Python Programming for Banking and Finance

Posted in: April 9, 2019 at 8:27 am

By: Farheen Tabassum

Python Programming is the hottest tech asset in the entire Banking and Finance Industry.  Do you know the reason? The relative ease of use, high scalability coupled with ready-made libraries and components. Pythons unique modelling capabilities have also caught the attention of banking analyst, researchers, traders. Banks are hungry for high-level tech talents and non-niche programmers in order to surpass the current level of competition in the market. Therefore, Python has become a go-to language, overtaking Java,  at investment banks and hedge funds. The application of python in risk management and trade management has raised its popularity among the Fin-techs and Banking services. Python coding classes have also been arranged for banking analyst and traders as part of their education programs. Moreover, during the last two years, the job openings for python coders has almost tripled in the finance-related sectors.

Why Python rule the Fin-tech and Finance projects?

The large standard libraries of tools in Python saves organizations from spending a lot of time to build them from scratch. Python also offers quicker deployment and less required code. This allows to release products rapidly and gives a competitive advantage over others. It also saves the most important company resource that is employee time. Furthermore, python comes in handy with various applications like analytics, data visualizations and powerful machine learning algorithms. This enables predictive analytics which is very valuable to all financial service providers.

Machine learning algorithms, data mining techniques outperform humans and correspondingly dominate the trade sector these days. Traders who deal with the stock market mostly requires predictive analytical insights into market conditions. For this reason, Python is a good choice as it creates solutions to predict future price movements and also allows backtesting.

Python is undoubtedly the fastest growing language in finance. The Wall Street “Big Banks” like J.P. Morgan,  Citigroup along with Goldman Sachs is recruiting python engineers. Competition is on the rise. Python programming is a most-in-demand skill to score well in finance or fin-tech sector. This is the right time to learn this cutting edge language, add value to your tech stack and give a push to your career. Get trained in Python in Guwahati from an ISO certified institute with industry relevant courseware and world-class lab facilities. Livewire Guwahati will help you stand out against the current level of competition in the market.