Trending Technology Stack for FinTech App Development
Technological advancement has greatly impacted several areas of banking and financial sector like non-banks loans, mutual crediting, deposits, accounting systems, personal finance, individual investments, crowdfunding, payments, and even the use of cryptocurrency.
FinTech companies cover unbanked and underbanked people, providing more accessible services. FinTech institutions double down on mobile hardware and software, online interaction without branches. FinTech companies totally rely on certain frameworks, databases, and programming languages in the development of their products or services.
Tech Stack Behind FinTech Startups
Always keep in mind that the tech stack you use will determine the possibilities and limitations of your product. That’s why I’ve collected the best FinTech tech stack practices that I would like to share. Let’s take a look at each startup one by one.
Chime is one of the best and fastest growing FinTech startups. It mostly focuses on user-friendly financial services and neo banking. Chime provides many leverages to their users by offering zero-fee services, including payments and deposits, early redeem options and automated savings.
Nowadays, Blockchain and cryptocurrency platforms are highly popular. Coinbase is one of the most successful because it provides digital asset trading and investment services, including fiat-to-crypto exchange.
Coinbase operates in several countries and acts as the primary entry point for various individual and business customers by using different languages and technologies.
Bugsnag, GeoEngineer, New Relic, CircleCI - these platforms are DevOps solutions used by Coinbase for developing FinTech apps with different programming languages like Ruby. Coinbase also uses AWS (Amazon Web Services) as a cloud service, with the best frameworks like Ruby on Rails and databases like IronMQ.
3. Credit Karma
In the market among FinTech startups, modern digital lending is highly popular. However, Credit Karma focuses on slightly different services which are not directly related to actual lending. Instead, the team offers quick and simple credit monitoring with personalized reports. Further, the company suggests the most suitable loans from partners.
Klarna is located in Sweden, and this company is a unique mix of startup culture and traditional banking services. It provides modern solutions for business-customer payments and also ensures the safety of both buyers and sellers by handling client payments and claims. Klarna has a valuation of over $5.5 billion.
Marqeta is a unique company that has launched over 140 million cards, including offers for Square, Uber, instacart, and BREX. It is one of a few FinTech startups that work for other startups. It’s a platform that issues cards and develops other payment solutions. In addition, Marqeta is known for its safety and guarantees.
Jenkins, Docker, GitHub, New Relic, Ansible - these platforms are DevOps solutions used by Marqeta for developing FinTech apps with several programming languages like Java, Python, Ruby, GraphQL. Marqeta also uses AWS (Amazon Web Services) as a cloud service, with the best frameworks like Node.js, Ruby on Rails, Foundation and databases and stores such as MongoDB, MySQL, Redis, InfluxDB, and Snowflake.
N26 is located in Berlin. This company provides modern financial services to many European customers. N26 has a simple and powerful mobile app with financial management features like bank cards, personal payments, mobile accounts, and low fees compared to traditional banks.
GitHub, Docker, Visual Studio, Selenium, Gradle - these platforms are DevOps solutions used by N26 for developing FinTech apps with several programming languages like Python, Java, Kotlin, TypeScript, Swift, Julia. N26 also uses AWS (Amazon Web Services) as a cloud service, with the best frameworks like Node.js and Vapor, and databases and stores such as Redis, PostgreSQL, Kafka, and Realm.
The technologies mentioned above and FinTech startups don’t show everything you want to find. But, these examples are the most popular in the financial industry. So, for your financial startup, remember these stacks and utilize the most useful technologies. If you plan to launch your own mobile FinTech app, and if you think you need support in validating your idea. In that case, you can approach a professional FinTech app development company and get your app development done from them.
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