Why is Python popular in FinTech?
Many agree that the Python programming language is one of the easiest to learn. And is often recommended as the first language for novice programmers. At the same time, it is a high-level general-purpose programming language. It has great potential to improve programmer productivity, development speed, and code readability. Every Python developer should have the following knowledge. The syntax of the Python language from fintech software developers is simple.
Here are presented popular libraries and frameworks. This item depends on the chosen IT direction. For example, if you plan to implement yourself in web development, the Requests library is an excellent choice. It will facilitate the processes of composing HTTP requests, the Django and Flask frameworks will also be useful. If you are passionate about machine learning, then Theano, TensorFlow, Keras, and other libraries will help you build and train neural networks.
IDE and code editor from fintech development services are at the center of attention. It is best to create projects in an integrated development environment (IDE) or a code editor. This allows you to make writing code as convenient as possible. Here are the instruments for syntax highlighting, auto-completion, build tools, the ability to debug code, and more. The most popular platforms are PyCharm, WingWare IDE, Komodo.
Digital wallets and payments
An electronic wallet is a virtual payment instrument, software installed on a smartphone or computer. With it, you can pay for a product or service online, transfer money to a bank card, so that in the future, if you wish, you can cash it out.
An alternative to e-wallet from lending management software – internet banking. But not all owners of online projects offer to transfer money through a bank, they say it is expensive or inconvenient. Therefore, people who make money on the Internet – programmers, designers, translators, copywriters, and many others – are paid for their work in an electronic wallet. No matter what are we talking about, fintech software development is ready to create a digital wallet. Money lending software is actively developed this languare.
Financial analytics
Python is actively used to create solutions which process and analyze large datasets. With its help is created data visualization. Also it’s related to statistical calculations. Libraries like pandas are ready to open doors to data visualization. As for Scikit-Learn or PyBrain, they provide machine learning algorithms and are widely used in predictive analytics.
Banking software
Python is the best solution for payment process. It’s great for online banking platforms, ATM software, and so on. It’s secure and reliable. There are such applications as Venmo. It combines powerful social media capabilities. And here is guaranteed secure structure with the use of the Django framework. Loan decisioning software is comfortable and popular among users.
Cryptocurrency
Market analysis tools for cryptocurrency for any cryptocurrency seller are a must. The Python framework Anaconda is the perfect solution. It can assist developers in the retrieve of cryptocurrency pricing and it helps to create visualizations.
The best Python libraries for FinTech development
For all sorts of mathematical calculations, fintech software development company is ready to create the product. For example, Matplotlib and Seaborn are used when data visualization is required. NumPy to work with the already mentioned linear algebra. SciPy is used for scientific computing. Pandas allow you to quickly analyze, cleanse and prepare data from a variety of sources – Excel, SQL, web pages, CSV files. Thus, Python libraries provide an excellent set for data analysis and visualization. Among the additional tools, Jupyter Notebook deserves special attention. It allows you to create very visual and informative analytical reports by sharing code and other elements.
