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.
Accelerated time to market
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 startup 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.
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.
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.