Importance of AngularJS Development Services in the Banking Sector

Krunal Shah

Dec 02, 2021

7 min readLast Updated Dec 02, 2021

The world of web and software development witness momentous changes every now and then that disrupt the way of working and bring forth a new wave of technological advancements for the betterment of so many business sectors. There must be only a few industries that grow as fast as the IT and tech industries do.

Over the years, the banking industry has always shied away from technological advancements in its sector. This changed until AngularJS development revolutionized the way things were done, especially in the field of finance. AngularJS became a turning point and an ideal framework that’s gotten many in the banking sector excited. Equally thrilled are developers who finally feel banking applications can finally be done justice with. Well then, let’s uncover the importance of AngularJS, a language worth discussing and investing time into.

But before we jump straight into it, let’s begin by understanding AngularJS and what makes it so popular, especially in the banking mobile app development space.

Table of Contents

What Is Angular JS?

Google’s prodigy, Angular JS is an open-source, structural JavaScript framework primarily intended to design single-page applications and dynamic web apps. HTML when used as its template language allows for a better presentation of the components.

While HTML still remains the go-to language for static web documents, it doesn’t do justice when it comes to creating dynamic web apps. HTML when compared to AngularJS is great for dynamic web apps allowing more room for easy movement of data. Thanks to the Document Object Model (DOM) in AngularJS, any change in the application’s view gets automatically updated without having to do anything more. Basically, AngularJS enhances the functionality of JavaScript, CSS, and HTML hence making them more powerful.

AngularJS is best used for creating complex applications requiring layers of features and specific points to facilitate user interaction. What makes AngularJS an exemplary and robust web solution is its features like dependency injection, two-way binding, reusable components, integration testing, templating, modules and filters.

Also Read: 8 Useful AngularJS Tools for Developers to Build Creative Web Apps

A New Dawn for the Banking Sector

Our lives today are engulfed by technology and the internet. From buying products to paying bills, almost everything is possible via the click of a button and a mobile app to assist you. Similarly, more and more people are banking and transacting online today. Whether it’s as simple as checking account balance, calculating interests, or tracking loans. Gone are the days where people stood in bank queues to perform their banking transactions.

Developing a mobile app for any industry comes with a challenge. But the development of the banking industry, in particular, goes through tremendous scrutiny since there are a number of things to consider. From cybersecurity, authentication, online payment services, and UI/UX elements, everything from a to z needs to be incorporated flawlessly.

This becomes even more challenging with the industry’s deep-rooted conservatism and traditional approaches of working. Bankers do not always agree to things in the first go until they see the merits and opportunities of adopting newer solutions. Things changed until a few years ago when it emerged that the banking industry was gearing up to embrace agile development by going ahead with integrating AngularJS into related bank Java programs.

As a framework, AngularJS offers top-notch front-end development solutions across myriad industry sectors When speaking about the banking sector, this framework seems to be a reincarnation and a new chapter for the banking industry, giving it a much-needed breath of fresh air. The introduction of AngularJS in the banking sector is sure to be in alignment with continuous delivery and agile development to keep up with the technological trends of the world

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How Choosing AngularJS Can Help You Develop the Best Banking App

  • One of the best reasons for choosing AngularJs is that it not only uses JavaScript but HTML as well. This allows the logic and architecture of applications to work faster and the communications to be more secure and reliable with HTTPS.
  • No matter what the industry, every business owner looks for cost savings when it comes to developing their products. AngularJS development has the quickest development speed. This leads to more savings in terms of cost and the time needed to design, develop, test and deploy applications.
  • Using HTML-based templates enhances Angular with tons of useful features. This enables developers to set filters to understand the behavior of users’ actions and gain an insight into what’s working well without the need for an application code.
  • It is possible for an Angular application to function in a modular system. These modules can work individually or be lined up together to perform certain actions.
  • Angular’s lightning-fast speed and ease of developing mobile apps make it a really cost-effective option to choose from.

Also Read: Why hire an AngularJS development company for app development?

The Popularity of AngularJS amongst Developers

So what do you think makes AngularJS so well-known amongst developers? Let’s find out.

  • AngularJS has a simple learning curve when compared to other programming languages and frameworks. It’s a lot easier to grasp and work with.
  • It requires lesser code which in turn means lesser time spent on the developer’s end.
  • AngularJS as a framework is cleaner, easier to understand, and simpler to maintain.
  • Understanding AngularJs becomes a lot easier for those developers who have already been exposed to or worked with HTML before.
  • AngularJS is more compartmentalized and modular in its structure and allows for parallel development to happen.
  • AngularJS is a high-quality framework that is developed, backed, and regularly maintained by Google and has an active community of developers in its network.
  • AngularJS provides notable extensibility and testability for customized business applications.
  • It is more detailed and thorough thereby quickly allowing developers to find bugs in frontend development before users can get to it.

The Popularity of Angular JS in the Banking Sector

If we are to list down the features of the best mobile banking app then what would the list entail? What does it take to hit a home run in the banking mobile app development arena?

There are a number of features that make a mobile banking and finance website. However, security, speed, and privacy are a few factors that rank at an all-time high and are perhaps the most important. So how does AngularJS fare in these areas?

  • AngularJS provides the highest speed of work.
  • AngularJS uses in-built security features to mitigate security risks and vulnerabilities.
  • Its data binding options on the client-side and its ability to interact with databases on the server-side leads to the users having a smoother, hassle-free experience.
  • AngularJS also gets a lot of leverage due to its creation by Google and adoption by so many other big companies including HBO, NASA, General Motors, Virgin America, Netflix, Nike, MSNBC, and Sony.

Also Read: Types of apps an AngularJS development company can build for you

Benefits of Using AngularJS for Banking Mobile App Development

Higher Extensibility

The needs of a customer using a mobile app service are ever-increasing and evolving in nature. Due to the heavy online traffic, a banking app receives, it’s necessary for the framework to be powerful enough to respond rather quickly to the requirements of the customer. AngularJS offers high extensibility to deal with traffic surges without any hiccups.

Better Performance

AngularJS powers web applications in the fastest manner at an impressive speed. It ensures excellent performance even in areas with poor infrastructure. The perfect execution of customized apps is what works in favor of this framework through which it becomes possible for it to quickly and efficiently create modern web applications.

Licensed Software

In the banking sector, there is always a limitation of licensed software, especially when working with open-sourced projects. Thankfully, AngularJS does not face this issue as it uses the MIT software license which is compatible with GPL. This gives developers a freeway to reuse most of the code as long as it is within the prosperity programs of the sector.

Wrapping Up

An industry that has been a late adopter when it comes to embracing new technology, the banking sector is now getting on board with AngularJS. The architecture of a robust and reliable framework like AngularJS speaks for itself. Its feature-rich web solutions, many advantages, and its ability to develop complex, intricate, and highly efficient front-end solutions, with a super-fast speed and fewer bugs has now made it possible to use AngularJs in the banking sector.

AngularJS can bring a change in the banking sector with its interactive, sophisticated, tailor-made, and user-centric websites and applications.
Looking to develop the best mobile banking app? Unlock the advanced technology and prowess needed to get exceptional banking and finance app development solutions. Here at Third Rock Techkno, we hold the power of working with leading technologies and crafting customized solutions for our clients from varied industries. Get unparalleled security, smooth execution, and adaptability with tailor-made solutions for the banking sector. Let us help you carve next-gen banking apps for you to deliver exceptional value to your customer.

Krunal Shah

Krunal Shah is the CTO and Co-founder at Third Rock Techkno. With extensive experience gained over a decade, Krunal helps his clients build software solutions that stand out in the industry and are lighter on the pocket.

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