Clearpay Helps U.K. Square Merchants to Offer Buy Now, Pay Later
  • Square is launching its first integration with ClearPay this week.
  • Square merchants in the U.K. can now leverage Clearpay (known as Afterpay outside of the U.K.) to offer a BNPL payment option to their customers making purchases both online and in-person.
  • The integration is the result of an acquisition between Square parent Block and Afterpay in January of this year for $29 billion.

Block’s Square is launching its first integration with ClearPay (also known as Afterpay) in the U.K. this week.

The move will make ClearPay’s buy now, pay later (BNPL) technology available clients making purchases at both in-person and online Square merchants. End customers will have the option to pay in four interest-free installments over the course of six weeks, while merchants will receive payment right away.

There is record demand for BNPL among U.K. consumers. The BNPL model is the region’s fastest growing online payment method. Last year, consumers spent $15 billion using BNPL on e-commerce purchases. This figure is expected to double by 2025.

“The integration across platforms furthers our goal to give sellers of all sizes omnichannel tools that help them to grow by meeting consumer shopping habits, whatever and wherever they are,” said Head of Square Alyssa Henry. “Clearpay provides our ecosystem with a new tool beyond an alternative payment method; it enables an omnichannel commerce solution that can offer true value to our sellers.”

Today’s news comes after Square’s parent company Block acquired Afterpay for $29 billion in January of this year. Outside of the U.K., Square has already seen positive results from its integration with Afterpay. The company reported that in the U.S. and Australia, the average transaction size among customers using Afterpay is three times greater than non-BNPL purchases. Across the globe, Square noted a 180% increase in new customers using Afterpay offered by Square sellers between February and March of this year.

Founded in 2009, Square is a fintech pioneer. The company was among the first to offer mobile point-of-sale payments. Today, Square offers a holistic merchant services platform and competes with some of the largest traditional players in the space, as well as newcomers including Stripe and PayPal. Earlier this year, Square teamed up with Apple to launch Tap to Pay on iPhone. The new service will offer sellers a solution to accept contactless payments with no additional hardware.

Photo by Uzunov Rostislav

Stablecoin News for the week ending Wednesday 24th August.

Here is our pick of the 3 most important stablecoin stories during the week.

Are CBDC’s too dangerous to allow?

CBDC implementations have the potential to be very dangerous in terms of personal freedom and political liberty.  Can we design out the danger but keep the good stuff?  This will be the big debate in western democracies in the next two years. 

But first, the alternative to CBDC’s, private sector issued stablecoins had another bad week.  The HUSD stablecoin, which is issued by Stable Universal, has fallen to 92 cents, an 8% drop from its planned $1 peg, according to CoinMarketCap prices.

Cash-Backed HUSD Stablecoin Loses Peg, Drops to 92 Cents (

Crypto advocates in the U.K. have largely welcomed a new bill that could bring digital assets like stablecoins into the scope of local payments regulation. But there’s uncertainty about how the new rules will look like, should the bill pass.

The bill is scheduled to be debated in Parliament for the first time in September. It will move through a complex legislative process that could be slowed further by the recent cabinet shuffle, and crypto advocates are awaiting indications from regulators on how they plan to interpret and enforce the rules.

UK Crypto Industry Welcomes New Stablecoin Rules, Awaits Guidance (

The European Central Bank (ECB) said that the introduction of digital cash in the form of central bank digital currencies (CBDCs) appears to be the “only solution” that will guarantee a “smooth continuation” of the current monetary system as physical money loses its economic “fitness” and cryptocurrencies and Big Tech (large digital platforms) continue to make inroads into the financial system. 

“There is no regulatory alternative that promises to eliminate the threat to the two‐layer monetary system. Since cash is only available in physical form, it is by construction not ‘fit’ for the digital age.”

The importance of central banks achieving the right level of CBDC “take-up” was stressed, and the authors also looked at potential regulatory action that could help CBDCs achieve their goals.

CBDCs only solution to ‘smooth continuation’ of the monetary system: ECB (

And there you have it, if the State can’t win consumer take up by building a great product, the temptation is to change the rules so you have to use it.  Kitco reports that newly inaugurated Colombian President Gustavo Petro’s government intends to create a new digital currency to help prevent illicit financial activity, including tax evasion. The country estimates that tax evasion accounts for 6-8% of Colombian GDP.  But what it will really do is make it easier for governments to track consumers’ purchases and tax them.

