FinTech companies have shown their presence with great triumph in the modern business community. Numerous projects are taking shape on FinTech apps for investment, banking, automation, financial consulting, and management.
Besides, implementation of the FinTech software solution is helping in simplifying the process of money management through automation. Though FinTech is creating quite a buzz for effective business development, numerous challenges still affect financial technology products’ performance.
Among various challenges, the first is selecting the right technology that decides the future of financial services. Many technical tools come with their benefits and drawbacks.
But in the given context, the main focus will be on programming languages that help create appropriate platforms. Out of numerous languages ranging from Java, PHP, Rails, and Python, Ruby on Rails consulting (ROR) has proven its caliber to become a leading-edge framework for robust FinTech app development.
Ruby on Rails is open source software built on a programming language called Ruby that users can utilize for free. It is particularly suited for startups because it allows developers to create an intuitive framework for devising high-performing web pages and applications. ROR is known to resolve challenges associated with FinTech Startup Projects smoothly
Protection & Security from Online Fraud
Numerous online attacks (SQL injection, cross-site scripting, command injection, etc.) pose severe threats to web app security. So, FinTech app development companies must prioritize ensuring greater security from fraudulent attacks.
Nevertheless, the ROR framework has built-in security features that get into action by default. In addition, it also offers a secure development lifecycle that makes the security prospect of the project more complex.
Finally, the developer community offers updates for the ROR plugins, which creates a safer environment for the given platform. So, with such advanced technology, developing online web applications with efficient workflow is much easier.
- Read more Why Ruby on Rails is widely used for web application development?
ROR Development is faster than Other frameworks
The identity of ROR is firmly aligning with that of the startups. It is evident that most startups face time constraints and thus cannot deliver web apps and devices on time. However, ROR comes with ready-made plugins that permit the developers to build an application without rewriting the code.
Besides, ROR teams build applications at 30-40% faster than other frameworks. In addition, ROR performs on an MVC design pattern that initiates swift development of the app project; this, in turn, enhances the efficiency of the developers’ work.
With the given pattern, one developer can work on models, and the other can work on the controller. It will help the developers create an application three times faster than other programming languages.
ROR is Always about Quality
Most startups want zero bugs and high quality for their projects. To improve quality, ROR has a Minitest tool that lets you test for minute flaws! Furthermore, it supports TDD (test-driven development), and BDD (behavior-driven development) approaches that first write automation tests and then focus on coding. There is 100% code coverage using the given approaches with the present elaborate software architecture.
The given approaches improve the software quality and prevent the development of software bugs in later stages, thereby cutting the development costs to half. Besides, it adheres to the principle of DRY (Don’t Repeat Yourself) to preach code simplicity and offer consistent and testable code.
ROR Gets Support from Global Programming Communities
It is a fact that ROR gets support from the most active and vibrant web programming communities present across the globe. Sometimes even the best Ruby developers contact each other through conferences, write books, and gleefully share their experiences with their counterparts.
What does it convey? It shows that ROR is an open-source platform that works collaboratively and is available online for free. ROR communities regularly update the technology to push FinTech website development towards the zenith.
For any FinTech project, the ROR community offers testing and well-documented plugins to meet every possible expectation of the developers, such as comment and authentication system, and address all the issues whole-heartedly.
ROR Develops Scalable Infrastructure
While creating a plan for a startup, the most crucial thing that comes into the developer’s mind is scalability. With high scalability, the developer can handle the ever-increasing workload online. Moreover, it also helps devise a FinTech website or app that can cope with all users’ challenges and attract them towards your fold.
Besides, greater scalability also improves the app’s performance and increases the development procedure to a higher level. Likewise, a higher consistency also comes to life if scalability is taken care of by reducing the capacity problem and stabilizing the app’s working.
Various successful FinTech companies provide comprehensive support to the banking and financial services as their platform is built on the ROR framework. They offer valuable assistance with ample time and cost-saving options without compromising quality.
Though ROR development services are not devoid of flaws, they quickly fill the gaps and eliminate the issues. In that way, it can meet the demand of the industry efficiently.
Certain features of ROR development services help FinTech companies strike gold in their financial services. First is protection from online fraud to provide hard-core security to the economic projects. Second is safe operation helps in securing data storage most appropriately. It will eventually help in building a robust backend.
So, demand for the ROR framework is immense, and many FinTech companies are leveraging it to meet their project mandate successfully. Thus, there is no surprise that ROR is playing a crucial role in effective web application development, especially for FinTech.