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4 Reasons Why Dot Net Technology is the Best for Finance/Banking industry

Don’t you feel the need of safeguarding your finance website?


If yes, then here are some important facts waiting for you.


Finance- A delicate corner:


No matter a businessman or worker, the root cause behind slogging oneself is to fetch the maximum within a minimum time bound. This has somehow accelerated the competition standards to a cut-throat bar in the market. Finance, being one vital eminence of everyone’s life grabs the maximum attention which has demanded banking and finance businesses to uplift their service area. Resulting, commoners are bestowed to leverage numerous banking services via online portals.


What has changed so far?


Persisting the present time needs and demands, almost every bank or financial entity proffering insurance plans and much more have been established on the internet. Why? Of course, to upsurge their business standards and serve their customers more suitably.


Making your customers believe in your idea or online presence is as important as having an online portal for financial transactions. If your business isn’t able to move both these wheels parallelly, your online banking portal may end up disappointing you as well as your customers.


Over the past one decade, the fever of having a dynamic online presence has given businesses some real-time progressive goals to focus on. Following the same trend, a high majority of people prefer to go with a business offering more services and an exaggerated sphere of convenience.


So, what is the latest trend?


Undoubtedly, it’s online banking or other financial services performed over the internet. Be it transferring funds or paying loan installments, it includes everything. Despite the fact that 90% of smartphone users recommend going for online transactions, people are still afraid of encountering online frauds. This has ultimately given rise to increasing demand for secure online platforms.


What is the need of the hour?


In order to overcome all the obstacles of online transaction security, it is important to develop a protected online portal. And that’s a guaranteed possibility if the banking website is developed using Microsoft Dot Net Technology.


What is Microsoft Dot Net Technology and why developers prefer it?


Microsoft is one word that represents, innovation, smart work, trust and security in many terms. Excelling the IT niche, almost 16 years ago (on 13th February 2002) Microsoft launched Dot Net technology framework and entitled it as a programming framework having a number of elements. It runs on Microsoft Windows and contains an expanded range of class libraries enabling multiple functions to support the overall code structure. There are a number of elements that make a Dot Net framework, an ideal programming language to learn and excel in.


Dot Net Framework Component Stack-

Which are the multiple versions of ASP.NET?


ASP.NET 1.0

Released on 16th January 2002, this ASP version had an in-built Visual Studio.NET. Till a huge extent, it transformed the basic idea of developing a web application. In its initial approach, the detailed concept of exception handling and data binding was the biggest highlight of all times.

ASP.NET 1.1


On 24th April 2003, Microsoft launched this version with Visual Studio.NET 2003 and windows server 2003. This upgrade came up with better mobile controls and ensured automatic validation inputs.

ASP.NET 2.0

Microsoft declared it on 7th November 2005 with SQL Server 2005, Visual Studio 2005 and a Visual Web Developer Express. This version was specifically renowned for unlocking multiple features including- login pages, skins, master, grid view, form view, themes and seamless support for 64-bit processor operations. Apart from this, it proffered object data source, XML data source, and SQL data source.

ASP.NET 3.0


Launched on 21st November 2006, it opened the gateways to advance features including- (WWF) windows workflow foundation and (WPF) windows presentation foundation which ultimately helped developers in a lot of manners. Else than this, it ensured specific functionalities including- ASP.NET service hosting capability, windows communication foundation, and Windows CardSpace.

ASP.NET 3.5

On 19th November 2008, Microsoft launched 3.5 version of ASP.NET along with windows server 2008 and Visual Studio 2008. This version was the first one for having AJAX as an inbuilt part of overall dot net framework. The best part about this version included- LINQ, list view, data pager, and other data control features. As a part of this version, Microsoft came up with its 1st service pack labeled under ASP.NET 3.5 version having dynamic data modeling feature on 11th August 2011.


ASP.NET 4.0


Microsoft released it on 12th April 2010 with visual studio 2010 which helped in deploying the improvised features of core ASP.NET which included- ASP.NET multi-targeting, chart controls, ASP.NET MVC and much more. It also introduced the features to optimize the meta keywords which ultimately helped in making a web page SEO friendly in every manner.

ASP.NET 4.5


On 8th August 2012, Microsoft launched window server 2012 along with visual studio 2012 to offer an improvised support for CSS3 and HTML5 and MVC 4 technology. This version helped in improving the overall web forms and data access services.

ASP.NET 4.5.1


This particular ASP.NET version was available for the public with visual studio 2013 which was compatible on windows server 2012 R2 and Windows 8.1 specifically. When implemented, it helped to decrease the overall web design responsive time, fastened the operations and much more.

ASP.NET 4.5.2

launched on 5th May 2014, this particular version allowed access to different APIs available under ASP.NET apps. Apart from this, it helped to unlock features like- improvised event tracing, transactions, workflows and resizing different controls in windows forms.

