The terms ‘programming language’ refers to a formal computer language that is used to specify a set of instructions that may be used to produce different kinds of output. The spelling and grammar of a programming language are referred to as syntax. Computers will not understand anything other than what is typed in the form of syntax. Development of websites and online platforms used in fintech relies on certain programming languages and codes. It is therefore imperative to look at some of the fintech programming languages commonly used in the fintech sector.
Java programming language
Java has historically been widely used by financial institutions. It provides a secure and safe platform for financial data, thanks to its compilation nature. Most financial institutions, particularly banks, use Java as the main programming language. It enforces object-oriented programming models. Java is suitable for the development of applications that can run on a single device or a number of devices in a network.
Python programming language
Python is great at animation and easy to code. It is used as a supporting language. The language is widely used by banks for risk management platforms, trade management platforms, and pricing. For example, JP Morgan uses it for the bank’s Athena programme while the Bank of America Merrill Lynch has built a quarz using the language.
C# programming language
C# was developed by Microsoft as part of its NET framework. C# is both an object-oriented and multi-paradigm language combining the best of C and C++ languages. C# is essential for you if you wish to develop a Windows platform in future. C# is a very popular programming language with its experts being highly sought after in the financial services sector.
C++ programming language
C++ is a highly sought after skill in investment banking and other institutions where high speed is key. It is a general purpose programming language with imperative object oriented as well as generic features. C++ is one of the best programming languages for low-level memory manipulation. The language is also good for resource constrained applications and software infrastructure.
Matlab programming language
Matlab is one of the quantitative finance programming languages. It is a proprietary programming language and allows matrix manipulations, implementation of algorithms, plotting of data functions and creation of both user interface and interfacing with programmes developed in other languages like C, C++, Java, C#, and python.
R programming language
R is basically an open source programming language popular among data miners and statisticians. Statisticians use it in the development of statistical software and data miners in the development of data analysis software. In fintech, R is key in the development of Big Data analytics software.
As you have discovered, there are no programming languages specifically for fintech. What we have listed above are programming languages which are most preferred in the fintech sector though they may be used in other fields. Their suitability in development of platforms and apps needed in the fintech sector makes them critical to the fintech sector.