Why Product Based FinTech Companies Hire ReactJS Developers?

In a survey conducted by Deollite, 73% of respondents worldwide said that they use online banking at least once a month. According to the same survey, 59% prefer using mobile banking apps. So, whether web or mobile, fintech apps will dominate in the years to come. rnrnFor fintech apps, the user experience remains a crucial aspect impacting the success and failure of any application. The fintech companies need to engage their customers in loan or insurance, or investment products instantly and make the value propositions clear in a convincing manner. On the other hand, fintech companies need to ensure faster scalability with the growth of their customers and queries. No wonder, when you hire ReactJS developers for a fintech project, it fits into all the crucial frontend requirements.rnrnRead more at: https://www.finextra.com/blogposting/21395/why-product-based-fintech-companies-hire-reactjs-developersrnBacklinks Image For Post

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The fintech companies and startups relying heavily on the seamless customer experience across their multiple digital footprints always prefer technologies that allow reusability of code and ready to use components. This is why
ReactJS has emerged as a popular JavaScript library for fintech app projects. Several other reasons make product based financial firms

hire ReactJS developers for their app projects.
In a survey conducted by
Deollite, 73% of respondents worldwide said that they use online banking at least once a month. According to the same survey, 59% prefer using mobile banking apps. So, whether web or mobile, fintech apps will dominate in the years to come.

For fintech apps, the user experience remains a crucial aspect impacting the success and failure of any application. The fintech companies need to engage their customers in loan or insurance, or investment products instantly and make the value propositions
clear in a convincing manner. On the other hand, fintech companies need to ensure faster scalability with the growth of their customers and queries. No wonder, when you hire ReactJS developers for a fintech project, it fits into all the crucial frontend requirements.
Understanding the ReactJS Framework Before Hiring ReactJS Developers
Irrespective of the business niche, businesses prefer to hire ReactJS developers for all kinds of app projects. Today, ReactJS is the technology used for the world’s most popular apps such as Netflix, Facebook, Instagram, Airbnb, New York Times, WhatsApp and
many more. Now, an increasing number of fintech startups, particularly product-based ones, rely on ReactJS. Certain potentials of this framework or JavaScript library make it stand apart from others. Let’s have a quick look at them.

Why Hire ReactJS Developers for Fintech Apps?
ReactJS is an open-source JavaScript library created by the Facebook team to make developing app user interfaces or frontend easier with a component-based architecture. After being launched way back in 2014, it became the dominant web and mobile app development
technology for app projects of almost all niches.
Though fintech
app developers realized it a bit later, now React is synonymous with the most performance-driven technology for fintech and banking apps. Now React library offers all the useful components for app projects, making it invincible for businesses to hire ReactJS
developers.
Usually, a fintech app involves building components like User Profile, User Account, Navbox, Money Transfer, Loan Products, Investment Products, Value Added Banking Services, Contact, etc. ReactJS ideally suits such app projects because it makes maintenance
easier through Real Dom and a Virtual Dom. While the Real DOM takes time to update a single change and often impacts the performance, the Virtual DOM ensures streamlining the changes in real-time. This provides higher stability and superior performance of
the fintech apps.
React allows code reuse and enhances code quality by enforcing SOLID architecture is another key reason to opt for the library. ReactJS allows the developers to share the JavaScript logic functions across platforms like formatting, data fetching, state management,
etc. Still, the framework also allows developers to share and reuse ready to render components in their banking apps. This results in higher consistency of the app user experience and faster development.  Understanding the Hype for ReactJS based FinTech Apps
A crucial reason for React’s emergence as the most popular technology for fintech apps is its open-source community supported nature. It allows adding new libraries and brings more value to the platform in many ways. This is particularly important for the fintech
apps to cater to the fast-evolving needs of financial services communities.
ReactJS, unlike many other JavaScript libraries and frameworks, comes equipped with all the key components and attributes needed for the development of fintech app UI. Some of the notable FinTech app categories that were made easier thanks to ReactJS include
the following.

With ReactJS, you can easily streamline your focus on the key business logic and crucial user experience attributes of the fintech app products as you get a robust templating engine and ready-to-use app components. This is where ReactJS seems to offer an
unparalleled level of value propositions for fintech app projects. Apart from lowering the development time and cost for the app projects, React also lowers the maintenance time to a minimum through its robust plugin library.
Conclusion
Fintech apps happen to be one of the fastest evolving segments requiring versatile, scalable, and flexible technologies to cement the brand footprints across both web and mobile OS platforms. ReactJS comes as the most suitable and powerful frontend library
to meet these crucial requirements. No wonder an increasing number of fintech startups and established financial firms have started to embrace React for their digital offerings.

Why Product Based FinTech Companies Hire ReactJS Developers? https://www.finextra.com/blogposting/21395/why-product-based-fintech-companies-hire-reactjs-developers

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