On which programming languages do companies rely when building new software? Which one of them is the best to learn regarding Fintech, finance and banking in 2022?
There is no doubt that FinTech has changed the way financial services and products are delivered to consumers. It reshaped how financial institutions work – from serving the customers to attracting investors. When building a FinTech, banking or finance product, companies have to choose the right programming language. There is a variety of areas in which programming skills are crucial: FintTch app development, financial modeling, simulations, data science and AI algorithms. Which programming language to choose for FinTech then? Take a look at our list!
When it comes to security, Python is a reliable choice. It’s commonly used in fintech products in automated trading, cyber-security (including fraud detection), personal finance, customer service, and risk management. Moreover, with its robust frameworks like Django and an abundance of open-source libraries, creating software is super-fast. As a high-level programming language operating on strong abstractions also makes the language easier to learn. With these characteristics, a lot of businesses rely on it, such as our Partners for which we are actively providing services. For various projects, at NATEK we have many open positions with Python. Click here to discover them!
With its enormous popularity, it’s hard to point out the industries which are not using Java. It’s also extensively used in the financial services industry. Java’s strengths are undoubtedly enhanced security and cross-platform capabilities. Moreover, it has holistic compatibility – the programs are written two decades ago still run on the latest JDK (Java Development Kit)! As a “lingua franca” it comes with the data-intensive applications for most of the industry’s leading DIA technologies (e.g., Hadoop, HDFS, Solr, Lucene, Flink, Cassandra). If you are a Java developer, see our open vacancies here.
The popularity of Java paved the way for Scala to come in and offer a whole ecosystem of advanced libraries. Financial products are high-end distributed software systems that usually operate on vast amounts of data. Scala is good for handling it as it’s really productive – it enables developers to reduce the size of the source code. The difference is at least 2 or 3 compared to Java. Additionally, the most popular frameworks that facilitate the lifeblood of FinTech, Big Data, are developed with Scala.
Not only in Telecommunication (you can read more about Telecommunication in our article) but also in finance C++ Developers dominated the market. No wonder most legacy bank systems are built on this language. The popularity of C++ is reflected by the number of projects, for which C++ specialists are in demand: review the projects here.
Data and financial records form the backbone of financial analysis and going further, for the financial software. Structured Query Language (SQL) is a special-purpose programming language for data storage, analysis, and manipulation with applications in finance. Therefore, not only Developers should be familiar with it, but also System Analysts like ours, working for one of the biggest banks in Europe. Curious about the job requirements? Click here.
7. React JS
Estimates as high as 80% of financial transactions use common business-oriented language or COBOL. The language is 60-year-old but still powers the global economy. Many predicted its death, but the scarcity of COBOL Developers made this language a niche skill. After all, it’s the fastest processing language worth a small fortune waiting to be seen by the programming students. Get more info about COBOL Development positions here.
VBA goes hand by hand with Excel, the primary tool of every corporate employee! Bankers and traders use VBA daily, but sometimes they need some help in creating more advanced macros. This is where a VBA pro steps in! Reporting, business, and financial analysis – this is where automation is key! Check out our positions with Excel skillset.