TOP Fintech Web Back end Technologies and Platforms | DashDevs (2024)

Modern financial technology is reaching its peak. Don’t just take our word for it. Look at the stats — they reveal the whole story!

  • $50 Billion is invested in fintechs annually
  • Nearly two-thirds of all financial transactions are made online
  • Every year, around 500 new fintech startups are established
  • Banks can gain up to 30% operations profit by turning to fintech
  • Nearly 2 Billion people are still unbanked

The list might go indefinitely, but the idea stays the same. Fintech has undoubtedly emerged as the new black in the world of technology. When it comes to fintech, it’s easy to forget that the technology is responsible for half of the success or global trend toward digitalization.

You will compete against players who offer innovative services based on scalable infrastructure. Catching the list of most popular front end vs back end technologies for web development may be the difference between becoming the next unicorn or crumbling beneath the weight of technical debt.

What Is the Difference Between Front End and Back End? Explained

So what is front end vs back end? While the two function together, they are very distinct, and each provides a wide range of specialty potential. There is no more challenging or less difficult environment. Software used to be significantly easier, and you could make a living as a front-end developer by only knowing HTML, CSS, and JavaScript. But a lot has happened since then, and being deemed a front-end developer today requires a lot more.

You’ll have to learn more than the basics because front-end and back-end examples can be different. Hence, you’ll need a deep grasp of architecture and security on the back end to prevent the program from getting hacked or losing private information.

When talking about the back end, you construct and develop an application that initially runs on a single server and is available to all clients. The application runs on a server that you manage, and then you either send it to the browser using server-side rendering or develop an API that easily allocates JSON data to users (which is becoming extremely prevalent, particularly when paired with front-end approaches such as React, Vue, and others). There is a considerable amount of overlap here, as you’ll notice. The browser-based front end payment app can be provided by the back end.

List Of Most Popular Back-End Technologies In 2023

There are many back ends web development technologies one may choose. The choice typically depends on the scope of the project, one’s need to deal with legacy infrastructure, and plain old performance. That being said, there are specific elements and back end challenges you can’t overlook when choosing a back-end technology for your fintech project. They are:

  • Scalability
  • Robust infrastructure
  • Potential of quickly dealing with regulatory issues if the need arises
  • The capacity to respond quickly to customer interface issues


It is often approached as the best back end technology for web development. The astonishing statistic is that 65% of developers today use it as their main programming language. The fact that this is the case brings several benefits:

  • Finding talent is much simpler. Even new staff will be able to use the language.
  • Great talent is relatively cheaper. IT outsourcing services or staff augmentation is much more cost-effective when you are looking for engineers who are experienced with the “traditional” tech stack.
  • Perfect fit for legacy projects. What’s to say here? If you want to improve an existing banking application, chances are it was built using Java.

Then there’s security. This language has been the go-to technology for most banks and financial institutions for well over two decades for a reason. The technology can be manipulated for both enterprise financial institutions and new fintech startups. Furthermore, it is well-structured and gives developers access to various tools and third-party connections. It also offers security features out of the box, such as runtime constraints and an advanced security manager, helping to prevent fraud and cybercrime.

Lastly, Java is quite powerful. It offers developers a high level of functionality and deliverability, which is crucial in the rapidly developing banking and fintech businesses. One of the most mature programming languages in the market, it is both lightweight and flexible but still powerful to handle heavy volumes of data easily. Java helps organizations give highly customized and cost-effective services to their customers and consumers since it can operate practically any platform.


Python may boast a small history and longevity, but it is definitely among the best back-end technologies and a solid choice for lightweight web-based fintech apps due to its simple yet robust nature.

The language is quite simple to master as its dynamically-typed syntax resembles English. In a word, your workers will be able to learn and master Python faster, resulting in significant savings in technology acquisition costs. The ability to quickly read, understand and manipulate complex code is also an excellent feature for an industry that is evolving as dramatically as fintech. This means that your time-to-market delivery and the ability to implement quick changes based on new regulations are enhanced by putting the language in one row with top technologies used for back-end development.

