Automation and digitization of finances led to the creation of the Fintech industry. Companies built digital financial products that could ease money management. RoR development became a primary technology because of its simplicity in development and dynamic functionality. It is one of the most efficient and productive platforms for FinTech product development.
The FinTech industry faces stiff competition. It is crucial to choose the right technology stack. And what better than Ruby development? The language is popular for its readability, flexibility, and scalability. On top of that, it offers the dynamic Ruby on Rails web development framework that smoothens the entire FinTech product development process.
Read more: FinTech App Development’s Five Notable Aspects For Startups
Companies using Ruby on Rails in the Backend
Rails development is not new to the FinTech startups world. The FinTech companies identified its capabilities to scale and develop secure and stable products. Apart from startups, some of the popular FinTech platforms built using RoR development include the following –
1. Fundera – Platform for B2B lending
Small businesses often struggle to get a loan and funding from investors and banks. Fundera is a platform for these businesses that can’t get easy financing. It is not a financial service offering loans. Fundera is a B2B lending marketplace that connects small businesses with people who want to invest in startups.
The entire platform was built with RoR development. When the users register, they are asked a few questions. Using this analysis, Fundera connects them with the right investors. The platform provides a personal advisor who then helps companies connect and communicate with investors.
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