ASP.NET 4.6


Made available on 20th July 2015, it was launched with EF 7 previews and visual studio 2015 for windows 10 and windows server 2016. It had improvised features including- seamless support for HTTP/2 in windows 10. It also had a wider range of APIs integrated with WWF, WPF, WCF, transactions, socket or networking reuse and windows forms.

ASP.NET 5 RC1


The latest version of ASP.NET was released on 18th November 2015, enabling all the features available in the previous versions with completely a new project type.

What are the leverages of working on dot net technology-

ASP.NET is an improvised version of dot net technology which comes with numerous perks to offer. And those are-


  • It requires fewer efforts to build up an elaborated code structure
  • Caching assistance and early binding is easily available within the dot net framework
  • The in-built classes or libraries can be reused as many times the developer wants to and ultimately fastens the process
  • It is compatible with CLR (common language runtime), C# and VB
  • Comes with in-built security elements which include- form authentication and Windows authentication
  • Holds the potential of separating the programming logic and presentations 


Now comes the turn to unravel the reasons why developers recommend dot net instead of any other programming language.


There is no doubt, a web application or a full-fledged website can be developed using PHP (personal homepage) language but there are ample of reasons making dot net a better option than any other programming language. Find out why-


  1. It opens the gateway to access and use multiple languages under one programming language at one go
  2. It proffers the liberty to enjoy horizontal scalability
  3. It permits developers to create masterpieces using multiple languages including- Java, Virtual Basic or C++
  4. Multiple tools and third-party integrations are already available within the dot net technology framework which can be seen through Microsoft Developer Network, whenever required
  5. A single dot net technology framework allows to develop and design multiple applications for different purposes including- management, supply, CRM and finance
  6. No matter at what stage the development process is, the entire design can be amended at any level without delaying the development process
  7. It is ideal to enjoy working with different platforms, tools and an apt programming atmosphere encouraging innovative designs and potential to develop a multi-tiered application
  8. Permits the access of working on a cloud network ensuring better productivity
  9. It allows access to multiple communication mediums including- email, phone, and fax


Major segments demanding dot net technology for better security-


When it comes to developing an online portal with all the enacted well, there is nothing better than the dot net framework. Keeping this in mind, here is a string of platforms relying on dot net.


  1. Smart inventory applications
  2. Customized CRM systems
  3. Interactive mobile applications
  4. Dynamically designed websites
  5. Business intelligence applications
  6. XML web services
  7. Online bookkeeping and accounting systems
  8. Logistics or supply chain online solutions
  9. Online storehouse systems


Why a finance/banking web page should be developed using dot net technology framework?


  1. Improvised performance: Gearing up the web app or page performance is one daunting task to deal with, especially for the developers. To overcome this issue, ASP.NET framework is the ideal solution giving a web app the potential to speed up the overall web application. Accompanied by a few uber cool features to add more to the page performance. And it all became possible with asynchronous programming models.

  2. Cross-platform compatibility: A single ASP.NET framework gives the developer the complete liberty to deploy the code structure to different platforms like- macOS, Windows, and Linux. Apart from these three, Microsoft has made some noteworthy efforts in order to bring Linux to a first-class type. At present, the containers are swallowing the clouds rapidly. Resulting, Microsoft ASP.NET permit developers to make the maximum out of the latest technologies like Microsoft AZURE which helps to deploy the developed applications to Kubernetes and containers without taking much pain.

  3. Asynchronous: A sort of programming patterns, now available in any ASP.NET framework to simplify the operations of third-party libraries. When it comes to fastening the integration with third-party APIs, including Asynchronous programming in your framework is a must. It works within the limitations of new MVC and Kestrel framework improvising the CPU cycle for database queries, I/O operations, and web service calls.

  4. Web API framework and unified MVC: In of the latest version of the ASP.NET framework, the unified MVC and Web API frameworks has been merged to bring more perfection in the overall code structure helping MVC serve the multiple web apps on HTML. The type of web APIs included within this framework is designed using XML and JSON. MVC helps to return the JSON data from HTML, whenever requested. Also, this technology blend allows access to a completely new range of Razor Pages. It can be considered as an alternate option for web forms which work on the similar principles of Razor pages.

  5. Multiple development modes: One of the most interesting features of the ASP.NET framework is the liberty to segregate the different coding sections on the basis of staging, development behavior, and production. Before ASP.NET core, there was not any specific feature to help get access to this function. It smartly supports to configure the developed application Startup.CS file. This feature is necessary to unlock the leverage of using different programming files like- JavaScript or CSS at one go. Accept it or not, this one element has expanded the overall scope of the ASP.NET framework in many ways.

