In today’s fast-paced business world, FinTech has played a substantial role in financial regulations. And it has now become extremely crucial for any business owner to establish the correct application to optimize cost planning, enhance security, augment user engagement and ameliorate financial services in general.
If you decide to launch a fintech product that is going to conquer the market niche, there are lots of prerequisites that you should pay attention to.
Tips that will safeguard you from lost sales and left customers
First of all, you need to make your product stand out. Сonduct large-scale market analyses, determine what your competitors have and what they need. Therefore, think in what way your users might benefit from your product, and why people would want to tend to your product rather than using the ones your competitors provide. Remember that if you want to launch a successful FinTech app, users should always come first. In other words, you need to deliver a product that makes a difference for your target audience and that creates value for them.
Second, your product should offer advanced security. As a matter of fact, security is a point of emphasis for any modern application, especially the fintech one.
Third, as a fintech business owner, you need to pick up the proper languages and frameworks that stand behind your core product as they will have a solid effect on your product lifespan. But choosing the right stack for your fintech application is not as simple as ABC. Despite the fact that your application should come with a set of unique capabilities maintaining at the same time the top-notch security, it should offer a great user experience and interfaces that allow users to do everything you want them to do, easily and quickly. Plus, it’s paramount to take into account the current and future availability of all talents needed who will be in charge of working on the chosen technologies. Furthermore, you have to pick up the technology that can assure smooth solution growth in the long run. Paying attention to the tools that offer high-performance and intelligent automation is also highly desirable right from the start.
A thought on what technology stack to choose and why
The question is pretty rhetoric as there is no exact answer. In fact, everything depends on several facts, such as your product functionality, requirements, budget and the available pool of talents your company has. It’s predetermined already that you have to choose such a programming language that is rather easy to handle and, scale. Plus, the chosen technology should be already mature and packed with ready-made libraries. But today, there is a huge myriad of languages and frameworks that developers might want to use, right? And which one should you choose? Based on our expertise, Artelogic suggests that you regard .NET as the source for your FinTech product. Wondering why? Consider the following.
Key Reasons To Choose .NET
- It’s rather easy to create apps that run on multiple platforms because it reduces a lot of lines of code that needed to build a big and secure application.
- The .NET framework is multi-language compatible. In other words, it is not limited to scripting languages, but it creates a unified environment that lets developers build programs in C#, F#, C++ or Visual Basic.
- It has a massive development community and keeps all data in one place. That means that it offers a versatile and dynamic library, ensuring security and rapid development. You may count on direct support for security plus multiple support programs, compilers, code libraries, APIs. And thus, it is easier to create, develop, compile, and deploy apps or tailored products. It’s also important to mention that .NET will be surely supported in the future.
- It offers great code management.
- You can develop specific business functions, for instance, finance, CRM, and supply management.
- It guarantees enhanced security between remote services. Its code is processed on the windows server before it is displayed in the web browser, making the apps execute faster than interpreted scripts.
- A code execution environment which helps programmers minimize conflicts as they develop and deploy the app.
- It’s extremely scalable.
- It allows development of really complex applications and still have them easy to maintain.
- It offers a powerful caching system.
- It saves a lot of time and thus reduces the product development cost.
Needless to add, despite being a smart option for FinTech applications software development, .NET comes with some disadvantages, including the following ones.
To remain competitive in the FinTech market, you have to choose the proper stack of technologies for your product. While there are several completely different opinions regarding which tech stack to choose, Artelogic experts believe that the .NET Framework is a decent choice. So, you can use .NET Framework, which will deliver language interoperability, so that you can use the code written in another language for creating additional functionality. Plus, it offers patching and friendly ecosystem for apps and provides solid time and money savings in terms of application development. But don’t forget about the .NET’s famous cons - it does take solid system resources and requires a Windows-based framework.
By the way, if you are not still ready to make an informed decision regarding which tech stack to choose for your product, Artelogic can help you. We are a full cycle software application development company that knows how to deliver the top-notch services the FinTech niche requires. We can assist you in any step of your product application development, from idea to ready product, and beyond. In short, Artelogic is there to satisfy even the most sophisticated of your fintech-driven needs.
P.S. Have something to add about the pros and cons the .NET offers in terms of fintech app development? We value your opinion, please share it with us.