The endgame of central bank digital currencies is the surveilance state | Forexlive

So in summary, the State can use regulatory change to make you use it and money surveillance to enforce taxation but why stop there when you can now defund political opponents.  This would make the raid on Mar-a-Largo look like very small potatoes?


Alan Scott is an expert in the FX market and has been working in the domain of stablecoins for many years.  

Twitter @Alan_SmartMoney

We have a self imposed constraint of 3 news stories per week because we serve busy senior Fintech leaders who just want succinct and important information.

For context on stablecoins please read this introductory interview with Alan “How stablecoins will change our world” and read articles tagged stablecoin in our archives.

FinovateFall 2022 Sneak Peek: Apiture

A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.

Apiture’s embedded banking tools allow financial institutions to embed financial services into non-bank partners’ software, extending these services to new users and giving more convenient banking options.

Why it’s great

Embedded banking enables financial institutions of any size to create new revenue streams by attracting users outside of their existing geographic footprint and cross selling in new ways.


Daniel Haisley, EVP of Innovation
Haisley leads Apiture’s innovation efforts encompassing Data Intelligence and API Banking solutions. He has an extensive background in product and design management and, prior to his time at Apiture, Haisley held product leadership roles at Live Oak Bank and 1st Source Bank. He brings 10+ years of experience driving innovation in technology for financial institutions.

Haisley is a graduate of Purdue University in West Lafayette, IN, where he earned a B.S. in Financial Counseling & Planning, and the Graduate School of Banking at the University of Wisconsin in Madison, WI.

Danielle Eriksson, Director of Product Management
Eriksson is responsible for leading the API Banking and Embedded Banking initiatives on the Innovation team. She has experience in capital markets, building financial products for retail and institutional investors, as well as building financial technology solutions to help financial institutions improve cost efficiencies, engage customers, and ultimately grow the balance sheet.

Eriksson graduated from Tufts University, where she earned a bachelor’s degree in Economics. She is currently pursuing a master’s degree in Quantitative Management and Business Analytics from the Fuqua School of Business.

FinovateFall 2022 Sneak Peek: Bankjoy

A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.

Bankjoy’s new Business Banking platform makes it easier for community banks and credit unions to deliver truly feature-rich digital banking technology to their business customers.


  • Use one portal for multiple business accounts
  • Manage users & control permissions
  • Send transfers to multiple recipients & more


Michael Duncan, CEO & Co-Founder
Before founding Bankjoy, Duncan managed software development for a large credit union in Michigan, including the development of their mobile banking app.

FinovateFall 2022 Sneak Peek: Gridspace

A look at the companies demoing at FinovateFall in New York on September 12 and 13. Register today and save your spot.

Gridspace is a voice technology and artificial intelligence software company. The company provides natural-sounding virtual agents and voice observability software to contact centers.


  • Performance – Gridspace runs neural networks directly on its own softswitches
  • Security & Trust – HITRUST, HIPAA, SOC-2 & PCI Level 1
  • Unified platform – Human & virtual agents in one place

Why it’s great

Gridspace is a true, full-stack provider of conversational AI – building and integrating its own enterprise-grade softswitch, conversational ASR, search engine, neural TTS, dialog systems and more.


Evan Macmillan, CEO
Before Gridspace, Macmillan co-founded Zappedy, a payments technology company that was backed by Eric Schmidt and acquired by Groupon. He has an engineering bachelor’s from Stanford in Product Design.

Adam Miller, Principal Engineer on Monophone
Prior to Gridspace, Miller worked on the Search Webanswers team at Google and studied computer science at UIUC.

Scotiabank’s mobile rewards app adds 150k new users in Q3

Scotiabank added 150,000 new members to its mobile app rewards program during the third quarter as the bank expanded the program in Canada and increased its revenue 5% year over year. The loyalty program allows members to earn points by using the bank’s mobile app to make purchases with Scotiabank debit or credit card products. […]

By the Numbers: Banking apps underwhelm in connectivity

As mobile banking becomes more widely adopted by users of all ages, the technology comes with its own drawbacks, with nearly half of mobile banking customers saying their money-related apps and financial accounts regularly lose connectivity. U.S. customers at the younger end of the age spectrum are running into problems with mobile platforms, according to […]

Fin Capital’s Ren Riley to speak at Bank Automation Summit Fall

Ren Riley, investment partner at Fin Capital, will speak at Bank Automation Summit Fall 2022 to discuss investor interest in banking technology in 2023.

Ren Riley, investment partner, Fin Capital

The panel, “RPA & Beyond: Investors on what’s next in banking technology,” will dive into valuation trends, differing views on investment between banks and venture capitalists and upcoming investment trends in 2023.

Bank Automation Summit Fall 2022 will take place at the Hyatt Olive 8 in Seattle on Sept. 19-20. The Summit brings together industry experts to discuss banking automation and technology topics from using cloud development to embedded finance.

View the event agenda here.

At San Francisco-based Fin Capital, Riley is responsible for sourcing primary and co-investment opportunity to add value to the investment firm’s portfolio companies. He is a co-founder and managing director of Enclave Liquidity Partners, and is a venture partner at Oak Investment Partners. Riley joins Citi Ventures’ Matt Carbonara on the panel.

Learn more about Bank the Automation Summit Fall 2022 and register.

Truist acquires Zaloni data governance platform

Truist announced Monday it has acquired the Zaloni Arena platform from data technology solution provider Zaloni to assist in the financial institution’s data strategy and reduce IT costs. The technology, once added to the Truist platform, can be built out with new capabilities like API calls, user experience enhancements, and software that has been developed […]

Rethinking the digital account opening process

Financial institutions can streamline digital account opening (DAO) for their clients by reimagining the process as neobanks do, rather than digitizing their existing processes. For the past 15 years, FIs have been focused on digitizing — rather than rethinking — the customer’s digital journey, Alex Jiminez, managing principal, financial services consulting at EPAM Systems, told […]

The Conversation Continues: Greg Palmer and the Finovate Podcast’s Summer Series

Greg Palmer’s Finovate Podcast continues to be the source of many of fintech’s most compelling conversations.

From discussions with innovation experts to deep dives with veterans of the VC world, the Finovate Podcast is a great way to learn about the trends that fintech enthusiasts are most enthusiastic about.

Here’s a rundown of recent episodes you might have missed over the summer.

Find the Finovate podcast at Soundcloud and follow Greg Palmer on Twitter for the latest in programming news and updates.

Michael Butler, President and CEO, Grasshopper Bank

Finovate Podcast host Greg Palmer talks with Grasshopper Bank President and CEO Michael Butler on surviving and thriving as a neobank, and lessons for the broader fintech ecosystem. Episode 142.

“(Grasshopper) is a company that is focused on providing digital financial solutions to the business and innovation economy, mainly SMBs that are focused on technology and are technophiles by nature. We think there’s a big demand pull that has been coming for some time in the business side, and we think it’s the next great place for disruption from a digital banking perspective.”

Tony Ulwick, Creator, the Outcome-Driven Innovation Process

Greg Palmer introduces Tony Ulwick, founder and CEO of Strategn and creator of the Outcome Driven Innovation process, to Finovate audiences in this podcast conversation. Ulwick explains the importance of focusing on innovation that matters and successfully bringing new ideas to the market. Episode 141.

“I thought: if we just knew the metrics they were going to use to judge the value of our product a year and a half ago when we started developing it, we could just design the product to meet those metrics and we’d win in the marketplace. It sounds simple enough. But the (next) thought was: what are those metrics? How can we capture them? Do they exist?”

Tiffani Montez, Principal Analyst, Insider Intelligence

Podcast host Greg Palmer talks with Tiffani Montez, Principal Analyst with Insider Intelligence. In their conversation, Montez discusses strategies for keeping customers happy in times of economic uncertainty – and finding opportunity in challenging times. Episode 140.

“How do you safeguard consumer trust? We know that digital trust is the confidence that consumers place in their bank’s digital channels. And they have a prime opportunity to build this up as a commodity. We know over the last year the largest U.S. banks have come to aid in a time of pandemic related crisis. And customers have repaid that flexibility with greater trust in their primary financial institutions.”

Zach Noorani, Partner, Foundation Capital

Greg Palmer and Zack Noorani, Partner with Foundation Capital, talk about neobanks – the what, the why, and the what happens next. Episode 139.

“I would be remiss not to say that I struggle with startup nomenclature like this (neobank). These organisms evolve so quickly. Terms like “neobank” – at first they seem grandiose, way beyond what the businesses actually are. And then, before you know it, the end up feeling overly narrow and constricting.”

