A modern guide to financial tech application development

FinTech is an emerging industry and the UK is seen as a global leader in this space, according to Charlotte Crosswell, CEO at Innovate Finance. London is the hub for this. The UK FinTech State of the Nation report states that there are over 1600 FinTech companies in the UK and that it's likely to double by 2030. That's a lot, right? And it's not surprising when, with regards to global FinTech investment, the UK takes second place behind the US with a rather admirable $2,292.8m, as noted by Business Insider. There are a lot of UK government funding initiatives for this sector too. Statistica notes how the market's largest segment is Digital Payments; it has a total transactional value of a whopping £136,702m in 2020.

There is a great opportunity for developers who want to enter this space and create FinTech applications, many of which are based on Java and JavaScript related technologies. Sencha provides frameworks and high-performance UI components for JavaScript, React, Angular and GXT apps. Sencha Ext JS, ExtReact and ExtAngular each contain 115+ UI components. They also provide tools for testing and a theme visualiser which is useful for the creation of dashboard-style applications and the like.

Sencha's Kirti Joshi has created a short, easy-to-read guide that runs through the growth of financial technology applications, explains the importance of financial charting and financial dashboards, as well as the considerations you should bear in mind when building financial apps. She then briefly explains how Sencha's products can simplify FinTech application development.

Read the guide here.

Statistica's analyst reckons that we're still at the beginning of what FinTech could truly become, as the "future impact of cloud computing, IoT, artificial intelligence and blockchain cannot even be estimated yet". It's an exciting and fast-paced industry for application developers to be in, and it will be interesting to see what developments and technology innovations are to come.

If you have any questions or would like information on Sencha licensing as well as the other ways in which we can support FinTech businesses and application builders, please contact us on +44 (0) 1364 655 123 or email [email protected].

Plus, if you have a great FinTech application, we'd love to share it with our readers. Please get in touch!