Ten Reasons To Choose Java For Your Fintech Project

By Maryna Cherednychenko

Java is an experienced player in the IT arena. Appeared back in 1995, it remains one of the most popular programming languages until now. Java is actively used in many spheres of app development. The financial sector is one of the leading areas of its appliance. Why do fintech devs prefer Java, and why might it be the top choice for your finance project? Let’s find out.

Why Is Java Popular?

Java is reliable, secure, and versatile. Due to its object-oriented nature, it easily solves complex problems through modularity and code reuse. Java offers multiple features to make code writing simple and straightforward. For example,

  • abstraction hides implementation details and lets user deal with essential things only
  • encapsulation packs code and data into one unit, keeping given class variables hidden from another class
  • polymorphism makes the same things and achieves the same goals in different ways
  • inheritance gives child objects all the properties of the parent object, speeding up the coding process in general

Except for the above, Java code wins over with its reliability and safety. It is explained by the fact that Java objects are self-contained units that do not need external references.

Why Choose Java For Fintech?

At Softensy, we consider Java the top language for the backend. We use it to create a robust app mechanism that seamlessly integrates with web and mobile clients, whether they run on native or cross-platform tools. Here is what makes us choose Java among other languages:

1. Versatility

2.Multitasking

3.Reliability

4.High Performance

5.Rich Standard API

6.Large And Trusted Community

7.Robust Security

8.Big Pool Of Developers

9.Regular Updates

10.Well-Structured Documentation

Why choose Java for fintech

Java Alternatives

Java vs. Kotlin

There has been a lot of debate lately about whether Kotlin can replace Java. In our opinion, such global changes are still a long way off. Even though Kotlin code is shorter and easier to understand, it is inferior to Java in versatility and available tools.

On Java, you can create free services, write your own API methods, make sites, servers, mobile apps, and do many other things. In turn, Kotlin is a new word in Android development. Its main pro is in a fresh look at things and the desire to provide developers with simple and handy tools that do not require a lot of code.

Our verdict is Kotlin for Android, Java for the backend. This is the exact way we combine these langs in our fintech projects most often.

Java vs. Python

Python is simpler, shorter, and easier to learn compared to Java. With all this, Java remains the number one choice for enterprise apps. There are a few reasons for this:

Lots of specific libraries. Although Python also has an extensive library base, Java libraries are more tailored for large projects.

Early errors detection. As a statically typed language, Java provides type safety that catches all potential errors at compile-time, not runtime like Python.

Code readability. Java code is easier to read and edit for other programmers because Java devs manually declare variable types. It means a lot for fintech projects because large teams of different specialists work on them.

Java vs. С#

C # and Java have been direct competitors for many years. Both languages ​​are great for large projects; they can cope with high loads well and have robust security. These languages ​​are hard to compare. Often, teams give preference to the technology with available specialists at a place. Also, the choice of language, to some extent, depends on the project specifics. C# is often the first choice for gameDev, while Java works better for backend and QA automation.

Java’s clear advantage over C# is its cross-platform nature. The .NET platform is more sharpened for Windows. And although .NET can be installed on Ubuntu, it is quite tricky to do this because there are no ready-made assemblies for each and every processor architecture.

Java Fintech Development With Softensy

If you are looking for the right technology for your fintech project, Java is a safe bet. However, the entire tech stack may be advised after thorough business analysis. If you need expert help, consult our managers. They will suggest the perfect solution after studying project details.

This article was originally published at Softensy.

Softensy specializes in fintech development and enterprise-level apps. Our team helps companies automate business processes by developing software solutions.