Ultimate Fintech tech stack in 2 minutes
Are you a Fintech enthusiast (like me)? Or are you looking to start your own Fintech company? Here's what your infrastructure should look like.
A typical Fintech infrastructure (excluding DeFi) consists of three components: the frontend or user-end, the backend, and the storage or data-end.
Let's create an imaginary lending company named Givting, which operates via web and mobile apps. This means that customers can access loans by logging in either through the web or the mobile app.
1. We need a website and a mobile app. To save time and money, we can use React and React Native for web and mobile development. It is crucial to make the frontend as user-friendly as possible, as better frontend design leads to increased customer satisfaction.
2. We need a secure and safe way to store user information. We can utilize cloud services such as AWS or Azure, which provide database management services. By using these platforms, we can ensure that users' information remains private and readily available for their use. It is important to note that AWS/Azure are paid cloud computing platforms.
3. We need a way for the frontend to communicate with the database, handle loan requests, perform email verification, integrate with third-party payment APIs, and more. This is where backend technologies come into play. Technologies like Django, Node.js, Express.js, Flask, Ruby on Rails, and others can handle communication with the server and other backend tasks.
Selecting the right tech stack or infrastructure is crucial when building a Fintech solution. While this is a brief summary, if you need consultation or assistance with building your Fintech service, feel free to reach out to me!