How Java Development Helps in Fintech App Development

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How Java Development Helps in Fintech App Development
January 30, 2023
6 Minutes read
Rohit Rawat
Author
/ Blogs / Technology / Java
The most essential requirement for any Fintech app is that it should be highly secure. Java is a popular
programming language that is widely used in fintech app development because of various levels of security it
provides. Also, it is platform-independent, secure, and has a large ecosystem of libraries and frameworks. The
Java Virtual Machine JVM also allows for code to be written once and run on multiple platforms. These Java
software development services make it ideal to create a Fintech app.
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Reasons to Use Java for Fintech Industry
There are many reasons to use Java for the FinTech industry. The most important of those is the high level of
security it offers. We are going to discuss many more important aspects of Java development in this blog.
1. High Security
There are many reasons to use the Java programming language but the most important one is its security. Java
has built-in security features, such as secure socket layer SSL and transport layer security TLS encryption,
which are important for financial transactions.
Garbage Collection
Java uses a technique called garbage collection to help applications manage their memory automatically. To
reclaim the memory, the Garbage Collector GC discovers the useless items and deletes them. When there is a
new operator in Java, it consumes some part of the memory. The rest of the memory remains allocated until
something points towards the object. This process helps in dynamic memory allocation.
An object is deemed to be unnecessary if nothing points towards it. In this case, the memory it occupies can be
freed up. Since Java manages the deallocation automatically, an object does not need to be destroyed.
Java automatically performs garbage collection during the course of the program, negating the need to deallocate
memory and preventing memory leaks. That is the reason why almost every Java web application development
company uses Java for their technical needs.
We’ll see in the next point how this helps in preventing any kind of unauthorized data breach.
Memory Management
Memory protection restricts all activities from accessing unutilized memory in the OS because it protects the
software from taking over an excessive quantity of memory and perhaps damaging other currently running
programs or risking the loss of saved data. These memory protection tools also aid in the detection of malicious
or hazardous programs that might affect the operating system’s operations.
Java uses garbage collection, which is automatic memory management, in which JVM manages the memory. This
frees up developers from this task. Therefore, there is no chance for memory management to be flawed. This is
one of the most significant reasons to use Java for fintech.
Data Management
Programming languages like C and C use pointer values to control application memory and protect data.
However Sadly, hackers can gain access to private information by using pointers. Pointers cannot confirm the
identity of users who request data. Because of this, pointers will provide a hacker access to memory without first
verifying their authorization.
The internal memory and data management features of Java can thwart any illegal data access. These techniques
are far more challenging to hack. That is why these strategies should be an important part of your Java

application development services.
Using Private Keywords
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The Java private keyword offers the strongest degree of encapsulation and the most limiting access to variables
and methods. Outside of the class, private keywords cannot be accessed, and private methods cannot be altered.
Using public keywords may unintentionally replace data. Java’s private and particular keywords allow developers
to protect their data. Programmers can conceal important data during program execution with private keywords
without fearing that it will be overridden by external data.
2. Platform-Independence and Multithreading
Since your fintech app will solve a critical problem, you would want it to reach a larger audience. Different people
use different devices, and it is essential to engage all of them. In this regard, using a language that creates
platform-independent apps or software will do the job.
Platform-Independence
Software that can operate on a variety of systems is referred to as platform-independent. Java programming is
also made to run on a variety of operating systems and platforms. JRE/Runtime Environment is a platform for this
programming language and is integrated into it. The Java Virtual Machine JVM also allows for code to be written
once and run on multiple platforms. Therefore, you must hire Java developers who are experts in making full use
of this aspect of Java.
Multithreading
Multithreading means that it is capable of handling several jobs at once. The ability to run many threads allows it
to carry out several tasks concurrently. The function also contributes to resource, memory, and time savings.
Again, numerous simultaneous threads share the same memory and resources.
3. Rich in Libraries and Frameworks
Java offers several libraries, such as JavaFX and Spring, which can be used to develop rich user interfaces and
implement industry-standard security protocols. These interfaces will improve user-experience by making
navigation easy and visuals easy on the eyes.
JavaFX
Apart from security, the other most essential requirement for fintech apps is its user interface. If you create an app
that is easy to navigate and is easy on the eyes, it will definitely increase user engagement. And Java has libraries
that can do that.
A Java application development company uses JavaFX application code to use APIs from any Java library
because it was created as a Java API.
Applications built with JavaFX can have their look and feel changed. Developers can concentrate on code by using
Cascading Style Sheets CSS , which separate appearance and style from functionality. Through the use of CSS,
graphic designers can simply alter the application’s look and feel.
Spring Framework
Spring offers Spring Core, Spring IoC, and Spring AOP for connecting diverse business application components,
which helps to solve the challenges of developing complex applications like Fintech.
Developers can use ORM, Struts, Hibernate, and other Java frameworks in collaboration with Spring because it
was created to be utilized with all other Java frameworks. The frameworks can be used together without being
constrained by the Spring framework.
Why Narola?
Narola Infotech is a Java development company that has been making custom software for the past 17 years. Our
clients have loved our work and have appreciated the solutions that we provided to them. You can check out their
reactions by clicking here
If you wish to use Java for Fintech app development, feel free to connect with us.
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