How Programming Languages are Impacting the Finance Sector

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How Programming Languages are Impacting the Finance Sector

If you are thinking about licensing and putting a piece of financial software in place, you might not believe that the programming language it uses is a big deal. It can significantly affect how well your investment management software works for you. If you ever taught, How Programming Languages are Impacting the Finance Sector, then you came at the right place, in this article we discuss same thing only.

If you are thinking about licensing and putting a piece of financial software in place, you might not believe that the programming language it uses is a big deal. It can significantly affect how well your investment management software works for you.

Each language has its pros and cons. New programming languages improve efficiency, flexibility, and security like other technologies that change over time. Some older languages become less valuable and expose software applications to operational and security risks.

APL is a programming language that fits into this group. APL has been around for more than 50 years. It was first made for IBM’s System/360 timesharing system in the 1960s. Back in the day, APL’s short but complicated syntax of symbols was seen as a way to speed up the development process.

Now, its complexity is seen as a drawback, and better tools have replaced APL in commercial applications. SS&C got rid of its APL-based actuarial/risk application more than ten years ago because it slowed down, and fewer people knew how to code in APL.

We wouldn’t even think about supporting APL in any of our wealth management solutions today, but quite a few holdouts haven’t been able to get rid of this old language from their application code. We think this puts customers at risk in several ways.

How Programming Languages are Impacting the Finance Sector

Talking different languages

There is a reason why Gaelic and Basque are not as common as Spanish and Chinese as second languages in schools today. People want to learn languages that are used in business and culture. When it comes to programming languages, it’s the same. APL is not one of the top 20 languages on the IEEE list.

There is a small group of older people who know a lot about APL developers. This makes it hard to hire the best people right away. Younger engineers want to work for companies that use cutting-edge technologies so they can learn skills that are in demand.

Getting good at something that might be gone in a few years is not an excellent way to build a career. For example, you can use a standard keyboard to write APL code by mapping special symbols to the keys on a standard keyboard. As time goes on, fewer and fewer programmers know how to use the language.

Prevalence reigns supreme

Older programming languages were made for older versions of hardware and operating systems. The most used languages tend to change as developers create new apps for new technologies. Because many people don’t use APL, it’s getting harder and harder to move to more recent hardware and operating systems, which is a risk for businesses that use applications with APL code.

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No more upkeep

Languages like APL that are getting old often need workarounds that use old technologies and methods. For example, batch processing, end-of-day processes, and stop-and-go operations are all examples. You can use current seamless and live systems if you know more modern languages.

Variety is key

To build, test, and deploy their code, developers who use modern computer languages can choose a wide range of frameworks and design processes from reputable vendors. Older interpreted languages, like APL, don’t have a choice of development environments.

Modern interpreted cultures like JavaScript can be used safely for both front-end and back-end development, which is good for security and making the best use of talent. This has made it possible for developers to work on both the front-end and back-end code stacks.

But this can’t be done with older interpreted languages like APL because different teams of talented people need to work on other parts of the product. In the world we live in now, it’s all about staying in touch with our customers and making sure their needs are met.

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Avoiding significant business blunders

As languages like APL get older and reach the end of their useful life, they become more open to security exploits and performance problems. Applications with old codes can limit the services companies offer their clients and keep them from getting the help they need.

This is because security measures, like servers, are required to keep systems safe. As programming languages get easier to read, they become more accessible, easier to learn, and less likely to make mistakes. On the other hand, as a language gets older, the chance of making a mistake goes up exponentially.

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During execution, interpreted languages like APL are turned into code that can be run by a computer, one line at a time. This makes them take longer to run and more likely to make mistakes. Because interpreted languages like APL can cause many more mistakes after they are deployed, they can hurt businesses.

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