Research from several renowned organisations and bodies, including multinational accounting firm, PricewaterhouseCoopers International Limited, reveals that the digital economy has the potential to contribute 25% to the global GDP.

On a continental level, its contribution is projected to exceed $712 billion by 2050. Africa already has the working-age population needed to harness the potential of this economy, however, for this to become a reality, there is a need to develop the requisite skills to harness the burgeoning digital economy.

An in-depth study of the continent’s working-age demography reveals that a large segment of its youths have an interest in tech.

This is good news because there are many opportunities on the global corporate landscape for these tech enthusiasts to harness, launching them into careers that are not restricted to a single country or continent.

In Nigeria, where a technology renaissance is in full bloom, there is a gnawing need for tech talents within both tech and non-tech companies.

A McKinsey survey of 3.5 million job postings for roles attuned to the tech trends sweeping the globe, it is evident that there are more roles than qualified professionals.

Yet, companies are more enthusiastic about hiring experienced professionals than greenhorns; this has led to a raging battle for tech talents across the global corporate landscape.

Considering the gaping disparity between the available talents and enthusiasts, the solution to this dissension is to invest in and leverage the untapped talent pool that exists.

In Nigeria, one company that is championing this is Jumia, a leading Pan-African technology company that currently offers e-commerce and payment solutions services to millions of Nigerians across the country’s six geo-political zones.

With the knowledge that experience in any given field is the pathway to increased expertise and economic stability, Jumia is opening its doors to give tech talents across Nigeria positions with its structure.

These positions serve as opportunities to strengthen already existing skills and gain new ones ranging from DevOps, UI/UX Design, Site Reliability Engineering, Data Engineering, Tech Support, Backend and Frontend Development, Mobile Engineering, Product, Security and Cybersecurity amongst others.

The company’s commitment to local talent development is also about creating meaningful, high-impact employment opportunities.

In a region where unemployment remains a pressing issue, Jumia is leading the charge.

By recruiting local talents, the company contributes to economic growth, social upliftment, and personal fulfilment for countless individuals.

In addition, the ripple effect of Jumia’s local talent recruitment strategy extends far beyond their workforce.

With a position at Jumia, present and prospective employees play crucial roles in the development of Nigeria and Africa’s tech ecosystem.

This translates into a pipeline of experts who are working assiduously to make the potential contribution of 25% to the global GDP a reality.

According to Enitan Oyenuga, human Resources Director, Jumia Nigeria, the purpose of the recruitment drive is to provide invaluable opportunities for career growth to tech talents within Nigeria and Africa.

Speaking on this, she said,

“The sustained technological evolution the world has witnessed in the past few decades has made it expedient for everyone, particularly those in the tech space, to engage in a continuous cycle of learning, unlearning, and re-learning. The tech sector is unique because new trends pop up every day and these trends create demands for skills that were hitherto either nonexistent or simplified. With the recruitment drive, Jumia is providing numerous tech talents with an ecosystem where they are always ahead of the curve caused by the continued evolution in tech. This way, our employees remain catalysts in the tech ecosystem.”

Another strategic way the company has created and provided an invaluable ecosystem for tech talents to grow, innovate and proffer solutions to real-life challenges is through its Jumia Tech Hub.

First launched in Porto, the Jumia Tech Hub has given and continues to give hundreds the opportunity to learn from their counterparts in highly competitive markets.

With the impact the Hub has had in Porto and then in Cairo, projections on the impact the Tech Hub will have on the Nigerian market and global digital economy are promising.

Additionally, apart from the Tech Centre in Porto and Egypt, Jumia has two promising hubs in Kenya and soon in Nigeria, further solidifying its presence in key African tech ecosystems.

As Jumia continues to innovate locally, its impact is being felt globally. By nurturing the next generation of tech leaders and driving technological advancements, Jumia’s commitment to tech talent excellence is a testament to the idea that when you invest in local communities, you have the potential to impact the world.

The success of fintech is hugely linked to the growing digitalisation. Several fintechs offer software products as their main or complementary services.

Therefore, it is vital to have a strong backend technology to provide the necessary infrastructure for fintech platform functionality.

The backend handles the server-side operations of web applications that are not visible to the user.

This is crucial for app functionality, encompassing server setup and maintenance, database management, API integration and strict data security.

Given the complexity of functions of the backend development, it is obvious that securely and competently handling and storing financial data should be core in any fintech company.

Some common backend frameworks include Express.js (Node.js), Django (Python), Flask (Python), Ruby on Rails (Ruby), Laravel (PHP), Spring Boot (Java),  and ASP.NET Core (C).

While there are several backend frameworks, fintech needs to analyse the challenges and difficulties of their backend before choosing one that best suits them.

This article will guide you on which framework, between Django, Spring Boot, and Express.js, is best for setting up your fintech backend technologies.

Table of Content

1. Django, Spring Boot and Express.js Frameworks: A Closer Look
2. Factors to Consider When Choosing a Backend Framework
3. Final Note

Django, Spring Boot and Express.js Frameworks: A Closer Look

Django

Django is a high-level Python web framework released in 2005. It is the most popular backend framework and an open-source framework that is scalable and customisable. It contains everything that a developer may require. The framework excels in rapid development and clean and pragmatic design. This makes it a popular choice for building scalable, secure web applications.

