The expanding digitization of financial services provides opportunities to offer more efficient and inclusive financial services and advance economic growth. The global fintech market amounts to $169 billion in 2022. And it doesn’t stop as forecasts say that its revenue would total $192 billion by 2024, growing at an average pace of roughly 12 percent.


The term fintech refers to cutting-edge technologies used in the financial sector with advanced digital solutions. They enable widespread online access to financial products at a lower price than traditional players. As of November 2021, the United States had 10,755 fintech startups making it the country — the largest number worldwide. However, the sad truth is that 75 percent of fintech start-ups fail.


Why the backlash? How can your fintech app survive and succeed in a highly competitive environment? Choosing one of the fintech programming languages is the key to making your fintech solution stand out with new features, robust user experience, and rigorous security. So, what programming language is best for finance? Unfortunately, there is no one magic bullet.


This article will describe some of the best programming languages for fintech web and mobile app development and teach you how to choose the right one for your project. We will share the expertise of Inoxoft, a company that has delivered over 80 custom solutions, including a trading automatization platform, integrating payment services, and integrating 1C with custom business software.


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Best Programming Languages for Fintech Web Development

Nowadays, the role of programming in finance is vital. We have selected five of the most common and popular programming languages in finance used for fintech web development. Unsurprisingly, they highly correlate with the top technologies most used by developers in 2022, according to a GitHub survey.

The top programming languages in 2022

  • Python/Django
  • JavaScript & ReactJS
  • C++
  • Java
  • C#


Python has many benefits for fintech server-side web development. Its code is straightforward, resulting in fewer errors and less need for debugging — a deal-breaker in a highly regulated sector like fintech. The more visible the programming language, the better for the company owner and the development team, as building a financial service is complex.

The quick time to market is intrinsically connected to the simplicity of Python. Writing the same code in most other languages takes less time than writing a few lines in Python. Additionally, choosing Python/Django allows you to tailor your fintech MVP to the needs of your users as well as swiftly implement secure ready-made components.

One well-known example of a Python/Django-based finance app is Robinhood, an app for commission-free stock trading, investing, exchanging funds, and cryptocurrency. Inoxoft has robust experience developing secure Python/Django web applications, such as a trading automatization platform for a British currency trading company.

JavaScript & ReactJS

JavaScript is used for front-end web development, making web pages dynamic and interactive. This programming language improves the user experience, making your fintech web app look more appealing. Security is another reason that makes JavaScript an excellent choice for financial apps. It detects fraud and makes code difficult to hack or alter.

JavaScript also provides excellent memory management, compatibility, portability, and scalability. It can process and analyze enormous amounts of data fast. A JavaScript library ReactJS allows the creation of large-scale fintech applications with intricate user interfaces, facilitating faster website loading speed.

Inoxoft provides ReactJS development services spanning six years in partnership with associates from Israel, the US, Norway, the Netherlands, the UK, Canada, and Sweden. We build ReactJS on-demand software solutions for fintech businesses with the most specific business requirements.


Because it is a compiled language, C++ is considered a fast language. The computer works more effectively, requiring less translation to understand the code. C++ has been used for many years by financial institutions to create software and operating systems. Most legacy bank systems use C++. Due to its duration, C++ has become ingrained in various sectors, including banking and fintech. It is frequently employed in quantitative finance as well.

C++ allows financial applications to execute, scale, and enhance reliability. It improves application memory management control, makes it simple to build effective code, and minimizes memory footprint. A little runtime overhead to provide faster response times and enhanced quotation accuracy. Additionally, it offers robust security features to assist in keeping financial applications secure and compliant with applicable laws.

Developers have also created many libraries and tools to support C++ use. In addition, because of its speed, C++ is still a preferred language for machine learning and AI. As a fast programming language, it is also perfect for High-Frequency Trading systems.


Java is a general-purpose language that may serve various goals, including the development of fintech web apps. Its adaptability has revolutionized the way we bank. One of the top finance programming languages available, it is lightweight and versatile. Java provides strict security measures and can manage large volumes of data. Thanks to these qualities, it has been widely used as the best programming language for finance and banking for over 25 years.

Java’s “write once, run anywhere” architecture is a factor in its long-term success. Programs created in Java can run on any system. Portability is crucial in the financial industry because developers, businesses, and clients may all use various hardware and operating systems. Java is well-organized and provides developers access to several tools and third-party connections.

To help stop fraud and cybercrime, it comes with security features out of the box, such as runtime restrictions and a comprehensive security manager. Java also has reliable and user-friendly security APIs that can identify and isolate suspicious code and virtual machines. Programmers use Java to create trading algorithms for quantitative finance and banking applications.


C# can be considered the more sophisticated version of C++, providing a more equipped object-oriented programming language. It is used for constructing highly dynamic finance apps using the Microsoft ecosystem of technologies. A vast developer community and a substantial tool library support the language developed primarily for Microsoft’s .NET framework, guaranteeing maximum security and ease of development.

