Why do Fintech Startups Prefer the MERN Stack?

MERN Stack: Most Preferred Solution for Fintech Apps

The fintech domain have rapidly grown, especially due to the pandemic that accelerated digitalization within all business sectors.

And now what do you mean by fintech?

Fintech stands for ‘financial technology’ and it is very simply the integration of technology for providing and delivering financial services. It involves digitizing existing financial processes and services (like banking, money transfers, credit applications, payment gateways etc). And also it enables both the financial institution and its customers to use the technology.

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MERN Stack is a collection of powerful technologies and robust, used to develop scalable master web applications comprising backend, front-end, and database components.

The MERN is one such technology stack that has become the preferred choice among most of the fintech companies nowadays. Together, It provides a full-stack development environment and easy code maintenance and together, MERN Stack helps you build web applications and deploy them faster and easier.

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The MERN Stack technology integrates MongoDB, ExpressJS, ReactJS, and NodeJS in JavaScript.

M- MongoDB, It is an open-source document-oriented NoSQL database.

  • It can be used as a database to create a schema, tables, variables, etc.
  • It is highly fast and scalable.
  • It offers ease of data transmission
  • E-Express, is a backend web app framework.

    Express makes it easier to write backend code using Node.js by providing libraries and middleware that simplify the entire coding process.

    R-React is a front end development technology

    It is a versatile language and is really fast and scalable because of its ability to efficiently handle variable data’s.

  • It also allows developers to re-use the codes as required
  • N-Node.js – It covers the backend technology of the MERN stack.

    It provides security & scalability to an app

    Why is the MERN stack best suited for Fintech Applications?

    MERN stack has a lot of advantages for building a robust Fintech Application. And moreover, it reduces the development cost without compromising on the quality. Let’s look into few of those advantages:

    1. Full stack solution: MERN is a full-stack solution, and the entire app can be built using MERN. Therefore, it takes relatively less time and money.

    2. Open source: All the technologies in the stack are open source, which further reduces the cost of development as no licenses are required

    3. JavaScript based: Express, React, and Node.js are all JavaScript-based. Since they use the same language, it’s easy for developers to build using MERN.

    4. Fast and efficient: Since the technologies that make up MERN are highly compatible with each other, applications built will be extremely fast and performance-rich.

    5. Highly scalable: MERN applications are highly scalable, and that is an important requirement for fintech apps that needs to grow quickly as users increases.

    6. Secure: MERN Stack is secure and ensures that the data stored is safe..

    These aspects of MERN stack makes it the best solution for domains like fintech that will require high-performance apps, security, and scalability. So, if you are a fintech startup, MERN is something you should definitely try out.

    By concluding, the MERN stack for Fintech app is a great way to get started in the tech industry. By using the MERN tehcnology, startups can create a prototype quickly and very easily, which can help them grow their businesses. And if you are looking for a MERN stack development solutions reach us. Make a smarter financial app with our robost fintech app development services

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