Features:

• Scalability: Django is designed to grow with your project. It allows you to scale up your app as required.
• Ease of Use: Dajngo is designed to make developers’ lives easier through several built-in tools for common tasks such as creating admin panels, managing website layouts, and handling databases.
• Performance: Django is quick to start with and can keep your app running fast, especially when it gets big.
• Compatibility: Django works closely with Python tools and cloud services. It prefers SQL databases like PostgreSQL. Django is not suitable for languages like Javascript.

Advantages

• Offers extensive ecosystem and community support
• Django features strong security that helps prevent web vulnerabilities and handle sensitive data.
• It offers a built-in, user-friendly admin interface for easy content management.
• It is versatile and can be used to build various types of applications.

Disadvantages

• The monolithic design structure makes it unsuitable for microservices-based projects.

Spring Boot

Spring Boot is an open-source and lightweight Java-based framework released in 2014. It contains a spring core container, which is a module providing containers., It is used for creating stand-alone applications.

Spring Boot offers extensions for creating web applications and renders configurable security methods. Its useful functionalities include transaction management, monitoring, caching and security.  Unlike Django, Spring Boot offers microservices.

Features:

• Scalability: Spring Boot is a great option for making apps that grow. It uses Java, which makes it easier to break apps into smaller parts that can be improved separately.
• Ease of Use: Spring Boot sets up a lot of things, making starting a project a lot easier. It offers a lot of guides and help that makes it easier to use.
• Performance: Spring Boot includes several features that make working with it better. With the right adjustment, it handles a lot of work efficiently.
• Compatibility: Spring Boot needs Java 8 or newer to work with main servers and databases like MySQL and MongoDB. It is great for building apps that run on cloud platforms like AWS and Azure.

Advantages

• Spring Boot allows developers to create applications quickly with fewer configurations.
• Offers support for microservices architecture
• It is ideal for enterprise-grade applications

Disadvantages

• It requires knowledge of Java and the Spring ecosystem
• It has a steeper learning curve
• As an enterprise-level framework, it may add some overhead in the interim of file size.

Express.js

Express.js is a minimalistic and flexible Node.js framework. Released in 2010, Express is written in JavaScript, which supports REST API applications.  It is known for its speed and simplicity and is used for building interactive mobile and web applications. Express.js allows for the creation of single-page, multi-page and hybrid pages. It integrates with NoSQL, MongoDB and Node.js.

Features:

• Scalability: js can handle growing pretty well because it’s built on Node.js. Adding Redis, for instance, can enhance Express by taking the pressure off your database.
• Ease of Use: Express is easy to use for developers familiar with Node.js. This makes setting up the basics, like routes and templates, really simple.
• Performance: js handles tasks efficiently due to Node.js and can be used to keep things speedy due to its simple design. Quick and efficient apps can be built right from the start.
• Compatibility: js works on Node.js, which makes it run on any database that Node.js works with, such as MongoDB and PostgreSQL. It works well with cloud platforms like AWS and Azure.

Advantages

• It is fast and lightweight, making it ideal for building high-performance applications.
• It offers an extensive ecosystem of middleware and Node.js packages for added functionality like handling HTTP requests and parsing data.

Disadvantages

• The asynchronous programming with callbacks can lead to complex code structures.
• Express is lightweight and requires additional packages for certain functionalities.

Factors to Consider When Choosing a Backend Framework

It is essential to know what tasks are attributed to backend technologies, the project requirements, the complexity of the application, the development expertise, programming language familiarity, and team skills. This understanding forms your decision-making processes.

The major areas of backend technologies in fintech include data management, security, API development, server-side logic, integration, deployment and CI/CO, monitoring and maintenance, error handling and logging, performance optimization,  and compliance and regulations.

Therefore, to achieve the above efficiently, you must assess:

• Project requirement and complexity: A robust and scalable backend framework is required for complex business logic, high traffic and intricate data manipulation. For small projects or minimum viable projects (MVPs), lightweight frameworks such as Express.js (Node.js) are ideal. At the same time, Django (Python) or Spring Boot (Java) are best for more extensive and large-scale applications.
• Performance, Speed and Scalability: Frameworks that can scale to accommodate many users and offer real-time features without bogging down include Django. A framework like Express.js is known for high performance, and it is ideal for heavy use without slowing down.
• Language Familiarity and Team Skills: Your team’s familiarity with a particular framework should be considered. If your team is familiar with Javascript, you should consider Express.js, which allows full-stack Javascript development. If Java is your team’s language, Spring Boot offers a robust framework. While Django is a go-to framework if your team prefers Python.
• Security Features: Security remains a key part of fintech and backend development. For instance, Django is known for its robust security features, making it a top choice for security-focused projects.
• Regulatory compliance: Choose a framework that is relevant to financial regulations.
• Compatibility: Any chosen framework must work well with other tools and technology you are already using. Node.js framework (Express.js) works well with Lambda.

Final note…

Choosing a backend technology for fintech is a crucial part and should be made through careful consideration. The project requirements should form the decision-making process, including other significant factors. Any chosen framework must align with the business objectives and needs for both the short and long term.

About Olufemi Titlayo Samuel

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