Starting a financial company? If you are looking to create a great app for your mobile presence, you need to be concerned about the cost and other factors. Financial companies face specific challenges because they cannot compromise on security, application performance, and user experience. Because of this, it is so important to choose the right technologies and developer resources for fintech applications.
With the rise of technologies and the evolution of the internet, many programming frameworks have made online existence possible – such as .Net, RoR, MEAN, and MERN. It’s time to talk about MERN, which is one of the most amazing tech stacks of FinTech.
MERN has an excellent reputation for bug-free performance, a solid backend, and excellent data security. This explains why the MERN stack is widely used in fintech projects around the world and it is one of the best tech stacks of FinTech.
The MERN technology stack combines multiple technologies necessary for building a web application from start to finish. Four technologies make up MERN: MongoDB for the database, ExpressJS for middleware, ReactJS for the frontend, and NodeJS for the backend.
We’ll take a quick look at these four technologies to see how well they fit into fintech app development.
M for MongoDB: It is an open-source database technology that supports faster scalability and saves files in a document-oriented database structure in JSON format. It is ideal and one of the best tech stacks of FinTech.
E for ExpressJS: It is part of the MERN stack and is a reliable, low-footprint, highly modular middleware framework that helps build fast-paced websites.
R for ReactJS: The frontend development technology is considered to be component-based and modular in order to create high-quality user interfaces for websites. ReactJS frontend technology is indeed used in Fintech app interfaces.
N for NodeJS: It is responsible for running javascript files on web servers, as the backend technology language, it is secure, result-oriented, and promotes a robust runtime environment.
As we all know now, the best fintech development tech stack (talking about MERN) has taken the internet by storm, but why?
We’ve gathered some interesting reasons why MERN has become one of the most popular tech stacks of FinTech that caters to frontend, backend, and design problems.
17 Reasons Why MERN Is The Best Fintech Development Technology Stack
1- Free Open-Source Framework
For all new startups, this is an amazing thing to consider, since we all know how the price impacts the dream project flow. MERN has a low development cost and a reduced license fee, which is a big plus.
In addition, being an open-source programming framework, the involved languages are widely used in many web applications. Not to mention, the framework’s components reduce outside costs.
2- Javascript Technology Is Ruling
As one of the most practical tech stacks of Fintech, MERN combines 4 powerful languages, out of which three are JS-based. This means that all your coding tasks are carried out using only one language i.e. Javascript.
Identifying bugs and solutions becomes easier when developers work on a single coding module. Overall, the JS framework offers flexibility in maintaining and upgrading apps and software.
3- MVC Architecture Incorporated
In the MERN stack, the presentation layer and business logic remain separate due to MVC (Model-View-Controller) technical architecture.
It assures the optimum performance of the front-end and back-end of the apps. Therefore, MERN falls under the best tech stacks of FinTech, since their apps need more performance and speed, which MERN aims to provide.
4- High-Quality Performance
Because the MERN technology stack is based on almost a single language it promotes performance and glitch-free execution.
In addition, a large pool of talent is familiar with the technology, which further enhances the results. Hence, MERN is considered one of the best tech stacks of FinTech that has actually improved the performance of its apps effortlessly.
5- Robust Date Security
Do you know what MERN stack is best used for? It is used for keeping users’ information secure and safe from malicious activities. Apps built with MERN stack technology offer enhanced security from every angle.
6- Firm Developer Support
Due to its open-source and free nature, MERN enjoys the support of a global community of developers. MERN-based apps/websites can be developed using React or NodeJS. The availability of talent encourages the owners to completely rely on MERN for their online appearance and landmarks.
7- Increased Scalability
The MERN is a promising and continuously evolving framework. We all know that scalability is an aspect that is imperative when developing a product or website. Besides this, ReactJS’s component-based architecture is also crucial.
MERN, therefore, holds a top place when Fintech tech stacks are discussed for all of these reasons, making it a performance-rich development stack for various apps.
FYI: MongoDB stores a lot of data, making it highly scalable.
8- Suite Of Testing Tools
Now that the app has been built, how can the whole programming process be tested? You can trust MERN’s extensive suite of pre-built testing tools for simplicity and ease of use.
Developers use tools that are updated with the latest versions, so they are efficient. As a result, the MERN stack is one of the best Fintech development tech stacks.
9- Short Launch Time
As part of the Fintech startup tech stack, MERN technologies accelerate app development and testing, reducing launch time. That’s right!
Using Nextbridge developers’ expertise, knowledge, and strength, an entrepreneur like you can now get his/her online platform developed as quickly as possible.
10- A Full Stack Development Technology
Is the MERN stack sufficient for web development? Our answer would be yes. This is because it meets all needs from front-end to back-end.
Javascript languages used in the MERN tech stacks of Fintech show amazing results, allowing you to focus on other crucial tools and technologies as MERN comes in a package.
Moreover, it reduces the expenses associated with “outside help”, which is why it is known among entrepreneurs.
11- Promotes Agile Methodology
The MERN stack works like this: it adopts the agile development methodology as it comes with all the tools to make the process easier.
The Agile Methodology breaks down development tasks into chunks and keeps all stakeholders, owners, and developers in close communication.
The financial technology industry finds the agile development framework the most reliable. This is why MERN is regarded as the best Fintech development tech stack.
12- Easy-to-Understand Programming Framework
As you know, javascript is the language that offers even beginners a sense of understanding as the technologies incorporated compile easy-to-comprehend and flexibly programmable codes.
Additionally, it reduces learning time and increases user experience (which is a bonus). Are there other Fintech tech stacks with such wonderful plus points? Certainly not.
13- Availability Of Free Templates
It is possible for everyone, from novice developers to owners, to choose feasible design templates for their apps or websites. The fintech industry finds this appealing.
With their outclass, user-friendly, and happening yet free designs, MERN offers the best Fintech development tech stack on the market.
14- Cloud Integration and Compatibility
These technologies are highly compatible with cloud technology and, therefore, facilitate seamless integration between the MERN frame and cloud platforms.
15- Fast-Paced Development
Having the support of developers around the world and resources readily available to offer their skills, it is considered one of the result-oriented Fintech stacks.
With MERN technology, you can expect quick and powerful results in terms of online appearance.
16- Client-Server Interaction
The fact that MERN can be switched from client to server mode making it the best Fintech development tech stack.
In simple words, client-server interaction becomes strong when the M.E.R.N stack is used because of the presence of MongoDB (database) which transfers data between client and server as quickly as perceived.
17- Code Reusability
Would you still like to know why the MERN stack is good? Last but not least, let us give you one more reason to trust MERN technology, namely its ability to re-use codes.
Once the codes have been written down, they can be reused as well as modified. MERN technology is one of the most reliable tech stacks for Fintech and even for companies such as UberEat and Instagram.
Bottom Line:
Fintech is an industry that uses the latest technology trends to provide high-quality financial services.
To improve their facilities and activities, they develop their apps using the latest programming architectures like MERN (a top-notch Fintech stack).
Now you understand why Fintech is so keen on the MERN stack.
