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With the financial industry’s shift towards digital and cloud based solutions like Checkout.com and challenger banks like Revolut, it’s not surprising that the global Fintech industry has an annual growth expectancy of 24% between 2022 and 2025.

Fintechs have to stay ahead of the times, and Golang is becoming frequently adopted by some big players due to its speed, simplicity and scalability. Golang is about speed, concurrency and elegance, making it a good fit when it comes to handling the continuous requirement of financial data from customers 24/7. This alliance is pushing Go into the limelight, after spending the first few years on the fringe, firmly in the niche department.

Fintechs used to be dominated by enterprise scale tech like Java and Python. But with Python’s sluggishness and losses in multitasking due to poor concurrency, big names like Paypal now have over 30% of their payment processing platform migrated to Golang.

American Express started using Golang way back in 2016 when they were looking for a new programming language. They conducted an in-depth evaluation of 4 languages including Java, Node, Go and C++, which they named the Language Showdown. Go came out a clear winner – if you’re interested to know why, you can read the full report here.
We’re currently seeing a lot more competition in the market, suggesting that Go is steadily moving from niche towards speciality sector. The demand currently outweighs the supply, putting candidates in a great position to progress quickly with plenty of opportunities.

We asked Mat Evans, Senior Go Consultant at Jetstack for his opinion on where the programming language was heading:
Having been using Go since 2013, I’ve seen a lot of change. With the rise in the popularity of Go, there has also been a trend towards using it for projects that are becoming the building blocks of the internet; for example, Kubernetes, a container management system open-sourced by Google is written in Go and used by a wide range of different companies. Go has always been very container friendly with its simple binary output and cross-platform abilities.

Along with the rise of Go as a language, there has also been a rise in a type of company that is relatively new: the technology company that does x. My favourite example of this would be Monzo. They are a tech company that happens to be a bank, building with Go right from the beginning.

Unsurprisingly they also use Kubernetes and this junction of infrastructure and code with Go in the middle is seen in lots of places giving engineers the capability to work across the stack. The developer experience with Go is also excellent; the community is second to none, and engineers new to go can be up and running in a short period.

All in all, Go continues to help companies execute their missions by giving their engineering teams the ability to focus on their problems, and not worry about their tools.

So Golang is on the up – it might have only been ranked 12th in the 2021 Stack Overflow survey, and for good reason. It’s still relatively new and immature; up until 4 years ago it didn’t even have a standardised package manager. Interestingly though, it ranked 3rd for languages that developers wanted to learn. It’s simplicity is its strength; it can be learnt easily by beginners and professional developers alike. With the global fintech market being expected to reach a market value of approximately £239 billion by 2026, Fintech and Go seem to be walking hand in hand towards a bright future.

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