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What is the best Fintech Development Tech Stack?

There are various technologies for custom financial software development in the market. It can be tools, frameworks, programming languages, databases, and more, writes Kibo Hutchinson



Best Fintech Tech Stack
Fintech Tech Stack

Table of Content

  • What is Fintech Development?
  • Benefits of Fintech Development
  • Top 5 Technologies that Help Fintech Development
  • Conclusion

Fintech came into existence in the 1990s when the eCommerce business models emerged. And from that time onwards, the development of fintech has kept on evolving. With the increase of fintech development, now tech-savvy customers have started using mobile applications for loan management, investing, money transfer, and lending instead of visiting the bank. And with this type of acceptance result, banks are providing more and more flexible solutions to their users.

But the question is which technologies do the financial software development companies use that make fintech solutions safe and secure for the users. Therefore, in this blog, we will learn more about fintech development and see what tech stack is best for it.

What is Fintech Development?

Fintech means financial technology. It refers to software and modern technology that businesses use to automate and improve financial services.

Fintech is basically the industry where the banks and financial companies use innovative operations with the help of tech companies. It offers innovative progress like the way mobile payments have changed our financial management system.

Benefits of Fintech Development

Besides making banking more rapid and easily accessible, technological advancements have influenced many things.

  • Fintech develops the relationship with the customers by coming up with Crowdfunding platforms.
  • It provides various online payment options like GooglePay, PayTM, PayPal, and banks’ own applications.
  • Fintech development has also disrupted the insurance industry by providing online policy handling applications.
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Top 5 Technologies that Help Fintech Development

There are various technologies for custom financial software development in the market. It can be tools, frameworks, programming languages, databases, and more. But the best tech stack solves the unique challenges of fintech and provides the perfect solution. For this, some of the best technologies are –

1.   Python

Python is one of the most ideal choices when it comes to providing financial solutions. It helps in creating hedge fund industry solutions and investment banking software.

Python has the ability to solve problems like trade management, pricing, and risk management platforms.

It has many answers to offer for the challenges that the financial industry faces. Be it regulations, compliance, analytics, and data, Python deals with everything with the support of various libraries.

Besides, Python comes with various open-source financial libraries like NumPy, SciPy, Zipline, Pyalgotrade, Pyrisk, Pynance, ffn, and Pyfolio.

2.   Java

Java is one of the leading programming languages in the world of financial services. Java is a technology that offers the best security options and it is convenient enough for implementing huge programs that carry large amounts of data. Besides, Java is a secure programming language with a powerful security manager and runtime constraints. In recent times, Java is transforming chatbots development, investment & trading sector, fraud detection systems, and mobile wallets for the best.

3.   C++

The Fintech industry uses C + + for programs where execution speed is the priority. C++ is a programming language with the highest efficiency. It is usually applied to programs that require various operations and advanced computations very quickly. Basically, C++ is a technology that is perfect for quantitative finance and analytics projects.


4.   Ruby

When it comes to fintech development, Ruby is the technology that is chosen by many of the banking software development companies. It is a quite popular technology and helps developers to create asset management systems, digital payment systems, analytical & financial dashboards, and e-wallets.

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Ruby is a technology that comes with a ready-made plugin. Besides, it is the main framework for creating highly secure and scalable apps. And this makes it a great choice for fintech development.

5.   Kotlin

Kotlin is an open-source language with a modern touch. It is used to build web applications and mobile applications for Android. It is known as a perfect replacement for Java.

Kotlin is a great choice when it comes to mobile app development for secure products and modern digital banking services. Besides, Kotlin is a language that is compatible and highly performant with any type of Java application.

It comes with a broad range of frameworks, tools, and libraries. In addition to this, Kotlin has a test concurrency model that is stable.

Besides the above-listed technologies, some of the other fintech front-end development and back-end development technologies are – LAMP, AngularJS, ReactJs, MySQL, MongoDB, HBase, and more.


As seen in this blog, there are many different technologies available in the market for fintech development. So, if you, being a financial software development company want to create a robust solution for the financial services, selection of the right technology stack becomes very difficult.

You will have to select the tech stack that is scalable, flexible, secure, and fault-tolerant. Besides this, one more thing that the fintech developer must be careful about while selecting the tech stack is that the selection of technology must take the product’s lifeline from 1 year to 10 years.

*Kibo Hutchinson is a Business Trend Analyst at Tatvasoft, UK

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