforms Inc. or in short, Meta. On a superficial level, this may seem just a name change — but it is well beyond that. In this blog, we will understand what is metaverse, its implications, and how it will affect the way we interact with Facebook. That really sounds exciting, isn’t it?

What is Metaverse?

In simple words, Metaverse is a parallel world where you can experience the internet in 3D. To put it in Mark Zuckerberg’s words, it is a ‘virtual environment’ you can interact with instead of just looking at a screen.

To be more specific, Metaverse will have endless interconnected virtual communities where people can meet, and interact with others via VR headsets, AR glasses, mobile apps, and several other similar devices.

Metaverse will comprise immersive shopping and social media experiences. It will be a place where users can create their own virtual items and playgrounds. They can play 3D games with highly personalized avatars that create a more engaging human experience.

“It’s the next evolution of connectivity where all of those things start to come together in a seamless, doppelganger universe, so you’re living your virtual life the same way you’re living your physical life,”

– Victoria P. (Emerging Technologies Analyst)

What Can you Do In Metaverse?

Metaverse will open up a lot of possibilities and will allow us to harness the untapped potential of the virtual world and social media services. You’d be able to host a virtual concert (or go to one), try/buy new clothes, play personalized games, craft digital artwork, etc.

The metaverse will also allow the employers to create a virtual office where everyone can see and interact with each other as if they were right in front of them. Horizon Workrooms, Facebook’s meeting software, aims to achieve this objective via VR headsets that can turn out to be one of the most immersive experiences of the Metaverse.

“A lot of the metaverse experience is going to be around being able to teleport from one experience to another.”

– Mark Zuckerberg

Tech companies, like Facebook, have a lot of work to do before they can offer a seamless and interconnected Meraverse experience to their users. In an ideal world, people in the Facebook Metaverse should be able to interact and engage with users from Google Metaverse. For that to happen, these companies will have to find common platforms through which they can seamlessly exchange data while keeping users’ privacy intact.

Is Facebook Going All-in on the Metaverse?

By the looks of it, yes. The company is investing heavily into the project as they think it is going to play a major role in the digital economy we’re in. They would be investing about $10 billion on Metaverse this year alone. That’s a huge number.

Facebook has also collaborated with Microsoft and Nvidia to scale the project. That’s not all. Video game companies have also been taking keen interest in Metaverse. In fact, Epic Games has raised over $1 billion from investors to build games compatible with Metaverse.

With the ever increasing hype, more and more companies are jumping into this space. And to ensure they are ahead of the curve, Facebook is going all-in on Metaverse.

Is Metaverse Similar to the Internet?

In one of the interviews, Mark Zuckerberg compared Metaverse with the internet by describing it as ‘an embodied internet’ — a place where people can have immersive experiences that a webpage can not offer.

As a matter of fact, one of the key benefits of Metaverse is considered ‘immersion’ — a sense of physically engaging with the world around you instead of watching them through a tab. For instance, interacting with your employees on Facebook Horizon may feel more natural than Zoom/Google Meet thumbnails.

It’s hard to compare Metaverse with the internet. After all, text-heavy internet comes with a lot of advantages. Buying high-end gaming consoles or supercomputers and VR tech can be expensive. Furthermore, in remote areas where internet connectivity is a challenge, people may not be able to access ‘the Metaverse’.

Thus, it is safe to say that Metaverse cannot replace the entire internet, at least not in the foreseeable future.

Is this a yet another stunt to collect more data?

The Metaverse will give Facebook access to a lot more personal data than the conventional internet. With this project, the company will continue to use personal data to show targeted ads, into the Metaverse.

“Ads are going to continue being an important part of the strategy across the social media parts of what we do, and it will probably be a meaningful part of the metaverse, too.“

Mark Zuckerberg

People are concerned that Facebook trying to enter into Metaverse can give the company access to even more personal data. Given their reputation when it comes to privacy and data management, it’s quite alarming.

