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Ten Reasons To Choose Java For Your Fintech Project

Maryna Cherednychenko - May 17, 2021 - 0 comments

Java is an experienced player in the IT arena. Appeared back in 1995, it remains one of the most popular programming languages until now. Java is actively used in many spheres of app development. The financial sector is one of the leading areas of its appliance. Why do fintech devs prefer Java, and why might it be the top choice for your finance project? Let’s find out.

Why Is Java Popular?

Java has been holding leading ranks in the top programming languages chart for quite a while. Such fame did not come out of anywhere. It has logical foundations, proven by many years of experience in various fintech projects.

Java is reliable, secure, and versatile. Due to its object-oriented nature, it easily solves complex problems through modularity and code reuse. Java offers multiple features to make code writing simple and straightforward. For example, 

  • abstraction hides implementation details and lets user deal with essential things only
  • encapsulation packs code and data into one unit, keeping given class variables hidden from another class
  • polymorphism makes the same things and achieves the same goals in different ways
  • inheritance gives child objects all the properties of the parent object, speeding up the coding process in general

Except for the above, Java code wins over with its reliability and safety. It is explained by the fact that Java objects are self-contained units that do not need external references.

Why Choose Java For Fintech?

Fintech covers banking apps, P2P services, insurTech, lendTech, regTech, robo advisors, and other solutions. Such apps are large-scale projects with a complex architecture, specific business logic, and exceptional security demands. Their success largely depends on picking the right tech stack. 

At Softensy, we consider Java the top language for the backend. We use it to create a robust app mechanism that seamlessly integrates with web and mobile clients, whether they run on native or cross-platform tools. Here is what makes us choose Java among other languages:

1. Versatility

Java is a very flexible language used for fintech development and related projects. It works well for cloud computing, blockchain, IoT, AI, ML, and other high-load systems. Android apps written in Java still dominate in mobile development. Desktop solutions keep pace with them. They make good use of JavaFX – a fully-featured toolkit to make rich client apps.


Java is not only a programming language but a whole range of other dev tools. Java may be defined as a modern software platform. It offers a popular virtual machine (JVM) that supports many modern languages. Some of them are Scala, Groovy, and Kotlin, which brought functional programming and Null security to Java.


Java is similar to C++ syntax but in an improved form. Instead of multiple inheritances, Java uses the much simpler concept of an “interface,” a named convention for calling a set of functions. Java’s strong typing will not allow an incorrect parameter to pass. Besides, its syntax will not create a method with an unused piece of code and will not compile a program with an uninitialized variable.

4.High Performance

Some believe that Java works slowly. It was once true, but not anymore. The thing is, virtual machines that ran Java bytecode were initially imperfect. Today, many optimizations were made for the needs of the enterprise. They have raised the speed of the Java ecosystem, and the JIT compiler has wholly reduced the difference with compiled languages.

5.Rich Standard API

Java comes with an extensive toolset out of the box. You can create a GUI, use multithreading, control input/output streams, work with the network, access the database without installing extra libraries. Java API provides all fundamental aspects of programming for easy and secure app development.

6.Large And Trusted Community

Devs rarely encounter unique cases because many issues have already been resolved by someone else. Given this, an extensive community saves a ton of time advising proven solutions deduced by trial and error. There is a good chance you will find useful info on StackOverflow, Reddit, or other specialized forums. Besides, community legacy allows devs to use powerful IDEs, dependency managers, and servers for free.

7.Robust Security

In fintech apps, security has a particular connotation. Given that malicious attacks are evolving as fast as other technologies, you need to pay special attention to this point and be one step ahead of hackers. Java offers many ways to establish multi-level protection. Its runtime constraints, security manager, and security APIs contribute to writing safe code and building a stable app system.

8.Big Pool Of Developers

In the TIOBE index, Java has a strong position among the best-liked programming languages. The number of devs with varying levels confirms this. A deep pool of staff resources gives Java a major advantage over other technologies. When launching a Java project, you can be sure that recruiting will not be too hard.

9.Regular Updates

For the past four years, Oracle has been regularly releasing Java updates every six months. Such a pace indicates the owner’s interest in keeping the language at the proper level and the increased enthusiasm of devs in this technology. Thus, by choosing Java, you can be sure that you keep up with the times and follow the latest trends in IT.

10.Well-Structured Documentation

Java’s official documentation is very detailed and well-organized. It describes all current editions, tools, libraries, and specifications. The docs give helpful tips on how to develop, manage, and update Java apps. Given that the language is open-source, you can quickly start to work on a project using available manuals.


Why choose Java for fintech

Java Alternatives

Java has a proven authority in fintech apps development. Yet, modern devs are in constant search for task optimization. That is why a project written in Java is often Java-based to some extend only. For best results, the team may choose alternative languages and tools. Next, we’ll look at Java’s most popular competitors and their distinctive features.

Java vs. Kotlin

Kotlin is a statically typed programming language that runs on top of the JVM and is also compiled in JavaScript. The authors aimed to create a more compact and type-safe language than Java, which is also simpler than Scala. Among other things, simplicity has resulted in faster compilation and better IDE support.

There has been a lot of debate lately about whether Kotlin can replace Java. In our opinion, such global changes are still a long way off. Even though Kotlin code is shorter and easier to understand, it is inferior to Java in versatility and available tools. 

On Java, you can create free services, write your own API methods, make sites, servers, mobile apps, and do many other things. In turn, Kotlin is a new word in Android development. Its main pro is in a fresh look at things and the desire to provide developers with simple and handy tools that do not require a lot of code.

Our verdict is Kotlin for Android, Java for the backend. This is the exact way we combine these langs in our fintech projects most often.

Java vs. Python

Python is an interpreted high-level object-oriented language with strict dynamic typing. Together with dynamic semantics and dynamic linking, high-level data structures make it attractive for rapid program development.

Python is simpler, shorter, and easier to learn compared to Java. With all this, Java remains the number one choice for enterprise apps. There are a few reasons for this:

Lots of specific libraries. Although Python also has an extensive library base, Java libraries are more tailored for large projects.

Early errors detection. As a statically typed language, Java provides type safety that catches all potential errors at compile-time, not runtime like Python.

Code readability. Java code is easier to read and edit for other programmers because Java devs manually declare variable types. It means a lot for fintech projects because large teams of different specialists work on them.

Java vs. С#

C # is an object-oriented programming language with a secure typing system for the .NET platform. The syntax of C # is close to C ++ and Java. The language has strict static typing, supports polymorphism, operator overload, pointers to class member functions, attributes, events, properties, exceptions, comments in XML format.

C # and Java have been direct competitors for many years. Both languages ​​are great for large projects; they can cope with high loads well and have robust security. These languages ​​are hard to compare. Often, teams give preference to the technology with available specialists at a place. Also, the choice of language, to some extent, depends on the project specifics. C# is often the first choice for gameDev, while Java works better for backend and QA automation.

Java’s clear advantage over C# is its cross-platform nature. The .NET platform is more sharpened for Windows. And although .NET can be installed on Ubuntu, it is quite tricky to do this because there are no ready-made assemblies for each and every processor architecture.

Java Fintech Development With Softensy

Java is a proven technology that ensures a stable and glitchless app performance. At Softensy, we constantly use it for web and mobile development. One of our most significant projects, Ecobank, runs on Java. Its combination with other languages ​​such as Kotlin, Swift, Go, and Flutter strengthens app security and makes it work with maximum speed. 

If you are looking for the right technology for your fintech project, Java is a safe bet. However, the entire tech stack may be advised after thorough business analysis. If you need expert help, consult our managers. They will suggest the perfect solution after studying project details.

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