Bespoke Apps Bridge the Gaps
Mindful leadership can get people and processes to work in perfect coordination for both common tasks and overall business success
Even though grandmothers use debit cards to buy bread and the younger generation day-trades on sophisticated websites, there remain inefficiencies inside the infrastructure for the management of the financial industry.
Some companies suffer from uncoordinated communication. Most still generate reams of paperwork. Many email clunky Excel documents around the office.
Often, companies are locked into a large, all-encompassing system that doesn't actually cover every business-critical operation. Perhaps worse, they are too slow or unable to adapt to take care of smaller nuisances.
That is where the Jetveo Platform and App Builder steps in. It is a low-code programming system that provides bespoke software to bridge those types of internal-operation inefficiencies. For example, one app was created to reduce the time it takes to include electronic tags in official documentation. Another empowers customers to provide their own data with automated forms. Another establishes a full-company scheduling process to streamline the flow of information and data through departments. And, a universally usable app, securely maintains logins and passwords for routers and software.
The best part is that the Jetveo low-code software enables apps to be completed quickly, inexpensively, and to demanding specifications. Low-code is in the sweet spot between classic programming, which requires advanced knowledge and complex coding, and no-code programming, which is based upon a drag-and-drop visual interface. Low-code programming combines the best elements of both: the flexibility and customization of classic programming and the simplicity and speed of no-code programming.
Jetveo will be on site at the Ninth Annual CAFIN IT Conference for Finance on Oct. 13 in Prague to spread the word.
• Jetveo CEO Dalibor Houfek will expound upon low-code programming in two presentations:
- A keynote talk titled “How to deal with costly application development and slow digitization of internal processes” is in the main room at 9:45 a.m.; and
- A workshop titled “Experience of companies with low-code development and digitization” at 11:15 a.m.
• Jetveo will also have a booth for consultations about the specific ways that it can help companies bridge gaps.
Here are some examples of the bespoke apps that were built on the Jetveo Platform and App Builder:
All industry has a certain amount of regulations and rules and oversight. The financial industry has more. Keeping all of the financial data organized and accessible is paramount (and time consuming). Unless, of course, you are able to create an application that combines financial data, dynamic text, templates, and XBRLS and IFRS tags.
The Czech National Bank requires an annual report that includes tags (i.e., XBRLS/IFRS tags) that can be accessed digitally. This required time-consuming and manual work for more than a hundred funds. Other solutions that were available on the market were expensive and not ideal.
Tools on the Jetveo platform enabled the creation of an application to read the account data from ABRA software and then generate a draft report based on defined templates, text, and tags. This made the text accessible to all of the important parties involved: accountants, auditors, and fund owners — and, most importantly, the Czech National Bank.
Development time with Jetveo — 22 hours
How do you get information from new customers? Meetings take time. Paper questionnaires and forms are cumbersome. And, once you have the information, getting it into the system is both time-consuming and prone to error. Why not create a simple CRM system to automate the loan credit-risk process? Let the potential customers enter their own data online and put their information directly into the system.
A crowdfunding platform that is open to investors is only as good as its projects. finGOOD needed to collect financial data — 250-plus fields with a lot of associated data — for prospective projects so that it could then be easily processed and evaluated.
The company's CTO used Jetveo tools to smooth out the system: new clients use a public-facing form to enter their basic financial data. The data is provided to internal staff for the initial evaluation of the risk assessment. If it is a good fit, additional data are requested for the more detailed analysis. There can be a lot of back-and-forth communication, which is made efficient through the dynamic app. The app started as just a form, but workflows and business logic were added to, in essence, create a customized CRM.
Development time with Jetveo — 15 hours
Time means money. When you wait for paperwork to flow through a company, the clock is ticking, customers are getting antsy, and the competition is ready to take away your potential clients. Full-company digitalization can speed everything up.
The scheduling process was outdated. The flow of paperwork was terribly inefficient. Snail mail was used to deliver contracts. Potential clients had to wait days — sometimes up to two weeks — to get a final contract signed.
Allrisk used Jetveo to streamline the process of scheduling appointments and reviewing contracts. The new app allows representatives to take a picture of final contracts with a mobile phone and send the electronic version. The control department, in turn, reviews the contract immediately and returns it with comments, requests for additional information, or for final completion. Specifically, tools were put in place to:
- Assist brokers with scheduling appointments and recording deliverables;
- Replace the lengthy process of mailing physical contracts;
- Guide brokers through the process of digitizing the contract;
- Guide employees through the contract review process;
- Record status changes and document history;
- Handle different levels of access and permissions;
- Provide tools for capacity planning; and
- Provide reporting options.
Development time with Jetveo — 7 hours
Do you have a specific issue that you would like to smooth out? Are there gaps in your communication or inconsistencies in your task workflows? Would you like to digitalize more paperwork?
Consult with Jetveo about bespoke applications that can be created specifically for your business and your specific requirements.