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Skills of the Fintech Developer

about 3 years ago by Luigi Muscat Filletti
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Fintech development has grown significantly over the last few years and has provided additional value to businesses through various online banking and payment solutions to help individuals manage their finances; from investments, financial advice, mobile payments internet banking and crowdfunding, and of recent, the latest  cryptocurrency concept of ICO in Fintech.

Moreover, all the above services must be presented through a user-friendly and professional digital experience, so it therefore makes sense that Fintech companies are investing to recruit talented individuals in their company to develop and design the most efficient and secure online services for their customers.

Both Front-End and Back-End Software Developers possess the skills which are needed to shape such services and therefore individuals in this field are being presented more software developer job opportunities within Fintech. In addition, experts in the relatively new tech-based areas of AI and Blockchain technology also offer a great deal of skill which can be applied to various areas of a Fintech companies’ operations, such as fraud detection, user identification validation, cybersecurity, automation of data, cloud-based services and technical support.

As one can see, the possibilities are significant and the opportunities even more so, making software development within the sphere of Fintech a very attractive and rewarding career of choice. Below, we take a look at the typical skills required by the Fintech developer.

Python Power

Python is the ideal programming language for creating analytic tools, quant models,  pricing tools and risk and trade management platforms, which are all utilised in the development of trading strategies within hedge funds and investment banks. Moreover, Python has gained in popularity within the business side of banking through its easier and faster method of programming when compared to traditional languages, as programmers are now allowed to collaborate in a more productive way with quants, researchers and analysts within the organisation. Fintech companies are showing greater interest in recruiting software developers who have a good working knowledge of Python programming skills, as such software is becoming heavily used in Fintech operations to set more effective strategies.

Java Expertise

Java programming software has always been used widely by financial institutions, and has been the main programming language within banks ever since its implementation. Now, Fintech companies are making use of Java software for a multitude of projects, ranging from order management systems and low latency execution to in-house risk and valuation platforms, as well as the simulation and modelling of data. Java is also used to create seamless, secure and fast-loading website pages - the use of Java in Front-End Development through web development and design is also of importance for Fintech companies looking to optimise their online banking platforms on web and mobile.

In addition, Java software provides a secure platform for storing financial dataThe demand for software developers to possess skills in Java is high, as employers in Fintech companies seek talented individuals who specialise in this programming language to assist the company in generating competitive, functional software for their projects.

C ++ & C# Techies

The programming languages of C++ and C# are both highly sought after skills - the C++ language is required in investment banking and is ideal for software infrastructure and resource constrained apps - this language is said to be the most efficient tool to process large amounts of data, and is also renowned for its speed, and is therefore used for building applications for technical banking systems within a fast-paced data environment. The C# programming language is a skillset more rare to find, and mainly used in data simulating and modelling, particularly used in developing a platform which is Windows based. This object-oriented coding language makes use of a combination of C and C++ languages, and experts in this area of software development are rewarded significantly for the positive difference they can instil in a Fintech company, partially due to the lack of individuals who practice it professionally which generates a high demand of a low supply.

Matlab Gurus

Being a quantitative finance programming language, Matlab is used in Fintech companies by developers to form matrix manipulations, generate and implement algorithms, plot data functions, create user interfaces. Matlab can also be interfaced with programmes developed in other languages such as Python, Java, C, C++ and C#, therefore making it a language which can be used for a variety of technical projects in Fintech.

R Skills

Although not used by all software developers in Fintech, the R programming language is popular mainly amongst statisticians and data miners, used to develop different types of statistical and data analysis software, as well as software related to Big Data analytics. With the growth of Big Data in Banking and Finance, Fintech companies continue to focus their efforts in the development of cloud computing and Big Data processing, and experts in the R programming language can effectively apply their knowledge in this regard.

HTML, Javascript & CSS

The fundamental skills needed by all software developers are those of HTML, Javascript and CSS - the need to create smooth and fast user interfaces is of outmost importance for a Fintech company in order for its customers to engage well with their online services. These basic Front-End Development skills are never taken for granted and provide further knowledge to more complex computing problems.

ETL Knowledge

In addition, other useful hard skills in programming for Fintech are those of SQL, which is used to retrieve and update financial data, PHP, which is used as a server-side tool in web development used to create dynamic and interactive content for webpages, and ETL, which is used for reading data off a database, extracting it and transferring it to another database.

ETL is perhaps a programming tool which is showing significant potential within the Fintech development sphere, as ETL technologies grow in importance for successful data warehousing and the organisation of large data quantities. Big Data technologies such as Cassandra, Hadoop and Scala steadily gain significance as their usefulness becomes more relevant in the face of Big Data and cloud computing technology.

To Conclude

As Fintech companies continue to deal with large volumes of financial data on a daily basis, they require highly skilled and talented professionals in technology with expertise in these core programming languages to give them that cutting edge in their technical operations. Furthermore, developers who also specialise in AI or Blockchain technology are also labelled of high value, as Fintech companies are looking towards these innovative streams of technology to provide further value and security to their clients and customers.

As one can see, the programming languages used throughout Fintech are various and those mentioned above are only the more preferred and mainly used in Fintech today, meaning that as this sector grows more software development career opportunities in Fintech may be formed through the inclusion of new programming languages in the development of platforms and apps needed in the Fintech sector.