Fortia is a company created 10 years ago, with the primary objective of helping financial institutions in the automation of their process, in particular because of regulatory requirements. As the company was founded in 2012, just after the subprime crisis that began in 2008, it was necessary to respond to a regulatory avalanche, which brought a whole lot of new regulations to the world of finance. At the time, the technologies that financial institutions were using did not allow them to comply quickly, due to these new regulations. Fortia therefore aimed to introduce new technologies such as artificial intelligence, process automation and the processing of large amounts of data.
We therefore wanted to bet on all these new technologies, with big data and AI as a priority, to first apply them through a completely new offer in the financial world. We then, with development, launched a no-code platform in early 2021, still based on these AI engines.
We then went further, with more complex use cases, and this is where we introduced a no-code approach. Instead of developing new technological bricks each time, we have created 2OS, a SaaS platform with a no-code architecture and which has a set of technological bricks, allowing the automation of end-to-end processes as well as a time to market and an unprecedented ROI on this type of technology.
This need for data processing and automation of processes is not only the fact of the world of finance, because we are no longer confronted with an avalanche of regulations but with an avalanche of demand for application development, in particular with 5G, and connected objects. In the next two years, we will develop as many applications as in the last 10 years. In fact, our no-code platform also addresses another problem for companies, that of the shortage of developers in the world. We must therefore respond to this desire, which is to go ever faster between the expression of the need on the part of the trades and the start of production. Through classic developments, we spend an extremely long time understanding, developing, testing, debugging, etc. Thanks to our platform, the time is considerably reduced, which allows an extremely important ROI, and the possibility of supporting the customer in understanding his needs and modulating the application in record time, taking into account the fact that we are in a world in perpetual motion and any need can change at any time.
What is the added value of your No Code platform?
We are the only ones in the world to be able, thanks to a simple drag & drop, to use very advanced AI algorithms, which are the result of 10 years of R&D, and what is called Deep no code. We are the only ones on this market today with such a high level of algorithm quality. Our starting use case is that updating processes takes a lot of time, and Fortia offers a third way to build-it or buy-it, namely designing a platform from scratch. No-code therefore eliminates the need to waste time with processes, and Fortia has also automated the DevOps part in the cloud.
How do we manage to reconcile our code and AI?
We started from the observation that AI is part of our daily lives. Our smartphone, for example, will suggest an image to us, help us take a photo. However, AI is not yet widely adopted by businesses. There are of course industries and professions that use AI, but most do not use all of its capabilities. Today, according to studies, more than 85% of AI projects never go into production. It’s one of the big challenges. Very often these are tedious projects, AI is very dependent on data, on their quality, and marrying AI to a no-code approach is a virtuous circle in the sense that no-code allows us to go very quickly on the data models in relation to the business needs (a new product or a new regulation), on the processes around the data that must be executed, and connect that to the AI services that are available on our platform. The difficulty is that we have our teams of data scientists who work with the engineers who make the software, so the no code, and ensure a life cycle of the data in order to connect it, in plug & play mode to our trained algorithms. That’s Deep no code: having AI that can be used directly on the data.
Why do we always need development?
This has above all to do with the current digital transformation that is taking place. We talk a lot about legacy-type technologies on which most back offices run, for example, and there is a lot of code there. There are recent studies that show that the volume of the code is 100 times higher if we compare it to what existed a decade ago. And these volumes of code increase with each new need. But all this has a limit, because if lines of code are completed with old architectures, the systems then become very difficult to maintain and developers are cautious about adding or modifying the code for fear of breaking it. dependencies and break a running critical process. This leads to an almost total loss of agility. This is the main limit of the code today. Although it is possible to create apps, platforms etc. stable, they remain difficult to modify and have expensive maintenance costs that are higher than investments in new projects. Today, more and more CIOs are studying the option of this type of no-code platform for carrying out projects. The objective is not to make POCs on simple things but to make scalable applications that “process” a lot of data via a cloud architecture, in Saas mode and which allows scalability.
So the logical sequence of things is that we won’t have to code anything anymore?
We think that the majority of what will be coded will be with no code type architectures which are very scalable and the devs, instead of developing the same thing in several places, will have to think about their architectures in order to be able to combine the platforms . We have a revolutionary platform, but it’s also a market trend. The United States, which is 2-3 years ahead of Europe in adopting this type of platform, manages all processes with 6 or even 7 no-code technologies and this is the case for stacks whole company technologies. Whether for the mobile application, business applications, no-code for websites, or the use of AI.
We talk a lot about the weight of legacy in code today, but if we combine no-code technologies, won’t we finally be faced with the same problem? Isn’t there a risk of legacy at the application level?
In general, no-code platforms are not black boxes. And when we talk about legacy, it’s very often a system that has been coded, with old code, by people who are no longer there and you have to try to put yourself in their shoes to try to understand what they wanted to do. It is titanic work. No code is not a black box, in the sense that when you create an application, you don’t mix business logic with the technical aspect. This makes it very easy to transpose everything that has been done on a no-code tool. You don’t lose the application logic at all. It is one of the elements of the no-code architecture, to be able to understand what has been done. We also talk about self-documenting applications. Before when we made a code, we had to document everything that was done. While with no-code there is a certain transparency, you can directly export all the no-coded logic, which is therefore available to everyone.
Is it possible to migrate an already coded app to no-code logic? And if yes, how ?
It’s better to start with something that already exists anyway, especially if you already have stored data and processes. In no-code you can build the app yourself via the UI but if you give the app some existing data, it generates the app for you. This is also one of the recent evolutions that we have made on our platform, you provide the platform with a certain type of data, for example customers, products or transactions and the platform generates the data models and screens required for your application. You can then design the processes whereas before you had to code the business logic yourself.
We would like to thank the writer of this post for this awesome material
Miroslav Petrov, co-founder of Fortia: “Wishing to push no-code to its climax, we created Deep no code”
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