Photo by Pixaba

Bank behind fintech’s rise reels in billions in pandemic’s wake

One of the fastest growing banks in the US is on a mission to rewire the industry. It has also touched some nerves. Cross River Bank began turning heads across the financial realm soon after Congress started unleashing $800 billion in emergency loans to help small businesses survive the pandemic. The little-known 14-year-old suburban New […]

First Tech Federal Credit Union taps Zebra for new tech

First Tech Federal Credit Union recently selected Zebra Technologies’ Reflexis for Banking to optimize branch performance for employees and improve the customer experience. The $15.8 billion, San Jose, Calif.-based credit union will use Reflexis to digitize audit processes to enhance insights and visibility into staff workload, task management and communications across all branches, according to […]

Eltropy acquires Marsview AI to automate, enhance CX

Digital communications company Eltropy recently announced its acquisition of artificial intelligence (AI)-driven platform Marsview to streamline the contact center experience for consumers. The increasing need for digital communications during the COVID-19 pandemic set the company on a path of improving its text messaging, video banking and digital voice capabilities, according to Eltropy founder and Chief […]

Currencycloud and Future FinTech Labs Team Up to Launch Remittance App Tempo
  • Currencycloud teamed up with Future FinTech Labs (FTFT Labs) to help the New York City-based fintech launch its Tempo app.
  • Tempo is designed to make it easier, more secure and more effective for U.S. immigrants to send money overseas.
  • Acquired by Visa in 2021, Currencycloud has processed more than $100 billion in cross-border money transfers since inception in 2012.

Global payments solutions and infrastructure company Currencycloud has partnered with Future FinTech Labs (FTFT Labs) to help the NYC-based fintech launch a new remittance solution for U.S.-based immigrants. The new offering, an app called Tempo, will help immigrants living in the U.S. send money securely to North America, Italy, Spain, France, Germany, the United Kingdom, India, and the Philippines.

Tempo will gives FTFT Labs customers access to a multi-currency wallet that makes sending money internationally easier and more cost-effective compared to other high-fee remittance services. Tempo app users will be able to leverage both FTFT Labs’ Conversion Tool to buy and trade currencies and use FTFT Labs’ Funds feature to top off their digital wallet.

“Tempo represents an easy, fast, and secure way to transfer money cross-border,” FTFT Labs CEO Sean Liu said. “Working with Currencycloud and using the breadth of services it allows us to offer our customers a seamless process from start to finish. We are confident we will be able to continue to make remittance a seamless process for our end users.”

Tempo users pay a fee of $2.99 pre-transaction – although the company is currently offering customers fee-free transactions when they sign up. Transfers via Tempo take place instantly rather than over the three business days typical of other money transfer apps, and users can send as little as $20 or as much as $1,500. Tempo sees its transfer amount limit as an advantage compared to other money transfer apps that do not have a limit, seeing the limit as a way to help ensure “a high level of security, by design, for users.” The Tempo app is available for both Android and iOs devices.

Making its Finovate debut in 2012, Currencycloud most recently demonstrated its technology at FinovateSpring 2018. The London-based company serves banks, fintechs, and foreign exchange brokerages, helping them and their customers make seamless and secure cross-border transactions in multiple currencies. Since inception, Currencycloud has processed more than $100 billion transferred between more than 180 countries. Acquired by Visa in 2021, the company includes fellow Finovate alums Dwolla and Mambu among its partners. Currencycloud maintains offices in New York, Amsterdam, Cardiff, and Singapore.

“Migrants in the U.S. should be able to send money cross-border without friction and without prohibitive costs,” Currencycloud VP of Sales Lewis Nurcombe said. “A fintech like Future FinTech Labs understands the needs of working people wanting to send money to family and friends, and as such is successfully reimagining how money flows for this huge market.”

Future FinTech Labs is a subsidiary and research and development center for FTFT Group. FTFT Labs is dedicated to designing, developing, and providing operational support for FTFT’s digital banking and payment services offerings.

Photo by Francesco Ungaro

When cash dies, your privacy will die

Last week I read a tweet that Israel was going to ban cash payments.

Israel introduced a law banning the use of cash for large transactions. The new law limits cash payments in one business transaction to 6,000 shekels ($1,785), as the country wants to fight organized crime, money laundering, and tax evasion. It also announced its intent to limit personal cash savings, to reduce overall cash usage.

Israel is not alone. Earlier this year Italy limited cash payments to €1,000 and for any payment above this limit, you need to use a bank card, a cheque, or make a bank transfer. In Greece, the limit is €500, except for the purchase of a vehicle.