Metaverse — A Huge Opportunity

A new era of the internet is being innovated. Its implications on our world will be massive. Companies will have to adapt to this change in order to continue thriving in this new space. They will have to be creative and push limits of innovation to embrace the Metaverse. With so much happening at such a pace, the question is, are you ready for the change?

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

Low Code No Code Applications for Digital Transformations

Introduction:

Nowadays, a lot of businesses have started leveraging digital transformation to simplify their workflows and get more done with limited resources. Low-code and no-code development will play a significant role in helping businesses achieve their goals. In fact, low-code development platforms are expected to exceed $187 billion in revenue by 2030.

“The future of coding is no coding at all.”

– Chris Wanstrath, CEO at GitHub.

If you, too, are seeking to transform your business digitally through low-code development, keep reading. In this blog, we will be sharing how you can achieve digital transformation via low-code platforms. Before we get started, let’s look at a few low-code platform use cases.

Low-code Platform Usecases:

While there are many use-cases of low-code platforms, some of the most popular ones include:

Customer Engagement Apps: To deliver better customer service and allow your prospects to book appointments or interact with your business.

Business Apps: To streamline operations, supply chain management, and company-wide processes.

Collaboration Apps: That enables your employees to seamlessly manage their tasks, resources, etc.

Why Digital Transformation?

IDC reports, Digitally transformed organizations are projected to contribute to more than half of the global gross domestic product (GDP) by 2023, accounting for $53.3 trillion. Today, if your business isn’t digitally transformed, it won’t be able to stand against ever-changing times and fierce competition. Moreover, scaling up can be extremely challenging if your business isn’t equipped with the latest technologies out there.

Digital Transformation will enable you to:

  • Improve Productivity
  • Foster Innovation
  • Elevate Customer Experience
  • Increase Business Agility
  • Optimize Processes
  • Minimize Costs
  • Increase Speed to Market

Now that you know why you must transform your business digitally let’s see how to achieve it without spending a huge sum of resources.

Practical Usecases of Low Code Applications for Digital Transformation

Low-code platforms can help you solve some of your most intricate business challenges. Let’s look at some practical use cases of low-code platforms and how they can help you embrace Digital Transformation.

Web-based Customer Portal

Delivering a better customer experience is one of the many reasons companies embrace Digital Transformation. This involves developing apps that enhance their interactions across every touchpoint. Enterprises can easily achieve that with low-code platforms via customer engagement apps.

By using low-code platforms, users can develop and deploy apps with little to no coding. These apps can be scaled as and when required. Companies can monitor their performance and optimize them along the way. Thus, low-code development fosters innovation and allows organizations to move quickly.

Learn how SUEZ developed a web-based customer portal and improved their customer experience by allowing their users to perform routine tasks like paying invoices, calculating quotes, etc.

IoT-enabled Smart App

With the help of low-code platforms, your employees can create IoT-enabled smart apps that can be deployed without relying on your IT department. Not only can they make changes in real-time but also retract them easily. Ultimately, this provides more freedom to your employees — to innovate, be creative, and challenge the status quo.

Low-code platforms can enable your employees to get more done in less time — thereby boosting their productivity and improving performance. A recent survey by PTC reveals that 40% of businesses claim to have implemented Digital Transformation to improve their operational efficiency.

Learn how Hortilux — a leading manufacturer, and supplier of grow light solutions — revolutionized the greenhouse industry with an IoT-enabled smart app built with a low-code platform.

B2C Mobile Application

You can create fully functional mobile applications with low-code platforms. These platforms have ready-made templates and features that you can add to your app while developing it. By using low-code platforms, businesses can build custom apps much faster than the traditional approach.

Because many businesses employ digital transformation simply to speed up app development, low-code platforms can come in handy. They can radically decrease the amount of time it takes to launch a product while keeping its quality in check.

