How to Launch Your FinTech App for Maximum User Engagement
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Java is the classic of the development world, and will likely remain one of the most demanded programming languages for decades to come.
Let’s take a peek into how it wins the preferences of Fintech leaders globally. Also, I’ll explain how to use Java expertise in Fintech best.
The history of programming languages teaches us that every year, a new language or even several of them emerge and make hype. Everyone wants to use them. But in a few years, no one remembers its name.
If a company or startup chooses Java, it's 100% guaranteed that they choose popular and up-to-date technology that will retain this reputation in the future. Java was, is, and will be.
Java is a general-purpose, object-oriented programing language. You can use it for any application, but it is often used for Fintech apps. As for its popularity, there are several reasons for that.
5. Scalability features are there, too. If you’re cloud-based, Java will allow you to run multiple server instances automatically without any actions on your side. An important note regarding security and scalability is that, in most cases, companies do not use standalone features and choose specific implementation frameworks. For example, the Spring framework has a security model that allows to organize permissions and access based on tokens, roles, and so on.
6. Java is salvation for startups. The language's affordability and efficiency let emerging companies cut their technology spending without sacrificing quality. You pay for cloud services and/or your own hardware, and your tech team's work, and that's it. This makes Java one of the best options when developing a new offering to impress the market.
7. Java can underpin your data processing. The variety of Java libraries and frameworks can support different data sources. Your company may store data in a relational database like MySQL or PostgreSQL or use NoSQL databases like MongoDB. If that data storage is not custom-made, you can find some Java library that will help connect your Java app to that data source and handle the data according to your business logic.I’ll use mail merging as an example. It's a common feature in many applications when you have a document template with some variables, which should be replaced with real data, and you need to generate a Word document, a PDF, etc.
To handle this, we can use various text processors like Microsoft Office, LibreOffice, and Open Office. Each of them provides an API, including Java API, or there are some third-party solutions by using which you can connect or interact with these text processors so we can do a mail merge.
Here’s how it works. We take, say, a Microsoft Word template, tell the text processor to replace those variables with data, and then generate a PDF, Microsoft Excel, or CSV file. So, we use production robust external applications with minimal effort and considerable value for the users. Now, they’ll be able to quickly generate reports or letters, customize them, and send them via email, which Java can enable.
Java is perfect.
Just kidding.
It certainly has some room for improvement but nothing drastic. Since Java is an established language with decades of history, some decisions taken long ago may slow down development. Indeed, some languages, object-oriented or not, allow building some proofs of concept (POCs) from scratch more quickly.
From my experience, however, when a startup grows, it tends to rewrite that POC using more strong, enterprise solutions—like Java and Java-related technologies. So, if you may end up with Java anyway, it certainly makes sense to consider this language initially.
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Let’s assume you have a project that’s already running, and you add the team to this project. A lot can depend on the situation and the product, but mostly, the results will look like this:
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I guess it’s safe to say that even if we talk about personalized solutions, Fintech business logic generally requires the same standard steps and solutions. So, common patterns can be applied in how we interact with an external server, log application, store data, etc., and Java offers us a great variety of such patterns.
Java’s security, scalability, and affordability position it as a reliable and advanced classic in the tech world.
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