{"id":5629,"date":"2020-02-12T10:23:49","date_gmt":"2020-02-12T10:23:49","guid":{"rendered":"https:\/\/codeandpepper.com\/?p=5629"},"modified":"2020-11-29T16:26:13","modified_gmt":"2020-11-29T16:26:13","slug":"select-technology-in-fintech","status":"publish","type":"post","link":"https:\/\/codeandpepper.com\/select-technology-in-fintech\/","title":{"rendered":"How to Select Technologies in FinTech: Part 2"},"content":{"rendered":"\n

Part I of this article<\/a> focused on awareness and gave a few examples of how technology choice can have serious consequences for the future of your product: to the point of making or breaking your business. Part II investigates how and why the ripple effect of this one decision can reach as far as your recruitment schedule, delivery plans and innovation potential. Mind you, this applies not only to technologies in FinTech!<\/p>\n\n\n\n\n\n\n\n

Tried and true<\/h2>\n\n\n\n

Assuming that you have carefully read Part I<\/a> (especially the section on requirements) and you know what you want to achieve, it\u2019s finally time to pick the technology stack. Yet, with so many available options, it\u2019s still hard to decide! The JavaScript ecosystem is a good example \u2013 pick any English word with JS at the end and you\u2019ll find an already existing JavaScript library. If you\u2019re still not satisfied with the result (which happened to many people many times), you can always write your own library and further fuel the infamous \u2018JavaScript Fatigue<\/a>\u2019. Usually, the situation doesn\u2019t get so dramatic, but you still have a lot of choices.<\/p>\n\n\n\n

\"The<\/figure>\n\n\n\n

Remember that every project is unique and has different priorities. Just because something was a good fit in the past doesn\u2019t automatically mean that it will be the best choice for your current project.<\/strong> Technology is changing very fast: it can be already outdated or there can be a better alternative.<\/p>\n\n\n\n

Keep an open mind: when your only tool is a hammer, every problem looks like a nail. <\/p><\/blockquote><\/figure>\n\n\n\n

Lay of the land<\/h2>\n\n\n\n

Stay aware of industry trends, but never to the point of being overly influenced or blindly copying technology decisions. Your goal is to leverage technology to stand out and gain a competitive advantage.<\/strong> I find it very educational to analyse different technology decisions and answer the question:<\/p>\n\n\n\n

Why did they make those technology decisions?<\/p>\n\n\n\n

It\u2019s likely that you will come across experts voicing opposite opinions, all providing seemingly strong proofs. Online research can be very useful, but as always \u2013 pick your sources with great caution. I believe choosing the optimal technologies in FinTech is more about practical experience: so experiment with different technologies, create prototypes, PoC (Proof of Concept), test a project or a small service and check what works.<\/p>\n\n\n\n

See you on the middle ground<\/h2>\n\n\n\n

Remember that there is no such thing as a perfect<\/em> technology stack. You will have to make room for trade-offs, because when it comes to software it is very rare for one technology to be strictly better than the other. It\u2019s always about trade-offs, even on the project level.<\/p>\n\n\n\n

\"No<\/figure>\n\n\n\n

GOOD \/ FAST \/ CHEAP: pick two<\/h4>\n\n\n\n