Developing the Go fintech app was not even challenging as it seemed. As it works with the
broader spectrum, especially in the finance app. Golang is a compiled and statically typed
programming language known for its strong concurrency support, efficiency, simplicity, and
more.
Recently, many programmers with experience in C++ and Python have shifted to Go or are
thinking of learning it because of its many parallels to those languages. Microservices, cloud-
based solutions, and backend and web development are some of the most popular Golang
application domains; among these, Go fintech was widely discussed.
Let's examine the significant advantages of Golang fintech.
Excellent scalability
In order to maintain momentum and prevent the niche from being filled by competitors, a startup
in the active growth phase must be able to scale its business operations swiftly. When a startup
decides to develop a fintech app, it's crucial to ensure the system can handle a significant rise in
users.
The Go programming language's concurrent Goroutines feature allows developers to build
scalable and effective solutions. Goroutines allow a single process to handle multiple requests
simultaneously, unlike traditional architecture, each execution thread needs its own Operating
System thread. Combining this function with Go's capacity to generate executable binaries
before deployment in the Go fintech app makes the Go app scalable.
High security
Base64, AES, and DES are the three symmetric encryption algorithm packages that are used
with Go. The finest security procedures can be followed with the help of hiring Golang developer
to make their projects safer, including:
โ Sanitizing all information transmitted through Subshell, which has direct access to the
system and can be hacked.
โ Encrypt web content with the html/template package to shield users from XSS (cross-
site scripting) attacks.
โ By utilizing Go's static binding and employing basic base images within containers, it is
possible to minimize the vulnerability exposure of containers.
These are the above tactics that used and make the Go Fintech app more secure.
Great performance
Go distinguishes itself from other languages by offering the best performance. In the fintech
industry, Go demonstrates exceptional performance even in highly challenging and intricate
scenarios, thanks to its efficient garbage collection. By 2005, the Golang team had significantly
reduced the time required for this process. Additionally, by utilizing Go's static binding and
leveraging basic base images within containers, it becomes possible to minimize the exposure
to vulnerabilities in container environments.
American Express is one of the financing companies that used Golang to note a remarkable
effect. The business started looking for a way to update its payment processing infrastructure as
the number of transactions grew. The developers experimented with a number of languages,
including C++, Node.js, and Java, before settling on Go, which processed 140,000 requests/sec
with the second-best speed but offered the most tooling, benchmarking, and profiling features.
American Express greatly increased the speed of real-time transaction processing by using Go
to develop payment microservices. According to the company's vice president, most developers
expressed their intention to stick with Go and not return to other programming languages. This
strong preference for Go indicates that the language delivers excellent performance.
Developer Productivity
Go's simplicity, and strong typing help enhance developer productivity. Its concise syntax, clear
error messages, and effective tooling make writing, reading, and maintaining code easier. Go's
focus on simplicity and minimalism also helps reduce the cognitive load, enabling developers to
focus on solving business problems rather than dealing with complex language features.
Rich Ecosystem
The ecosystem surrounding Go is expanding and dynamic, offering a diverse array of libraries
and frameworks that can be utilized to expedite the development process. For fintech apps, you
can find libraries for working with cryptography, financial calculations, payment gateways, and
more, reducing development time and effort.
Take Away
The reliability, speed, and security are crucial to the success of fintech firms as mobile banking
apps and web services replace traditional consumer engagement methods. Newcomers to the
fintech industry confront numerous obstacles and fierce rivalry from established institutions and
businesses, so building finance software with Go and Golang development company offers
simplicity, speed of compilation, and concurrent capabilities and has many advantages,
including higher performance, quicker processing, and less hardware load.