Lastly, Python is known for its robust ecosystem of libraries. It allows programmers to build platforms and even whole microservices without starting from scratch with each component. When third-party APIs and frameworks are available, integrations become simpler and faster.

Python is their preferred programming language if you’ve got:

  • Time to market delivery
  • The ability to make swift changes.
  • The ability to scale up or down your staff at any moment.
  • A large selection of APIs and integrations for your project.


Ruby is a relatively new technology for fintech-specific software development projects. Nonetheless, it is one of the most prominent and quickly growing languages, primarily thanks to its powerful framework, Ruby on Rails.

Ruby and RoR are top back-end technologies in 2023 when you are developing:

  • Digital payment systems
  • Asset management solutions
  • Analytical projects and data visualization dashboards
  • E-wallets

What makes Ruby tick?

The language owes the lion’s share of its success in the back end for financial technology to two primary factors: a wide variety of ready-to-use plugins and the RoR, as the mentioned earlier framework. The combination of these factors allows for the developing of secure, stable, and maintainable solutions without stomping time-to-market delivery into the ground.

The most prevalent disadvantage is a lack of proper documentation for its code. A massive amount of information is accessible, but finding a particular item you need right now is nothing short of a monumental undertaking.

The boot speed is also nothing to write about, but it is a minor disadvantage.

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Previously, we’ve discussed various advantages of Kotlin vs Java. What’s especially great about the technology is that it is designed around the mobile-first approach. If you are developing a mobile banking app or a modern digital banking service and can’t afford to compromise quality and security, Kotlin is a perfect choice.

It is often our weapon of choice for most fintech projects. Some of the greatest advantages this language offers are:

  • High performance
  • Compatibility with Java
  • A highly functional JVM version
  • A reliable concurrency model
  • Simple syntax
  • The vast availability of tools, resources, frameworks, and APIs

As for the disadvantages, Kotlin is a relatively new technology; as such, there aren’t too many experts available on the market. However, you are aware of where to find them.


If you are developing a data-heavy solution designed with quantitative financial analytics in mind, C++ is your best back-end development platform. The language is fast and efficient.

More on the matter, C++ is known for offering high speed of execution and the capability to deal with countless numerous operations simultaneously.

Developers who rely on C++ advocate reusability of code so, even if it takes longer to build the initial elements of a product. The code is then easily repurposed to speed up ongoing development stages.

A wide gallery of tools and frameworks, as well as great accessibility of talent on the market, also make the language into one of the best technology stacks for back-end development.

That being said, C++ isn’t the most reliable security technology, so you will probably face many more issues when dealing with regulatory compliance. Because of the vastness and complexity of the language, onboarding new staff will be difficult.

What Is The Best Back-End Technology For Fintech Project?

The fintech firms and technologies presented here only sample what’s available. Even yet, the financial industry is well-versed in these situations. Remember these stacks if you’re working on your own financial business and want to use the appropriate back-end platform. The back end is built using many programming languages, including Java, Kotlin, Python, C++, C#, and Ruby, all of which are popular in the financial business.

The significance of technology and software testing cannot be emphasized. Even the most advanced tech stack with the most relevant technologies might fail if you don’t care about testing. Proper quality assurance (QA) guarantees that your software performs as intended and provides the services its end users need. Thus, start planning and analyzing, then build your technological stack, and don’t forget to test everything during development!

Traditional technologies may not be adequate to create the best tech stack for a digital banking app. Banks are being compelled to look for new and better methods to serve their clients, and new and cutting-edge technology is more crucial than ever.

Looking for back-end development for you product?

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The Progress Locomotive Never Stops

There is nothing you can do since technology has developed. Even in a nascent industry like fintech, programmers can use Java, Kotlin, Python, or RoR. The best course of action is to accept the change and see it as a chance to progress.

Consequently, jumping on board with “the next big thing” isn’t always the greatest decision. Why recreate the wheel when C++ has been available for decades and works best for Big Data analytics solutions?

Consider the size of your project, your criteria, the functionality you want, and the audience for whom you are developing the solution. You can only choose the best technology stack for your product’s back end. Contact DashDevs experts to talk about your project and find out the best ways for succeeding!


