{"id":627,"date":"2022-09-22T17:35:27","date_gmt":"2022-09-22T12:05:27","guid":{"rendered":"https:\/\/test.tntra.io\/blog\/?p=627"},"modified":"2025-02-24T17:12:30","modified_gmt":"2025-02-24T11:42:30","slug":"ruby-on-rails-for-fintech","status":"publish","type":"post","link":"https:\/\/www.tntra.io\/blog\/ruby-on-rails-for-fintech\/","title":{"rendered":"Ruby on Rails for FinTech: How is it helpful in Digital Finance?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #c4161d;color:#c4161d\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #c4161d;color:#c4161d\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tntra.io\/blog\/ruby-on-rails-for-fintech\/#The_demand_for_Ruby_on_Rails\" >The demand for Ruby on Rails<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tntra.io\/blog\/ruby-on-rails-for-fintech\/#Ruby_on_Rails_and_FinTech_Is_it_a_match\" >Ruby on Rails and FinTech: Is it a match?&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tntra.io\/blog\/ruby-on-rails-for-fintech\/#Conclusion\" >Conclusion<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.tntra.io\/blog\/ruby-on-rails-for-fintech\/#Listen_to_our_latest_podcast_episodes_on_Innovation_FinTech_and_more\" >Listen to our latest podcast episodes on Innovation, FinTech, and more!<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p>Launched in 2010, Stripe enabled businesses to accept payments from anyone and anywhere. The result was new business models like the emergence of Lyft and Kickstarter.<\/p>\n\n\n\n<p>Ruby on Rails is a key technology in Stripe\u2019s technology stack. It is an extremely user-friendly and scalable platform that handles millions of transactions every day. Using Ruby on Rails, they focus on the design and development of the application. Their ultimate goal was to deliver a smooth user experience.&nbsp;<\/p>\n\n\n\n<p>Strip offers a complete toolkit that allows businesses to come online in a simple manner. Today, Stripe powers 100+ businesses worldwide. Stripe has raised over $1 billion in funding. The company is renowned all over the world as an accessible and amazing payment platform.<\/p>\n\n\n\n<p>(Source: Ideamotive)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_demand_for_Ruby_on_Rails\"><\/span><strong>The demand for Ruby on Rails<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are a total of 1,093,214 live Ruby on Rails websites. The demand for the framework is still growing as companies look towards affordable options for FinTech software development.<\/p>\n\n\n\n<p>The top website that uses Ruby on Rails in its technology stack gets around 392 million visits every month. Goodreads, Airbnb, and WeTransfer are a couple of web applications that work with a Ruby on Rails app development company for their needs.<\/p>\n\n\n\n<p>7.45% of websites in the top 10,000 websites in the world use Ruby on Rails. The technology offers amazing scalability and affordability in website development. Therefore, many of the top companies use Rails for their web products.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ruby_on_Rails_and_FinTech_Is_it_a_match\"><\/span><strong>Ruby on Rails and FinTech: Is it a match?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>FinTech businesses face several challenges. The digital finance industry is filled with countless examples of failed solutions. The success of FinTech companies depends upon how properly they can implement digitization. Therefore, the need for a technology that can simplify FinTech solutions and offer a competitive advantage becomes imminent.<\/p>\n\n\n\n<p>Ruby on Rails is a technology that delivers on all these parameters. It is a simple framework that helps in designing amazing FinTech applications. Coinbase, Stripe, and Fundera are a couple of <a href=\"https:\/\/www.tntra.io\/blog\/salesforce-financial-services-how-custom-fintech-solutions-drive-innovation\/\" target=\"_blank\" rel=\"noreferrer noopener\">examples of FinTech solutions<\/a> that are built with Ruby on Rails.<\/p>\n\n\n\n<p><\/p><figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.tntra.io\/whitepaper\/holy-grail-of-fintech-indiastack-and-beyond\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"https:\/\/www.tntra.io\/blog\/wp-content\/uploads\/2022\/07\/whitepaper-cta-blog-bnr.png\" alt=\"Enterprise Modernization - Tntra Whietpaper\" class=\"wp-image-177\"><\/a><\/figure><p><\/p>\n\n\n\n<p><strong>Let us look at a few reasons that make Ruby on Rails a great technology for FinTech app development.<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Inbuilt Security<br><\/strong>FinTech solutions require high amounts of security due to the confidential data involved. There is personal information, transaction details, and whatnot. The framework offers several in-built security features to protect data and secure the FinTech application. Ruby on Rails for FinTech prevents hackers from stealing confidential information. It provides strong authentication features to safeguard the application.<br><\/li>\n\n\n\n<li><strong>Data Analytics<br><\/strong>FinTech focuses on processing lots of data to get valuable insights for better decision-making. Performance optimization is crucial when it comes to leveraging FinTech data for handling tons of data. A dynamically-typed language like Ruby is more fail-proof than statically-typed programming languages.