It’s hard to imagine modern society without digital services, and financial services occupy a special place among them. We are used to paying for goods and services with bank cards online or via devices that support NFC transactions.
Financial organizations are commonly referred to as fintech (short for “financial technology”). This category includes both traditional banks and other organizations that act as intermediaries between customers and the companies which goods or services they want to purchase.
Any fintech product has the following requirements:
- Security—payment data must be reliably protected from theft, and access to personal information must be strictly limited.
- Fault tolerance—fintech applications must ensure uninterrupted operation 24/7, regardless of circumstances or external conditions.
- Scalability—such applications must be easily adaptable to changing business requirements and increasing loads.
Developing fintech applications in Java benefits from many advantages of this programming language. Here are the main reasons why Java is suitable for creating reliable, scalable, and secure fintech solutions:
- Cross-platform compatibility—Java's motto is “Write Once, Run Everywhere”, which means that applications can be developed for multiple platforms at once.
- Scalability—application behavior will be predictable even under high loads.
- Security—the language's long history, active support, and development ensure quick responses to threats and the creation of hack-resistant systems.
- Rich ecosystem—numerous libraries, frameworks, and tools reduce development time and costs.
- Large community—you can always find answers to your questions on