Learn how VGZ Cooperative — a leading healthcare insurance provider in the Netherlands — developed a custom mobile app in less time and by spending a fraction of the cost of traditional app development.

Apart from the above-mentioned ones, there are a lot of use-cases of low-code development. For instance, it can be used to develop SaaS apps, core systems, web portals, etc. You can use it for various purposes depending on your requirements.

Is Low-code Better Than Traditional App Development?

Yes. There are so many reasons you should consider low-code over traditional app development. Here are the top 3 reasons:

Improved Agility: Apps developed using low-code platforms make organizations more agile and resilient in the long run.

Cut Development Time: Low-code development can transform months-long projects into weeks-long — thereby enabling faster development.

Effective Risk Management: Unlike traditional development, Low-code platforms allow you to quickly adapt to market norms as and when needed.

Final Words

We hope we could provide you with a few ideas on the implications of low-code platforms on Digital Transformation. The possibilities can be endless. With a perfect blend of DX and low-code development, you can make your business stand out from the crowd.

As of now, well over 89% of businesses have already adopted or are planning to adopt a digital business strategy. With every passing day, the competition is going to get fiercer. Thus, now is the right time to take the leap and transform your business digitally.

If you need our help, let us know. We have helped businesses of every size and scale transform digitally by embracing the latest and cutting-edge tech and resources. Give us a shout, and our team will help you dominate your competition.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

An A to Z Guide on Creating Your Own NFT Marketplace

Introduction

It’s high time for NFTs. They are on the verge of being ubiquitous. The sales of NFTs crossed $2.4B in the first 6 months of 2021. That’s not all. The trading volume of NFTs has been soaring across the internet. A popular NFT marketplace — OpenSea reported an 800% increase in trading volume.

With more people joining the club every day, these numbers are bound to increase over time. This means, if you’re seeking to create your own NFT marketplace, there couldn’t be any better time than now. In this blog, we will share everything you need to know to start your own marketplace.

What is a non-fungible token (NFT)?

A non-fungible token (NFT) is like a digital asset representing art, music, videos, game items, etc. They can be traded via cryptocurrency and are built with the same software as other cryptos. What makes an NFT stand out is its uniqueness. Each NFT is unique and irreplaceable. However, you can still trade/sell them on various NFT marketplaces.

Here are a few properties of NFTs:

  • They are indivisible. You cannot divide an NFT or sell a part of it.
  • While it is possible to view an image or artwork for free, there can be only one individual owner at any given point in time. The ownership of any NFT can be easily verified and there’s no way anyone can modify/copy/paste ownership records.
  • NFTs can be scarce as they are launched in limited quantities and cannot be owned by multiple users simultaneously.

Now that you have a brief idea about NFTs, let’s understand more about their marketplaces and how they work.

How does an NFT Marketplace work?

NFT marketplaces work similarly to any other marketplace. Creators can upload their art on the blockchain, and collectors can view and trade it via cryptocurrency. You can create a marketplace for a very specific niche or for multiple industries catering to diversified audiences. 

As far as the revenue goes, most marketplaces collect a commission from all the trades happening there. However, there are many other ways you can generate revenue via a marketplace. For instance, you can levy a subscription fee to sellers/creators or have a fixed cost for registering. You can also consider allocating space for ads either to sellers or advertisers.

Now that we have a brief idea about how marketplaces work and how you can generate revenue from it, let’s look through essential features every NFT marketplace must-have.

Necessary Features of an NFT Marketplace Website

1. Storefront

While this goes without saying, there couldn’t be a marketplace without a storefront. That’s where you can display the products, categories, and feature popular creators on the marketplace.

You should prioritize the information to be displayed on the storefront as it is one of the most important aspects of your NFT marketplace. It should be easy to navigate, intuitive, and must deliver a consistent user experience.

2. Advanced Search & Seamless Navigation

Search and navigation are critical components of your marketplace. You must ensure your marketplace is easy to navigate and the users can find what they are looking for in no more than 4-5 clicks.

