The fintech industry is becoming a growing space rapidly. The market worth, which was $11.8 billion in 2018, is about to touch the mark of $306 billion as 2023 ends. The projected growth of this industry is 22.17% CAGR.
So, we won’t be amazed if you say that you’re getting frequent Fintech projects as a software development company. The world is demanding advanced and innovative Fintech applications. As you get involved in one such project, we would recommend using Golang.
In fact, many Fintech developers are already using Golang for their projects for obvious reasons. In this post, we will explain why Golang Fintech is a match made in heaven.
Golang – An Ideal Match For Fintech
Developed by Google, Golang is an open-source programming language that the world got introduced to in 2009. It has simplified backend operations and the ability to scale faster. If recent trends are observed, Golang will likely surpass Java’s popularity soon.
For the Fintech industry, Golang is not becoming the first choice of many. Fintech industry players like American Express, Chime, Paypal, and Nubank are backed by powerful tools developed using Golang.
The obvious reason for using Golang extensity in the Fintech industry is that it’s capable of handling the high load that Fintech industry players experience with the help of microservices. Fintech industry players have to remain active around the clock. There is no scope for errors and delays as well. Services like online chats, live messages, and real-time financial reporting are key offerings of the Fintech industry. All these services require swift data processing with extensive data.
Golang is capable of taking care of these needs with ease and efficiency. It can handle multiple applications at a time. This way, Golang is perfect for the Fintech industry. However, this is not the only reason to use Golang for the Fintech industry. We have decades, many next.
Developers love Golang as it’s super simple. The learning curve is not steep, and beginners can easily grasp its principles and concepts. Even with a basic understanding of programming, developers can work like pros with Golang.
Golang won’t let us run multiple programs together. Developers can easily run various Golang-based platforms simultaneously. This way, you will have improved performance and better use of resources. This is possible because of the in-built goroutines that are not present in Java.
It was not easy to write concurrent programs earlier as it demanded great coordination between multiple resources. With Golang, obtaining concurrency in the projects.
Single responsibility for better functionality
While working with Golang, each of your microservices tasks will come with a single responsibility feature. Every function will have a unified responsibility that contributes heavily towards the efficacy of the multiple modules that an application uses.
Great memory management
As you plan to hire Golang developers, you need to understand that memory management won’t be a tough task to do as Golang can optimize memory according to the system-level requirements.
Easy failure detection
Fintech or any other industry demands error-free coding. However, this is not easy to achieve with a dynamic language. Golang Fintech mostly features flawless codes as it’s a statically typed language and spots the errors as codes are typed or written. Hence, code accuracy is great, rewriting is less, and development is fast.
Unmatched cross-platform compatibility
An ideal Fintech solution works on all platforms with the same ease and perfection. Golang developers will help you build cross-platform tools for the Fintech industry.
Golang can communicate with multiple platforms at a time. Hence, it can easily develop applications that can work on iOS, Android, Windows, and other leading platforms. This enables the Fintech industry to expand its customer reach and target more audiences with one tool.
Proceeding with GoLang for Your Fintech Project
Seeing the huge demand for Fintech solutions, we are certain that you, as a software development company, will have a Fintech project development going on. If you want to achieve perfection in development, hire Golang developers and start development seamlessly.
Golang has multiple features like a statically typed nature, great memory management, early failure detection, and many more that we discussed in the post, making it an ideal programming language for the Fintech industry.
It can handle high traffic and data with unmatched ease. So, what are you waiting for? Start with taking Golang For Fintech development services today. Make sure you’re outsourcing talent from a dependable service provider for better outcomes.