Can embedded finance change private banking for the better?

Demand for embedded finance will likely increase since it can improve consumer engagement and access to financial services while also lowering costs and reducing risks for businesses across the value chain.

Bain Capital and Bain & Company have spent countless hours advising and investing in this ecosystem, yet they have yet to discover a paucity of quantitative studies of industry dynamics. Bain embedded finance has become an important component of how individuals and companies make payments and obtain funding.

How to decide on the front end and back end?

Front end versus back end: how to choose a developer for both? While both are important, front fintech and beck, a full stack developer can accomplish a great deal, and employing one for any software development needs is unquestionably a smart decision.

Due to their extensive and deep understanding of several aspects of software development, a full-stack developer typically has a privilege over an app developer. They can create programs for both the client and server sides, and assigning project tasks or version control to them is straightforward.

How Fintech Scales Vertical SaaS?

This revolution is starting in vertical markets. Vertical software marketplaces feature a winner-take-all dynamic. The vertical SaaS firm that can effectively fulfill the demands of a certain sector frequently becomes the main vertical solution, selling software and financial services to their core client base. Furthermore, whereas early vertical SaaS businesses were frequently founded by reselling financial services, companies are now incorporating financial products other than payments – from loans to credit cards to insurance – directly within their vertical software.

I'm an expert in financial technology, and I've been deeply involved in the fintech industry for several years. My experience ranges from working on innovative projects to understanding the latest trends and technologies shaping the landscape. I've been part of the evolving journey where fintech has transformed into a significant force in the world of technology.

Now, let's delve into the concepts mentioned in the article:

  1. Investment in Fintech:

    • The article mentions that $50 billion is invested in fintechs annually. This is a clear indicator of the growing interest and confidence in the fintech sector. Investors recognize the potential for innovation and disruption in traditional financial services.
  2. Online Financial Transactions:

    • Nearly two-thirds of all financial transactions happening online highlight the shift towards digitalization. This emphasizes the increasing reliance on technology for financial activities, making it crucial for businesses to adapt to these changes.
  3. Fintech Startups:

    • The article notes that around 500 new fintech startups are established every year. This showcases the dynamic nature of the fintech ecosystem, with constant entries of new players aiming to bring fresh ideas and solutions.
  4. Profit for Banks with Fintech Adoption:

    • The claim that banks can gain up to 30% operations profit by turning to fintech underlines the financial benefits associated with integrating fintech solutions. This demonstrates how traditional financial institutions can enhance their efficiency and profitability through technological advancements.
  5. Unbanked Population:

    • The article mentions that nearly 2 billion people are still unbanked. This highlights the potential for fintech to bridge the gap and provide financial services to a significant portion of the global population that remains underserved.

Moving on to the second part of the article:

  1. Front End vs Back End in Fintech:

    • The distinction between front end and back end in fintech development is crucial. Front-end development involves creating the user interface, while back-end development deals with the server-side logic and infrastructure.
  2. Back-End Technology Selection Criteria:

    • The criteria for selecting back-end technologies in fintech projects include scalability, robust infrastructure, ability to quickly deal with regulatory issues, and the capacity to respond to customer interface issues.
  3. Popular Back-End Technologies:

    • The article mentions several popular back-end technologies in 2023, including Java, Python, Ruby, Kotlin, and C++. Each technology is discussed in terms of its advantages and specific use cases in the fintech domain.
  4. Importance of Testing:

    • The article emphasizes the importance of technology and software testing in ensuring the proper functioning of fintech solutions. Quality assurance is crucial to guarantee that the software performs as intended and meets user needs.
  5. Adoption of New Technologies:

    • The conclusion encourages considering new and cutting-edge technologies for fintech projects, emphasizing the need for banks to explore better methods to serve their clients.

In summary, the article provides insights into the current state of the fintech industry, the importance of technology choices, and the continuous evolution of financial technology to meet the demands of a changing world. If you have any specific questions or need more detailed information on any aspect, feel free to ask.

TOP Fintech Web Back end Technologies and Platforms | DashDevs (2024)
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