Find out why so many developers are interested in working in Fintech. Learn which programming languages are in high demand and the reasons they chose to do it.
Developers may consider enhancing their finance and tech skills if they are looking to work in a rapidly growing and changing industry.
Fintech Developers: The Opportunities
Fintech is the union of finance and technology. While this industry is not new in any way, it has been growing in popularity because of the innovative work being performed in the finance segment. There are many reasons someone might want a career in fintech. But here are the top reasons:
- Above-average salaries
- Technology is always changing
- Digital/Financial Inclusion: The Chance to Increase It
These higher salaries can be attributed to the increasing demand for developers in finance. Older financial companies want to modernize. Fintech software developers often work at the forefront of technology. They are expected to use new AI and machine-learning systems, as well cloud deployments, and even blockchain technology. Fintech developers never stop learning.
Fintech Developer: Languages
Fintech companies will need developers with different skills for back-end and front-end development. This means that people from other industries can find a job in fintech. The following skills are useful:
Python: Data analytics and machine learning heavily rely on Python. Python is also very easy to learn.
Scala: This language has been growing in popularity rapidly in recent years. It supports Java compatibility and offers high-level functional programming languages. Scala is a great choice if your goal is to transition into fintech.
Java: Java’s portability and well-established Java ecosystem are reasons Java is still popular. Scala runs under the JVM, so Java expertise is still useful. Java is often used for embedded systems as well as IoT devices.
SQL: Database skills are important for data analysis, as well as for application development. MongoDB and NoSQL solutions have seen a brief uptake in popularity over the past few years. However, fintech is a sector where relational databases are most useful.
Rust: Rust is preferred by many new fintech startups over C++, due to its memory safety properties. Rust is very popular for blockchain-related projects.
What Skills Must Have?
There are plenty of opportunities in fintech, whether your interest is in front-end, security, data, and statistics. For potential fintech experts, here are some areas to consider:
Blockchain
Blockchain is more than speculation. Some fintech providers use cryptocurrency to make cross-border transactions that are cheaper and quicker than using traditional financial services. Oracle Systems such as Chain-link (and Band Protocol) are drawing attention in the non-crypto space. It could prove useful to those who are interested in new opportunities within fintech by learning how to deal with these decentralized provider oracles.
Public Cloud
The cloud provides developers with flexibility and scalability. Many financial institutions still use on-the-prem systems. But, knowing how to manage cloud resources is extremely valuable. AWS, Google Cloud, and similar offerings give developers a competitive edge when it comes to finding work in the fintech sector.
Safety
Hacking attacks will be more common in financial companies than ever before. The demand for security professionals, such as code auditors and network security experts, will never be low. Traditional finance firms need people to test, secure, and protect web and mobile applications. The expertise required to evaluate smart contracts is a requirement for both De-Fi and Blockchain companies.