Cash is being used less and less each year. A generational shift in consumer behavior coupled with factors like the Covid pandemic has expedited this process.

Cash is on its way out.

A study by the European Central Bank (ECB) released in 2020 showed that the Netherlands, closely followed by Finland, is the country in the Eurozone which uses cash the least, with less than 35% of transactions being completed in cash. This is a rather small percentage in comparison to neighboring Belgium and Germany with 58% and 77% of cash transactions respectively, and countries like France at 59%, Spain at 83%, and Italy at 82%.

Governments everywhere are planning to track everything we do with our money. Worst of all they are planning to use the data to exercise control.

There are currently over 90 countries worldwide that are examining, developing or implementing some form of programmable money, central bank digital currencies (CBDCs) — digital versions of national fiat money updated for use in today’s increasingly online world.

The most notable and troubling CBDC in development is the Chinese digital yuan. The pinnacle of digital authoritarianism, this digital currency would be linked to a “social credit” score that gives the Chinese government instant knowledge and control over its people’s finances.

China already monitors what people do with their money, whether people pay bills on time, much like financial credit trackers — but also ascribes a moral dimension. Their social credit system links each person’s identity to their bank account and lets the government see and control everything someone does with their money. While the exact scoring methodology is a secret, infractions can be both related to money and non-money activities — bad driving, smoking in non-smoking zones, buying too many video games, debt, not paying bills, wasting money on frivolous purchases, and posting fake news online, specifically about terrorist attacks or airport security.

While most CBDCs propose using blockchain technology similar to that of cryptocurrencies like Bitcoin and Ethereum, they differ with regard to decentralization and privacy. The Bitcoin and Ethereum networks are designed so no one entity can exert control and all transactions have a degree of anonymity, while CBDCs are exclusively controlled by governments and are expected to provide limited or no privacy.

No matter where you live in the world, this technology is close to becoming a reality. Governments are planning to replace cash with CBDCs. In Europe, the ECB expects to release the digital Euro by the end of 2025 or early 2026.

With CBDC everything you do will be tracked and analyzed.

Did you take too many car trips this month? Did you buy too much meat? Did you buy cheap synthetic-fiber clothing? Well, then you’ll get a bill from your government to pay the price of your indulgence. And since central banks will hold the keys to your money, they won’t even have to send you a bill, they’ll just withdraw the fines directly from your bank account.

The Canadian government’s response regarding donations to the trucker protests this year is a good indication of this phenomenon. These were frozen after the use of an emergency law and the donors were exposed to prosecution.

While a cash-free world that runs on CBDCs may increase financial inclusion, it’s clear they will have a lasting impact on our financial privacy and freedom.

The greatest attribute of cash is that it carries only the information of value, protecting purchaser privacy. Cash is the only established payment system that offers “full anonymity.” Even central banks, the issuer of legal tender fiat currency, do know who possesses cash. Eliminating cash would undermine the privacy of individuals.

Central banks are looking for ways to get rid of cash and gain more control. The risks of financial censorship are rising and with a CBDC, central banks could easily block the use of funds of individuals or groups who fall out of favor with their government.

Google Trends, worldwide past 5 yrs, Keyword ‘bank account frozen’

Our freedom is threatened in a world where banks and governments get rid of cash and replace it with CBDC while maintaining the possibility to freeze anyone’s bank account. This opens the door to a dark reality in which we may not be able to participate in society because we voiced the “wrong” opinion on Twitter, resulting in the locking of our bank accounts and the denial of our freedom to transact.

The use of money and how it is saved, sent, spent, and secured, should be free. A survey conducted by the European Central Bank has found that both citizens and businesses consider privacy the most important feature of a CBDC. For CBDCs to be beneficial they are open, permissionless, and private.

by Ilias Louis Hatzis is the founder and CEO of Kryptonio wallet.

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Why banks should engage citizen developers for digital transformation

While the traditional linear model of software development – where IT teams create and deliver applications and tools to business users – has been in place for decades, citizen development, a business process that encourages non-technical users to build their own solutions, is now bucking this antiquated trend. In fact, industry analysts suggest that by 2025, 70% of new applications developed by organizations will be built by enterprise team members creating their own solutions in a streamlined low-code or no-code environment.

Why citizen development?