Using C# for fintech web development enables programmers to save time and ensure greater security of the application’s financial data. The controlled memory system of C# enables dependable app scalability. It lowers latency and delivers quicker execution times by translating source codes into native instructions. Thank to working with.NET Core, C# is supported on all operating systems, including Windows, Linux, and Mac.

Most Inoxoft projects are .NET-based, and with 80 software solutions completed, we have significant knowledge in .NET web application development services. Our engineers share knowledge and continually advance their understanding of the relevant technologies. For those looking for the highest-quality product, consider custom .NET software development.

Best Programming Languages for Fintech Mobile Development

Some of the programming languages for finance described in the previous section are multipurpose and can be used both for web and mobile app development. Therefore, in this section, we will discuss them again but focus on why they are an excellent choice for fintech mobile apps. Plus, we will introduce two languages not mentioned earlier.

  • Python
  • Java
  • C++
  • Scala
  • Ruby & Ruby On Rails


Python is a scripting language that works with numerous platforms, from iOS and Android to server operating systems. Python-for-Android enables Python to function with Android, containing everything needed to start the mobile app. As of March 2023, it is the number one choice according to the TIOBE Index, which determines how many times each programming language is mentioned on websites and in search engine results.

Python libraries make it simple to create complex features. Without having to write the code from scratch. It is also possible to integrate libraries into various well-known financial APIs. The libraries enable Python to be an effective tool for creating sophisticated fintech apps that deal with big data, machine learning, and financial modeling.

Python is a key component of the technology stack used by many of the top finance apps. For instance, Python and Django are used by well-known trading software such as Robinhood and Venmo. However, Python is one of the slower languages than other languages, although its speed is acceptable for regular finance users.


Java is an established finance programming language widely used for fintech mobile development, along with Python and C++. Java allows programmers to write programs that can be implemented on any platform, eliminating the need to develop new programs for other operating systems. It has a wealth of libraries and tools available due to time, extensive acceptance, and a successful track record.

Java’s performance is another essential element. In the most recent release and improvements, Java has excellent memory management. Yet, security and dependability are perhaps the best arguments for choosing Java for fintech app development. Throughout the years, it has matured into a reliable and secure language.

Java offers several security libraries for authentication, access control, SSL/TLS/DTLS protocols, and cryptography. Java was chosen to create the Android apps and backend technologies by German neobank N26 because of its dependability and stability. Despite its widespread use, Java has shortcomings, such as low speed and slow, verbose code.


The processing performance of C++ is its most substantial strength. It is the closest to the machine of all programming languages. C++ code executes incredibly quickly since no middlemen or virtual machines are involved. Another advantage of C++’s longevity and age for finance apps. It turns out that many prominent financial institutions still utilize C++ in their legacy systems.

Moreover, C++ offers an incredible array of libraries and tools that can make the creation of fintech considerably simpler. For projects that demand quick calculations of complex processes, C++ is frequently the tool of choice. As a result, C++ is widely used in applications for big data and quantitative finance. Trading platforms are another common target for C++ development since they need nanosecond-level performance.

Yet, two significant limitations prevent C++ from being widely used in the development of finance apps. The language has a step learning path. It takes years to understand the many technical peculiarities and nuances of C++. Second, C++ has few built-in safety mechanisms, so writing secure code is more complicated.


Scala, a combination of the words “scalable” and “language,” was developed to address several of Java’s shortcomings. It operates on the Java Virtual Machine and is fully compatible with Java’s libraries and code. Scala is less well-known than some other languages on this list, although it is gradually increasing, according to the 2022 W3Tech report.

The way Scala improves Java is the key to understanding this language’s true potential. Firstly, Scala’s code is far less verbose and shorter than Java’s. As a result, development time is much quicker. Secondly, Scala excels in operations processing, making it ideal for creating sophisticated fintech apps. Finally, Scala includes a safety feature that helps programmers detect errors while writing the code, cutting down on debugging.

Last but not least, Scala provides a robust set of libraries suitable for distributed, concurrency, and data processing. Scala is the foundation of well-known big data frameworks, including Akka and Apache Kafka. So, the language will remain a significant fintech player in the future. For these reasons, Scala is a top choice for developing blockchain applications, as seen from many blockchain projects utilizing Scala on GitHub.

Ruby & Ruby on Rails

Digital finance companies employ Ruby in conjunction with its Ruby on Rails framework because of its simplicity and efficiency. Developers prefer Ruby over other programming languages because of its simplicity, which saves time and money, and the built-in security features.

Several programming characteristics relevant to fintech are shared by Ruby, most notably speed, security, and flexibility. Ruby is a programming language used to create various financial solutions, such as dashboards and payment systems. The Rails framework accelerates the construction of products and makes it easier to write code. Ruby is a solid language option for entrepreneurs wanting to develop their initial MVP.

The stock trading businesses can benefit significantly from Ruby, which speeds up and automates processes. For instance, traders can use Ruby to develop unique algorithms that evaluate data and suggest when to join and exit the market. It can also be used for quantitative analysis. With Ruby, developers can create effective backtesting platforms that let analysts simulate several tactics to identify the most lucrative ones.

How to Choose Programming Language for Fintech Project

When looking for the appropriate programming language, consider the study’s and analysis’s value. Selecting the correct tech stack will save your project money, time, and resources. And when you are choosing a programming language, consider the following factors.

Project Scope

Defining the project’s scope is the first stage in developing a fintech application. The features, objectives, functionalities, development expenses, deliverables, and project deadlines are all included in the scope. You need to reflect on what you hope to achieve from the endeavor, who are your future clients, and what platform they will use. After that, make an MVP, address user feedback, and consider adding more functionality to your app.

App Architecture

The App architecture determines how each component is organized and communicates with one another. There are two types of app architecture: serverless and microservice. The app can be created in a microservice architecture using a particular tech platform as a collection of small services. In contrast, serverless architecture lacks any sort of technical framework.

Development Speed

While creating an app, development speed becomes crucial. Your costs will increase if your development pace is slow. To succeed in business, you should pick a programming language that provides pre-made solutions. It will save you time and money. Using cross-platform technologies like Flutter can help you reduce the time it takes to design your app. Inoxoft provides Flutter app development services that offer fast development and testing.

Development Budget

Determine a budget for your fintech app. Many open-source and free frameworks can provide the same outcomes as paid frameworks. Also, choosing a programming language that offers rapid development can significantly cut costs and shorten the time it takes to construct an app. Thus, you can produce a high-quality product by properly arranging your development budget. Read more about fintech app development estimate in our blog.

If selecting a programming language for your fintech project still sounds daunting, consider hiring a fintech development company that will choose the best tech stack for your app. You can also read more about the best programming languages for fintech industry in our blog.

Consider Inoxoft Your Trusted Partner

Inoxoft offers fintech development services to help organizations overcome automation issues, succeed with leveraged trading, and digitize banking services. We assist individuals and businesses in making wise investments in creating fintech software solutions. Our team has robust expertise in banking software development services and custom trading platform development.

As a provider of fintech development services, we offer digital innovations that will help you stand out in the fintech sector. We create tools for Cash Flow Management, automated trading and online banking platforms, accounting software, loans and borrow debt management software, and other on-demand trading and banking software.

Let’s look at some fintech case studies delivered by the Inoxoft team.

Trading Automatization Platform

Our client, a British group of stock traders, aimed to develop an app that would automatically optimize numerical data using algorithms to replace manual labor. Inoxoft provides a web application that eliminates manual labor, automatically generates sheets with information on optimized exchange rates and compiles all created orders for lucrative purchases following a predetermined financial strategy.

Integrating Online Payment Services with CBS

Inoxoft is a leader in integrating online payment services with enterprise software for companies of all sizes. We adopt ‘PayPal-like’ online payment services to your business’s needs to streamline the processes involved in financial transactions. We provide value to your company by making it more user-friendly and modern.

1C + Custom Business Software: Aggregated Reports

Inoxoft integrated the custom business software with 1C, one of the most well-liked accounting programs, to extract aggregated reports. We linked 1C to the Warehouse Management Solution (WMS), a program that keeps track of warehouse stock levels. As a result, the accountants and staff from other departments could gather relevant data through aggregated reports.

Leverage Your FinTech App with Inoxoft

The programming language you select can define the success of your fintech app. When you choose fintech coding language, you need to consider your project’s scope, app architecture, development time, and budget. The fintech coding languages described in the article will help you to navigate your choice. However, we highly recommend consulting with an experienced fintech web app development provider to make an informed decision.

Inoxoft has six years of experience providing fintech web and mobile development services, assisting businesses in overcoming automation challenges, achieving leveraged trading success, and digitizing banking services. We create innovative, cutting-edge digital fintech solutions that let you thrive in the fintech industry.

Leverage the greatest fintech experience for your clients with Inoxoft!

Frequently Asked Questions

What are the top 5 best programming languages for fintech mobile apps?

There are many popular programming languages in finance. As described in the article, Python, Java, C++, Scala, and Ruby, with its Ruby on Rails framework, are some of the most well-liked programming languages for fintech mobile app development.

What are the 5 top programming languages for web development in fintech?

There are dozens of programming languages used in fintech. However, we consider Python, JavaScript, C++, C#, and Java the five top programming languages for fintech web development.

How to choose the best coding language for my fintech project?

Selecting the best coding language for finance may be daunting. You should consider your project's scale, app architecture, development time, and budget when choosing a tech stack for your fintech web development.