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The Future Of Angular.js In The Banking Industry

When it comes to specific software solutions, questions about whether the language in which they are written is good or bad are unlikely to get a correct answer.

It’s like asking what is best to use for food — a spoon or a fork. Eating soup with a fork is extremely difficult. Eating a steak with a spoon is inconvenient, and, for example,  you can put sushi into your mouth with either one. Still, if you do not do it with chopsticks, you will most likely look eccentric. But after all, no one says that spoons are the exact thing for all occasions, but only retrogrades use forks.

So, it is with programming languages, of which there are more than 80 in the world today.

The question is: what tasks are you going to solve with their help? For example, Python is indispensable for the analytical processing of Big Data, and Node.js is ideal for operational multitasking.

Some platforms can start cheerfully, like, for example, Joomla, the first release of which fell in August 2005, but not hold its position. Some kind of solution – a vivid example of this is WordPress, which was first released in May 2003, can overclock for some time, but after a while, become the de facto standard in its field.

And there are times when a new language, having just appeared on the market, literally turns all ideas about programming upside down. Precisely this story happened with JavaScript. 

Today, JavaScript is an almost universal cross-platform development environment for any software solution – both on the client-side and the server-side. Connecting the appropriate libraries allows programmers to run various platforms for eCommerce web development. The architecture of the solutions, based on JavaScript, makes them ideal tools for working with finance, including, of course, the banking sector.

First, let’s figure out the terms

If we start talking about software solutions for the banking sector, we will definitely speak about JavaScript frameworks. First of all, of course, about Angular apps.

But before saying, for example, that usability goes first in mobile apps, based on Angular, it is necessary to clarify some terminological nuances so that there is no further confusion.

It is crucial to keep in mind that the open-source AngularJS framework, intended primarily for developing single-page applications, was launched on October 20, 2010. Due to a change in the development team and some other circumstances, in 2014, the group of new programmers rewrote this framework from scratch. This product got the name Angular or Angular 2. This software solution is fundamentally different from Angular and has no backward compatibility with it. Almost all modern development is based precisely on Angular. However, since this software solution grew from JavaScript, you can often find writing AngularJS when it comes to its second reincarnation.

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To avoid possible misunderstandings, we emphasize that in this article, we are talking specifically about the version that began its countdown in 2014.

What do we mean when we talk about Angular alternatives for banking?

As is well known, banking is one of the most conservative areas of business. Bankers agree to any changes in the usual way only after these revolutionary innovations prove their reliability and viability. Therefore, IT specialists working with banks look for many additional arguments when answering the decision-makers’ questions “Why use angular?”

Here are just a few of the most obvious reasons why it makes sense to use Angular actively in this area.

  • Angular is based not only on JavaScript but also on HTML. It means that the logic and architecture of single-page applications built using this framework assume fast and reliable communication with HTTPS servers, including remote databases.
  • For the above reasons, Angular provides the fastest development speed. And this, in turn, means significant savings in time and money needed to develop, test, and launch new applications.
  • The ability to widely use HTML-based templates enriches Angular web applications with a host of valuable features. Such structure allows a developer to set any filters to determine the behavior of elements on the page, depending on the user’s actions. Meanwhile, the application code does not require any intrusion.
  • An Angular app can work as a modular system. Moreover, these modules can be lined up in a chain to perform specific tasks, or each one can work in an autonomous mode.
  • The comparative simplicity and speed of developing applications in Angular make it highly cost-effective to hire Angular outsourcing services in cases where you need to develop a web application for any specific task quickly. You may visit this site page to see how short it will take from formulating the terms of reference to the final result.

But why exactly banking?

The architecture of Angular speaks for itself. Let’s just list the key features of Angular in brief. 

  • The highest speed of work, 
  • the ability to interact with databases on the server-side, 
  • easy extensibility due to modules 

All these are the hallmarks of a successful banking application.

In addition, Angular has another significant advantage, which turns this framework into a tool created specifically for banking from just an excellent solution for quickly and efficiently creating modern web applications. The fact is that banks, due to the specifics of their work, almost always have problems with licensing any open-source products. However, Angular is MIT licensed. And this fact completely removes any questions regarding the possibilities of using Angular applications in the banking sector.

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