To simplify navigation, you can consider adding a mega-menu with explicitly defined categories, sub-categories, and products. For search, you can consider adding advanced filters that allow users to search via product attributes.

3. Seller Profiles/Store

Creating a seller profile will greatly improve the overall shopping experience. Buyers who are looking to buy NFTs only from a specific seller can do so via visiting their profiles. And on the other hand, sellers also get to display their best work in an organized manner.

You can add the seller’s selling history, total NFTs, customer feedback to their profile page. This will also help buyers decide whether to trust a seller or not. For instance, if a seller has less than three stars from five, a buyer will be cautious while dealing with them.

4. Creating Listings

Creating NFT listings will be another basic feature every marketplace should have. This is where sellers can upload their work and list them for auction/sale. They can add descriptions, images, and other relevant details that are necessary.

NFT creators may or may not be tech-savvy. Thus, it is important to keep things as simple as possible here. You don’t want to confuse them with too many options. Keep what’s required and verify the information on each listing before it goes live.

5. Buying & Bidding

While some creators sell their artwork at a fixed price, others prefer to put their work at auction. So it is important that your marketplace offers both options to creators. Auctions should have an expiry date while other listings get automatically removed once the art is sold.

As far as the bidding goes, you must ensure the process is swift and smooth. The information about the latest bid should be updated in real-time so there are no conflicts whatsoever. Having a seamless buying cycle will ensure a good shopping experience for buyers.

6. Wallet

Both the parties, buyers and sellers must have their wallets on the marketplace. They can store, send, and receive cryptocurrencies in exchange for NFTs. Buyers can load crypto to their wallets and sellers can cash it out once received.

There are several wallet systems available in the market. Make sure the one you choose is safe and reliable. The last thing you want is failed transactions and unhappy users. If you can, test different wallet systems before fixating to one.

Conclusion

Apart from the above-mentioned ones, there are several other features an NFT marketplace should have. For instance, the ability to rate a trade post-completion, verify an NFT, and many more. While creating your own marketplace, think of the features that will be usable to your audience. A feature-rich marketplace is bound to thrive even amidst today’s rapidly disrupting economy.

If you’re seeking to develop your own NFT marketplace but don’t know where to start, let us help. We can help you create a high-performing marketplace that consistently delivers a good user experience. Give us a shout, and let our trained professionals help.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.

NestJS VS. Fastify _ Which One to Use & When

Introduction

Today, Node.js is among the top 10 JavaScript frameworks, primarily because it’s light, scalable and open-source. With the ever-increasing popularity of Node.js, several other frameworks have emerged to help developers build high-performing, reliable, and scalable server-side apps quickly and easily. Two of the most prominent Node.js frameworks are NestJS and Fastify. 

While both frameworks are equally competitive, there are a few things that set them apart. In this blog, we will look at the key differences between the two so you can decide which one’s ideal for you. If that sounds exciting, let’s get going.

NestJS VS Fastify: Top 5 Differences

NestJS and Fastify are fundamentally Node.js frameworks designed to ease out the development process. Let’s look at the top 5 key differences between them.

Overview:

NestJS: 

NestJS was first released in 2017 by Kamil Myśliwiec, who is a Google Expert in Web Technologies and Angular. As a framework, NestJS is heavily inspired by AngularJS. As it is a platform-independent framework, you can create and reuse some of the core elements in different applications. Furthermore, there are no limits to what you can build with the framework. You can develop everything from a minimal web application to a highly intricate enterprise solution.

Fastify:

Fastify was developed by Matteo Collina and Tomas Della Vedova back in 2017. They introduced it at a Node.js Interactive held in Vancouver. Here’s a framework that’s primarily focused on speed and performance (more about that later). It is easy to learn and developer-friendly. In 2019, Fastify joined the OpenJS foundation as an incubating project, and since then, the framework has evolved in leaps and bounds.

