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No-Code and the Growth of FinTech

October 5, 2022

The global FinTech market will is expected to earn up to  $179 billion by end of 2022. Experts predict that it will grow up to $225.1 billion by 2027, growing at a 12.9% CAGR. This is a tremendous growth considering five years ago, it was just worth $90.5 billion. It has been dubbed as the great disruptor in the financial industry and is continuing to change how people make their purchases whether online or in-store. 

Financial Technology (FinTech) represents a combination of financial services with Information Technology (IT) that is disruptive to the incumbent financial system as it transforms financial services. It’s hard to imagine that back then everyone was hesitant to use fintech due to security reasons. The pandemic accelerated the adoption of this technology as e-commerce became a necessity. Countries that dominate the FinTech market are USA, UK, China, Germany, and India. Right now there are an estimated 30,000 FInTech startups and it has been growing since the demand is still on the rise.
FinTech is a growing technology same as no-code. Right now, no-code development is growing in usage as pioneer platforms become more sophisticated, easier to use, and more flexible in their output. How will these two up-and-coming technologies coexist with each other and how will they push the boundaries of legacy financial management systems? Read to know more about the exciting future of FinTech and how no-code will contribute to FinTech’s growth.

Fintech At Present

Back in 2012, investments in fintech were just around $4 billion. Fast forward in  Q1 and Q2 of 2021, investment in reached an all-time high of  $98 billion - a $19.9 billion increase in the second half of 2020.  At the end of 2021, fintech investment reached $210 billion. Almost two out of every three banks and credit unions are a part of at least one fintech partnership over the past three years already.

FinTech’s growth is inevitable as more services and interactions happen digitally. One of the most successful and mainstream FinTech products are digital payments which hold 25% of the market. Here are some examples of FinTech and see what you have been using so far:

  • Digital Wallet
  • Cryptocurrency
  • Small business loans
  • Robo-Advisers 

Growth is driven mainly by the rise of digital financial services and more people using FinTech as their primary source to handle finances.  These are the services that are driving the growth of FinTech right now.

Software-enabled services

These types of firms focus on creating innovative applications and services such as Amazon Web Services or Stripe. The software segment is the largest segment with 47% of the total global market share

Financial services

These are for companies that want to update their services on top of what they are offering

Platform Providers 

These companies offer products helpful in building larger applications or host additional services to support the main product.

Warren Buffet has also shown signs of investing in FinTech having backed NuBank in Brazil. This paid off since NuBank, considered one of Latin America's chief proponents of expanding access to the financial system, also said its investment services business in Brazil surpassed 6 million active clients.  This is on top of his investments in Metaverse with Activision Blizzard and NFTs via Snowflake.

FinTech Future

It is predicted that numerous banks look to become service providers to non-bank and non-financial institutions looking to deliver a customer experience or service proposition involving financial services as a component of a larger offering. With the rise of mobile payments, mobile transactions are projected to grow by 121% by end of 2022.. This will eventually comprise 88% of all banking transactions.

Banks must embrace a data-centric approach to personalize their services to customers. Personalization prioritizes services that are relevant to customers for frequent usage and more strategic selling.
Trends like these can be supported by no-code. Established banks are now embracing no-code because of its benefits in the following area 

Financially More Efficient

With no code's visual development, building apps or websites are faster than traditional coding, This means lesser hours to do it and a faster launch for your business. 


To keep up with personalized services, no-code allows businesses to create short-term usage products like MVPs. 

Benefits of Using No-Code for FinTech 

When it comes to FinTech, agility is one of the key factors. Being able to keep up with the fast-paced evolution of their customers can mean success in a project. With the talent gap happening right now in It industry, no-code can be an option in digitizing financial services. 

Here are some benefits of using no-code for financial establishments

  • Faster turnover between business decisions and expansion issues
  • Implement and revise new functionalities even in just a few hours
  • 30% savings on the front-end development annually
  • Creating customized offers, streamlining processes and application features

FinTechs like Qoins have been successful starting off their business from Bubble, a no-code platform. Qoins is a financial app that helps its user to pay off their debts. They started with Bubble as an MVP and has continued on it even as its grown. Other businesses that hanrssed no-code are  BCB Group and Dividend which some predict are heading towards being potentially the first unicorn. These kinds of businesses show r that the next big fintech is going to use no-code development. 

Challenges of No-Code for Fintech 

Change will always take time and for now no-code is not yet fully harnessed.. As a new technology, this is expected as users and the technology itself matures. Her are some things to look out when planning your own FinTech using no-code 


As we discussed in our blog, Cybersecurity in No-Code Development , security is a major issue with no-code platforms. There has been great strides already in no-code security already and we expect more to come in the coming years


Growth is an essential part ofa business. As Qioins has shown, scalability is possible even in no-code platforms. As you want more customization, you can transition to coded website without business interruption. 

No-Code as a Growth Factor in FinTech 

FinTech is growing in scale as more people adopt this new technology. 60% of consumers want to transact with financial institutions that provided services on platforms such as social media and even banking apps. After all, time is money and waiting for bank services are unacceptable already. 

No-code lets businesses access technology easier and faster especially with challenges such as shortage of developers, high costs and long development time. With no-code these barriers are eased if not removed from the process. It also lets businesses be more flexible with their offerings adding more value to consumers. 

Have a FinTech solution in mind? Let our team of experts work with you to make your ideas come to life with no-code. Click HERE to book a FREE consultation at your convenience.
Want to see what projects we did already? Click THIS LINK to see what projects have we finished and what we can do for you. 
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