<br><\/li>\n\n\n\n<li><strong>Scalability Functions <br><\/strong>FinTech products are growing. Therefore, solutions need scalable technology. Ruby on Rails helps build products that can handle concurrent requests. It ensures that FinTech customers don\u2019t have to face any lags while operating the application. Ruby on Rails is known to handle thousands of requests on the popular <a href=\"https:\/\/www.tntra.io\/blog\/ecommerce-personalization\/\" target=\"_blank\" rel=\"noreferrer noopener\">ecommerce development platform<\/a>, Shopify. Therefore, it is a powerful technology for FinTech solutions.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Ruby on Rails delivers amazing results in the FinTech space. It is a framework for secure and dynamic web applications. As the FinTech industry grows, the need for high-quality solutions will become imminent. Ruby on Rails for FinTech startups will help them achieve their desired goals and build reliable digital finance solutions.<\/p>\n\n\n\n<p>If you are looking for a <a href=\"https:\/\/www.tntra.io\/fintech-software-development\" target=\"_blank\" rel=\"noreferrer noopener\">FinTech app development services partner<\/a>, then Tntra is your go-to company. We are a <a href=\"https:\/\/www.tntra.io\/\" target=\"_blank\" rel=\"noreferrer noopener\">trusted software product engineering company<\/a> with FinTech expertise spanning over 3 decades.&nbsp;<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.tntra.io\/contact-us\" target=\"_blank\" rel=\"noreferrer noopener\">Consult us<\/a> today for your next project.&nbsp;<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Listen_to_our_latest_podcast_episodes_on_Innovation_FinTech_and_more\"><\/span>Listen to our latest podcast episodes on Innovation, FinTech, and more!<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<div style=\"width: 100%; height: 200px; margin-bottom: 20px; border-radius: 6px; overflow: hidden;\"><iframe style=\"width: 100%; height: 200px;\" frameborder=\"no\" scrolling=\"no\" seamless=\"\" src=\"https:\/\/player.captivate.fm\/episode\/1614e6f5-31ec-4075-9704-d165d381459d\"><\/iframe><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Launched in 2010, Stripe enabled businesses to accept payments from&#8230;<\/p>\n","protected":false},"author":3,"featured_media":1110,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,9],"tags":[],"class_list":["post-627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-domains","category-programming"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ruby on Rails for FinTech: How is it helpful in Digital Finance<\/title>\n<meta name=\"description\" content=\"Let&#039;s find out why using Ruby on Rails for finTech is the best idea. 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Read this article to know why Ruby on Rails is an amazing framework for FinTech app.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tntra.io\/blog\/ruby-on-rails-for-fintech\/\" \/>\n<meta property=\"og:site_name\" content=\"Tntra\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/tntraio\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-22T12:05:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-24T11:42:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tntra.io\/blog\/wp-content\/uploads\/2022\/09\/ruby-on-rails-for-fintech-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Parth Barot\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@tntraio\" \/>\n<meta name=\"twitter:site\" content=\"@tntraio\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Parth Barot\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/ruby-on-rails-for-fintech\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/ruby-on-rails-for-fintech\\\/\"},\"author\":{\"name\":\"Parth Barot\",\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/#\\\/schema\\\/person\\\/13b54d192ea2deeef161cc32b0d12027\"},\"headline\":\"Ruby on Rails for FinTech: How is it helpful in Digital Finance?\",\"datePublished\":\"2022-09-22T12:05:27+00:00\",\"dateModified\":\"2025-02-24T11:42:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/ruby-on-rails-for-fintech\\\/\"},\"wordCount\":633,\"publisher\":{\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/ruby-on-rails-for-fintech\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/ruby-on-rails-for-fintech-1.png\",\"articleSection\":[\"Domains\",\"Programming\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/ruby-on-rails-for-fintech\\\/\",\"url\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/ruby-on-rails-for-fintech\\\/\",\"name\":\"Ruby on Rails for FinTech: How is it helpful in Digital Finance\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/ruby-on-rails-for-fintech\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/ruby-on-rails-for-fintech\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.tntra.io\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/ruby-on-rails-for-fintech-1.png\",\"datePublished\":\"2022-09-22T12:05:27+00:00\",\"dateModified\":\"2025-02-24T11:42:30+00:00\",\"description\":\"Let's find out why using Ruby on Rails for finTech is the best idea. 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