Marketshare:

NestJS:

Since the day it launched, NestJS has been consistently growing in numbers. Today, it has over 41.1k GitHub stars and gets downloaded over 764,859 times every week. It is also widely popular among the developer community for it has a shallow learning curve and good performance benchmarks. On StackShare, a popular community-driven SaaS platform that ranks software tools and technologies, NestJS has more followers and votes than Fastify. Last but not least, if we talk about the web, again, NestJS beats Fastify in numbers – for total web traffic and global site rank.

Fastify: 

Fastify, despite being an equally competent Node.js framework, is less popular as compared to NestJS. With over 20.7k stars on GitHub and 234,034 downloads a week, it is known for its speed and performance. Fastify has got its own set of loyal followers on StackShare – which are quite less than NestJS. Keeping the numbers aside, Fastify delivers exceptional performance and can increase your throughput up to 100%.

Core Features:

NestJS:

  • Versatile: You can use NestJS to build any and every type of server-side application irrespective of its intricacy.
  • Highly Scalable: With NestJS, you can start small by building a simple application and scale your way up to an enterprise-class server-side app.
  • Well-documented: Getting started with NestJS becomes super-easy with the huge library of resources available for free on the official website of the framework.
  • TypeScript: Because NestJS uses the latest version of TypeScript, it can change to the JS whilst simplifying context switching.

Fastify:

  • Performance: Being one of the fastest web frameworks, Fastify can serve up to 30,000 requests/second.
  • Extensible: You can seamlessly use Fastify via its hooks, decorators, and plugins. This makes the development process hassle-free.
  • Easy to Learn: Fastify is easy to learn and implement. It is expressive in nature. This means if you know Node.js, you can easily get your hands on Fastify.
  • Giant Ecosystem: Fastify has a huge ecosystem of core and community plugins that are freely accessible and can be used per your needs.

Community & Support:

NestJS:

With hundreds of contributors and thousands of users globally, you can be assured that you will get enough help and support in case you run into any troubles. That’s not all. NestJS also has a thriving community on various other developer forums like Spectrum, npm, Dev.to, and Discord. Additionally, you can also network with other NestJS nerds at various conferences held by community members from across the globe.

Fastify:

Fastify is also backed up by a huge pool of people who maintain and manage the framework. They roll out frequent updates to add new features to the framework and safeguard it from potential vulnerabilities. You can find Fastify forums on Dev.to, GitHub, and Stackoverflow. In case you’re looking for professional help, you can also hire a Fastify developer via platforms like arc or upstack. In case you’re looking for a reliable agency – give us a line, and we will be happy to help.

Popular Usecases:

NestJS: 

NestJS is used by some of the most popular companies like Adidas, Decathlon, Capgemini, Autodesk, etc. You can use it to build robust and reliable server-side applications that are both high-performing and secure.

Fastify:

Several popular companies, including Hotstar, Genesys, Habit, Radity, Microsoft, and NearForm use Fastify for different purposes. It is fast, reliable, and can efficiently handle intricate processes. With a giant ecosystem of 45 core and 155 community plugins, you simply cannot go wrong with Fastify.

Conclusion:

Both NestJS and Fastify are reliable and high-performing Node.js frameworks. Picking one over the other can be really intimidating. Rather than asking which one’s more popular – it’s better to go with the one that’s most optimized for the job. You may consider looking through their documentation and the source code before making a decision. 

If you’re still unsure which one would be right for you, let us help. Having worked with Node.js and similar frameworks for quite a while now, we can not only help you pick the right framework but also develop a robust and reliable application that stands true to the time. To get started, simply give us a line, and our team will be happy to help.

To know more about iView Labs, kindly log on to our website www.iviewlabs.com and to get in touch with us with your queries and needs just write us an email on info@iviewlabs.com and sales@iviewlabs.comDownload the latest portfolio to see our work.