Art Harrison, co-founder and chief growth officer, Daylight

In an era of ongoing digital transformation and rapid innovation, banks are under pressure to offer personalized on-demand customer experiences by driving greater efficiencies through automation. In fact, the market for automation and AI in banking is expected to top $23.3 billion in 2022, an increase of $6.8 billion, or 41%, from the year prior. And while many banks have been investing in low-code platforms to support their IT teams, the rise of citizen developers can further elevate the status quo in a positive way.

Here’s the problem: In a traditional enterprise workflow, the IT team works on a solution that they often only have secondhand knowledge of. Not only is this more time-consuming and expensive from a business standpoint; it increases the risk of failure and could lead to multiple iterations, resulting in wasted time and money. This is why the citizen developer model is extremely attractive to banking institutions. Using the right low-code solution enables a non-technical team member to solve a problem with firsthand knowledge of the specific pain points that need to be addressed. This is a much more efficient process.

This evolution of business problem-solving greatly benefits IT teams, as nearly three-quarters of IT leaders say that backlogs prevent them from taking on new strategic projects, while 89% believe low-code tools will enhance IT staff productivity.

The challenge with citizen development

However, giving citizen developers full autonomy to create whatever is in their mind’s eye could create more work for IT in the long run. In fact, if something goes wrong with custom-built systems, the IT department is responsible for fixing it.

In some cases, banks purchase tools to facilitate citizen development only to watch it backfire. In these instances, non-IT resources have built solutions in isolation with no input from IT and no guardrails in place to ensure that the solutions would work long-term. Unfortunately, this type of citizen development doesn’t benefit anyone – IT is called on to help clean up the mess, business teams have to write new requirements, and the customer continues to wait for an improved process.

Empowerment with IT support is the answer

The answer is to empower business users to build their own solutions while having IT support with data flow, governance, security and compliance. To do so, organizations should leverage a low-code platform that is designed for citizen developers but also balances IT’s concerns.

The right low-code platform puts the proper guardrails in place – IT doesn’t have to worry about citizen developers cobbling together a solution that disrupts the organization’s tech stack. It also allows for quick prototyping, so feedback can be gathered along the way, without taking up IT’s time.

For example, a financial advisor might be frustrated by the paper forms they have to get their customers to fill out when they want to transfer their assets. The process is manual, error-prone and takes a lot of time for the back office to process. If an error is discovered, the customer is called to rectify the issue and the administrative process has to start all over.

With the right low-code platform, instead of waiting for IT to digitize the form, the financial advisor can sit down with a business analyst and map out the entire process. They can decide what customer information they have to capture, launch the new digital experience quickly, test it out on a few customers and then tweak any issues they uncover. And they can do all of this without needing to worry about where the data ends up. The right low-code platform can allow the customer experience to be transformed while the data output remains untouched.

How banks benefit

The COVID-19 pandemic has been an unfortunate force to reckon with for everyone. It’s also been a catalyst for change in the financial sector, forcing banks to accelerate their digital transformation efforts. However, banks leverage technology across multiple business operations, and they quickly discovered the limited availability of skilled IT talent, which slowed things down. So, they’ve turned to citizen development to keep projects moving.

By using the right low-code platform, citizen developers can build processes across different banking functions, such as customer or employee onboarding, lending solutions, credit card applications and more. When citizen developers build their own processes, they can perform their jobs more efficiently, help banks save on operating costs, help reduce IT’s backlog, and improve the employee and customer experience.

For example, a large financial institution was working to make their small business credit card application process easy and intuitive by offering online applications. The institution needed a consistent, omnichannel experience across all branches that would reduce errors, improve customer experience and attract new customers. With their own internal IT resources overwhelmed, the bank utilized a low-code platform that empowered their subject matter experts to become citizen developers. They transformed their small business credit card application process into a personalized digital experience without IT’s help. It improved the customer experience and saved the bank money, time and resources in the process.

The time has come

Citizen development has the potential to democratize technology in the financial industry. Low-code platforms have progressed from merely making technology more accessible to allowing non-IT resources to develop sophisticated apps with proper IT guardrails in place. They can be used to empower business teams to solve challenges without overwhelming IT resources, resulting in a clear path to digital transformation at scale.

Art Harrison, co-founder and Chief Growth Officer at Daylight, is an experienced entrepreneur and leader with over 20 years of experience developing and delivering production-grade solutions. With a background in computer science and software development, Harrison was previously vice president at iNTERFACEWARE and previously founded MXD Communities in 2001.

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