How Banks and Insurers Can Build AI-Ready Applications Faster

By Maneeza Malik, Product Marketing Director

Banks and insurers are racing to deliver AI-powered digital experiences, but many are held back by increasingly complex application environments. Every new customer portal, mobile app or AI initiative depends on applications that securely connect data, systems and workflows.

Customers expect seamless digital experiences, while employees need applications that automate work and simplify complex processes. The challenge isn’t generating new ideas; it’s delivering them without adding to an already fragmented technology landscape.

According to McKinsey, the average number of applications used by banks increased from 133 to 224 per $1 billion in revenue between 2013 and 2022 — a 68% increase. As application portfolios grow, integrating systems, APIs, data and business processes becomes increasingly difficult.

For CIOs, success isn’t about building more applications. It’s about building AI-ready applications that are connected, scalable and designed to evolve with the business. By leveraging low-code solutions, banks and insurers can build these applications and modernize their services—without completely bulldozing existing legacy systems or compromising security.

Legacy Systems and Fragmented Technology Are Slowing Innovation

Legacy platforms remain the backbone of banking and insurance and they’re not going away. The challenge is extending core systems while navigating a growing mix of point solutions, custom integrations and disconnected applications.

Building a new customer portal, mobile app or employee workflow often requires connecting multiple systems, APIs and data sources before delivering any business value. The result is longer development cycles, higher costs and growing technical debt.

To modernize at speed, CIOs need a faster way to build secure, connected applications without adding complexity to an already fragmented technology landscape.

Modern Applications Power Better Banking and Insurance Experiences

Applications are where customers and employees experience digital transformation. Whether it’s digital banking, account opening, policy servicing or claims management, every interaction depends on applications that connect enterprise systems, data and business processes behind the scenes.

Consider a digital insurance claims application. Customers expect to submit photos, upload documents, track claim status and receive real-time updates through a single experience. Delivering that experience requires seamless integration with claims systems, policy data, document repositories and payment workflows.

The same is true for employees. They require modern applications that streamline workflows, reduce manual tasks and provide access to the information needed to make faster, more informed decisions.

AI-Ready Application Development is Connected and Intelligent

AI is changing how applications are built and what they need to deliver. Modern applications are no longer standalone experiences. They must securely connect enterprise data, systems, APIs and workflows while embedding AI to automate tasks, surface insights and improve decision-making.

This type of unified low-code development platform allows banks and other financial institutions to:

• Rapidly build secure web, mobile and system applications using low-code development.
• Accelerate development with AI assistants leveraging conversational AI capabilities to help developers and business users create, manage and enhance applications throughout the application lifecycle. By interacting with AI through natural language, teams can simplify complex development tasks, generate solutions faster and improve productivity.
• Connect applications, APIs, systems and data through built-in iPaaS capabilities and Model Context Protocol (MCP) support, enabling secure connections between AI agents, enterprise systems and business data.
• Deploy securely at scale with enterprise-grade governance, security and compliance.

Together, these capabilities create a modern development environment where applications are built faster, connected by design and ready to support AI from day one. Instead of stitching together point solutions, development teams can deliver intelligent applications that evolve with changing business needs and provide the foundation for future innovation.

Building AI-Ready Applications Faster with Jitterbit

To support AI initiatives at scale, banks and insurers need more than a standalone application development tool. They need a unified platform that combines application development, integration, automation and AI capabilities.

Jitterbit App Builder, part of the Harmony platform, enables organizations to rapidly design, build and deploy secure web, mobile and system applications using low-code development and AI assistance. Built-in integration capabilities connect enterprise systems, APIs, data and workflows to deliver intelligent applications and seamless customer and employee experiences.

With Jitterbit, financial institutions and insurers can:

• Accelerate application delivery with a low-code development environment that enables teams to rapidly build and deploy secure applications while increasing agility and responding to evolving business needs.
• Increase developer and business user productivity with the App Builder AI Assistant, which uses conversational AI to help users create, manage and enhance applications using natural language. Teams can simplify app development, reduce complexity and empower more users to innovate with AI-powered guidance.
• Create connected applications by leveraging pre-built integrations, APIs and Jitterbit MCP to securely connect enterprise systems, data sources, workflows and AI agents.
• Maintain enterprise security, governance and regulatory compliance with comprehensive controls designed for financial services requirements.

Harmony provides a unified, low-code, AI-infused platform that combines application development, iPaaS, API management, integration, workflow orchestration and agentic AI capabilities in a single environment. The result is secure, intelligent applications that improve customer experiences, increase employee productivity and advance AI initiatives at scale.

As AI reshapes financial services and insurance, success will depend on how quickly organizations can deliver connected, intelligent applications that evolve with business needs.

Ready to Build Intelligent Applications?

Learn more about how Jitterbit’s low-code platform helps financial institutions and insurers build connected, AI-powered applications that accelerate innovation and business outcomes: