Tech

Why Should You Use MERN Stack for Fintech App Development?

As you know the outbreak of COVID-19 has forced the bank branches to shut down along with other industries. So, it is obvious that the financial sector also needed a digital financial system to continue. Their services to the customers. Though COVID-19 regulations are now easing and banks are reopening, customers are now becoming comfortable with the new-normal situation. It forces the banking industry to offer both traditional and non-traditional financial services to its customers. So, if you are planning to start a financial business. You need to launch a brilliant app to satisfy the needs of your customers. Thus the concept of Fintech application has arrived. If you Hire MERN Stack Developers, you can get a brilliant fintech app at a cost-effective price without compromising the quality. 

A Brief Overview of MERN Technology Stack:

MERN is the latest technology stack that combines multiple technologies that are building a web app including a Fintech app. The term MERN consists of four technology stacks for various purposes including MongoDB, Express.js, React.js, and Node.js. Let’s dive deep at these four technologies that properly fit into Fintech app development requirements:

1. MongoDB:

  • MongoDB is an open-source database technology paired with cross-platform capabilities.
  • It is also featured with a document-oriented nature.
  • MongoDB is highly scalable and fast.
  • It can save data in a web-friendly format such as JSON.
  • It offers ease of data transmission.
  • These make MongoDB ideal for developing Fintech apps.

2. Express.js:

  • It is a middleware framework of the MERN stack.
  • It is a highly modular framework.
  • That is efficient enough to build a highly scalable and secure web app.
  • So, it is the security factor that makes Express.js a preferred framework for the Fintech app.

3. React.js:

  • It is the frontend development technology of the MERN stack.
  • That is featured with a robust JavaScript library paired with modular and component-based architecture.
  • It allows the developers to reuse the code.
  • That is a highly scalable framework that offers faster performance while developing a Fintech app.

4. Node.js:

  • It covers the backend technology of the MERN stack.
  • That is used to run JavaScript code on web servers.
  • It delivers security and scalability to an app.
  • It offers a fast-paced runtime environment.
  • Thus it offers everything that a Fintech app needs for its backend development.

What Are The Advantages Offered by MERN Stack for Fintech App Development?

MERN stack offers a wide range of advantages for building a robust Fintech app. Moreover, it reduces the development cost of a Fintech app without compromising the quality of the app. So, as a financial startup, you must Hire Dedicated Developers who can provide the best MERN stack services for your project. Now look at the details of why the MERN stack is preferred for Fintech app development:

  • Open Source & Free: All the technologies use in the MERN stack are open-source and free. It makes MERN stack popular among startup projects that have the budget. It is because this technology stack can save your budget in different ways. Firstly, Ii saves a considerable amount in license fees. Secondly, it offers multiple ready-to-use components that save a good amount of money. Thirdly, you can use all these technologies for other web projects.
  • JavaScript Framework: Apart from the MongoDB database, the other three technologies such as Express.js, React.js, and Node.js are JavaScript-based. It offers several advantages while building an app such as JavaScript allows the developers to deal with a single language for all coding tasks for both initial and subsequent development. It also offers easy maintenance and up-gradation of an app. The most important factor that makes JavaScript popular among developers is its reliability and multi-functionality.
  • Efficient Developer Community: Being a free and open-source technology, it is popular among the developer community all across the world. The technologies use in MERN especially Express.js, React.js, and Node.js have a large community. You can find a large number of popular web forums organized by the React.js and Node.js developers that offer 24/7 support for the MERN projects. So, if you Hire MERN Stack Developers, you don’t have to worry about their efficiency.
  • App Development: Handling a Fintech project is not a cakewalk, rather it requires scalability. This is the area where the MERN stack proves to be the best. MERN stack is the perfect fit for building highly scalable and feature-rich apps. Now you can understand why it is necessary for developing a Fintech app. There is no denying the fact that a Fintech app must have complex functionalities and robust security that can be ensured by MERN stack technology.
  • MVC Architecture Support: One of the most important features of the MERN stack is its MVC architecture support. It allows an app to separate the presentation layer and business logic through the programming process. It increases the performance of an app. So, if you are planning to develop a Fintech app, make sure you opt for a technology stack that offers scalability and functionality. MERN stack can help you to reach your Fintech business at the highest position.

Why Should a Fintech Startup Hire MERN Stack Developers?

In the present time, there are mainly two popular technology trends that have emerged as the best among both the developer’s community and the businesses. Apart from MERN developers, you can also Hire Mean Stack Developers for your startup project. But most of the top brands especially Fintech industries all across the world prefer MERN Stack developers to handle their project for various reasons including:

  • Offers Incredible User Experience: If you want to satisfy your customers through an app, make sure the app offers an incredible user experience. It is a vital factor for any digital product. The React.js framework of the MERN stack is efficient enough to develop a fully responsive app paired with a great feel and look. 
  • Offers Stability:  React.js is a promising framework that is continuously evolving. It is also backign up by large community support.
  • Availability of Dedicated Developers: You can find a robust developer’s marketplace for React.js that Node.js used in the MEAN stack. In addition, you can also hire talented freelancers available all across the world.
  • Less App Launch Time: MERN stack development boosts up the app development industry more efficiently. It allows businesses including your Fintech business to launch in the market in less time. 
  • CostEfficient: MARK stack is a cost-effective solution while developing an app. It is because; with the MERN stack you don’t have to create two separate applications for iOS and Android. So, it is a wise decision to build a single cross-platform that can help you to save a great amount of budget. So, when your budget is tight, it’s a great idea to opt for the MERN stack.
  • Time-Saving: With the MERN stack, you don’t need separate applications for two separation platforms. It simply means that you will save a lot of time. So, when you have a hard deadline, you must opt for the MERN stack technology. Moreover, when you are in the Fintech industry, you must opt for a technology that is efficient enough to make regular updates with limited cost and time. Thus MERN stack leads the race for faster development.
  • Testing Tools: MERN is featured with its own set of testing tools. So, no matter whether you hire new developers, you will get the best testing services.

Why Are the Advantages of Hiring MERN Stack Developers for Fintech Project?

  • MERN stack developers can efficiently build Fintech apps using standard processes and abilities.
  • MERN stack developers are capable enough to implement design thinking.
  • They take care of the full-fledged Fintech app development.
  • They focus on improvising a custom solution for your Fintech app.
  • It is efficient enough to deliver highly scalable and secure Fintech applications.

The Bottom Line:

There is no denying the fact that the MERN stack has proved to be a reputed and trusted technology stack for different types of projects including the Fintech app. The main factors that make MERN preferable among the developers and the users are its scalability, robust security, and affordability. It results in increasing numbers of Fintech app projects in recent times. So, if you are planning to set foot in the financial industry, you must Hire Dedicated Developers who can easily handle them. The Fintech project by implementing MERN stack technology.

Mia_Jacobs

Mia Jacobs is a Digital Marketer at CMARIX TechnoLabs Pvt.Ltd., a leading mobile app development company that provides web and mobile app services from startup to enterprise-level companies. As a hobby, I love to write on the latest mobile technologies, Asp.Net Development Services, Flutter, React Native, Angular Development Services, Node.JS Development Services, app development, and mobile apps.

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