Although fintech is a rather new industry, the field keeps growing fast. The financial sector is changing and requires modern solutions for payments, investment, online banking and everything that can simplify money operations.
Today, fintech startups have the opportunity to create flexible and tailored apps thanks to development companies that provide custom approaches for their needs. Essentially, delivering solutions for financial startups is more complicated due to the specific nature of the sector. Any system that involves money assets requires security, responsibility, and self-sufficiency.
The first step for creating a workable and attractive product is choosing a tech tool on which your project is going to be built. In the diverse world of software, it may be confusing to pick the right one, especially if you’re diving into your first ever fintech venture. Ruby on Rails may be the viable option for your fintech startup.
Why Ruby on Rails?
Ruby with Rails framework can tackle all the challenges of fintech startups, as it has all the required tools. It allows having high-quality code for a short amount of time, and for a much more reasonable price. If that’s not convincing enough, consider the fact that giant apps such as Kickstarter, Airbnb, Fiverr and many others were built on RoR.
Kickstarter is the largest crowdfunding system in the world. Developed in 2009 on Ruby on Rails, now it serves thousands of investors and funders, which create a back-and-forth running money machine. Kickstarter itself supports the Ruby community and gives life to RoR projects on their platform. With a well-organized system of microfinancing, Kickstarter allows funders to supply different startups with volume money amounts in a form of a social network. Essentially, such systems suggest the highest level of security. Apart from that, it’s a framework that has a lot of in-built plugins and other features. Let’s take a close look at Ruby’s most compelling benefits for fintech projects: