Planning a Fintech startup? At
this point, along with the goals and objectives for your startup, you also need
to plan the technology stack you should use. It is one of the many decisions
that you cannot get wrong.
The tech
stack should be futuristic, and should have no issues when the need for scaling
arises. It is important that you choose a mature and high-performance stack,
which will help live up to the expectations of the users in this segment.
If
you look at some of the financial giants to check what they are using, you
would see that most of the Fintech websites are built using Python. Both
J.P.Morgan’s Athena program and Bank of America’s Quartz program have been
built using Python, and one of the reasons can be attributed to the
quantitative problem solving ability offered by this language.
Why
do you think startups in Fintech industry are raving about Python, and using it
to produce better results? Here are a few reasons we can think of.
Simplicity is the key
If you are planning to develop a
financial services platform, let us start by telling you this is a complex
structure. You should ideally use a language which allows for easy coding and
better readability. This is the first reason why most fintech startups opt for
Python. The syntax is easy, unlike the traditional languages such as Java and
C++. A 10 line Python code is equivalent to the 20 lines of Java code. This
simply means there are fewer chances you would end up with errors in your code,
which is preferable in this industry.
The Fintech segment is an
evolving one, with more players than you can count on your fingertips, each one
deploying a different standard every second of their existence. You need a
framework that offers high levels of performance and can match the standards
required by the application. At the same time, you need to lower the cost of
deployment as well as the time taken to launch the start-up to the market.
All
your needs are easily fulfilled by Python. Python allows you to code faster,
and offers you an alternative language that keeps up with your need for speed.
Python takes fewer hours than most of the programming langauges to solve a
problem on hand.
Improved collaboration
It is important for a Fintech startup to have people or resources that can
effectively collaborate to produce the best results. This collaboration is part
of Python’s advantages. It allows developers to work closely with researchers,
analysts, data engineers and the CEO to produce the results they have been
planning for.
The
popularity of the platform can be attributed to this efficient design, which
allows for healthy collaboration.
Conclusion
Being an open source platform, it allows the developer to integrate several
libraries and frameworks. The platform is a mine of many tools and third party
libraries which helps in developing an apt and logical solution.
If
you want to develop your Fintech idea into an able solution, connect with
Seashore Partners. Our Python development
services will help accelerate the launch of your startup.
This Article is Originally Published at Seashore Partners Official Blog
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