  6. Dependency Injections: It is basically a framework feature which allows one object to supply the dependencies of another object, present within the ASP.NET framework. Here, the dependency acts more like an object used as a service. The dependency injections are preferably used the most within the ASP.NET MVC to ensure a seamless workflow. The segments where dependency injection is highly recommended to be used include- database contexts, logging contexts, and passing coding elements to MVC controllers. It is considered to be the best solution for- developing a separate or independent class, finalizing its objects, creating a medium to support an application with different configuration methods.

  7. Signal R and Web Sockets: When it comes to supporting web sockets, there is no better option than an ASP.NET framework. It ensures the seamless process, connections and interrupting communication background. Apart from this, Signal R is a complete framework unlocking the other features making the overall ASP.NET framework an interesting one to work on.

  8. CSRF (Cross-Site Request Forgery) Protection: The entire world knows, it is hard to break Microsoft developed code structure which ultimately makes it an apt technology to work on specifically when developing a banking/finance website. But do you know how that is even possible? Well, it’s possible due to CSRF (Cross-Site Request Forgery) protection. Basically, it is an authentication process which initiates automatically when detects any abnormal activity taking place within the code structure. For instance- you have logged in to your bank account and simultaneously opened any other website on another tab, this may infect or transfer your bank details to other websites which ultimately makes it easier for the hackers to fetch your details and misuse them. It all happens due to the website navigation where anti-forgery tokens are generated to eliminate unwanted practices. And in such cases, CSRF protection restricts any unauthorized to get access to the sensitive information. 

  9. Action filters: It allows the developer to implement the functionalities which can be administrated to yet another controller or any action without making any major changes in the overall action filter flow. Apart from this, the major help of filters is- authorization, error handling, caching, and custom logic.

  10. Self-hosted web apps: There are times when the developer needs to deploy a web application on the desktop rather than any server running on IIS. With the help of ASP.NET framework, a ‘self-hosted’ ASP.NET web app which can be accessed in multiple manners. Under the Dot Net 4.5 version, it can be accessed through WCF, Owin, and Nancy. When working on the ASP.NET Core, getting access over the complete Kestrel web server becomes easier. The biggest highlight of dot net core is that your developed web application is a console app which allows you to deploy the developed application with Kestrel and other platforms too.

  11. Swagger API: If you find it difficult to test your implemented APIs then it is ideal to use swagger. In order to understand the swagger’s potential, develop an application with APIs. Just in case, you are working on MVC or Web API to fetch the most accurate RESTful APIs then it is highly recommended to include swagger in your overall development plan for sure.

  12. Scalable output caching: This ASP.NET framework feature helps to enrich the and simplify the user experience. How? Well, it remembers the necessary information (usually asked when filling an online form on the banking website), stores it safely in the cache memory to fasten up the similar future requests. It also ensures the randomly updated information and eliminates it from a specific segment usually from a cache location. The ASP.NET framework has a smart database which instructs for how long a request should remain in the cache memory and when it should be removed from the system. It usually caches all such information through HTTP headers. Apart from this, it also helps to eliminate the unwanted caching output stored within the web server memory.

  13. Localization and globalization: If you find it difficult to localize the data, text or numbers stored within the web application, then ASP.NET can sound helpful in many ways. To let your developed web application be used throughout the globe, localization is a mandatory feature to include in the framework. How? ASP.NET allows web app customization in different languages through similar resource files and backend. Also acknowledged as the central repository, these resource files are major segments where all the text files are stored. Web pages can read these resource files which further promotes different labels. 


Generally, in order to enable localization and globalization, two different sorts of resource files are being used which includes-

1. Global resources: These files are common for the entire website development code and can be accessed through all the pages present on the website.

2. Local resources: In this case, there is a specific resource file which unlocks a particular set of features and needs to be accessed differently for each landing page.


All these measures have been analyzed and written according to the banking web app, website or mobile application.


So, now what’s your call, dot net framework or any other programming language? What would you prefer to get your finance website developed? Hope you make a wise choice!


The bottom line:


This full-fledged write up brings out the technical overview of using dot net technology to develop a banking/financial website. Else than this, it speaks about the importance of working on dot net frameworks, what are the different types of ASP.NET frameworks along with their specifications or leverages of using them. It starts with elaborating the basics of dot net technology and ends at making it clear why most of the developers prefer and recommend to use dot net frameworks to develop a banking website.

For more information:

Rahul Nanuhal

Vice President Sales

rahul@veridic.co.uk  

+44 20 3575 1466


About Veridic


Veridic Technologies is an end-to-end IT solutions company focused on Product Engineering Services, Enterprise Mobility, and Custom Application Development.

Started in 2010 by Mr. Ankur Thakur as an outsourcing firm for Brightstar Corporation (a USD 10 Billion company), now Veridic has risen to become an internationally known brand. We have a dedicated team of 150+ employees operating from 2 offices, India & UK.

Veridic is dedicated to revolutionizing growth of used mobile businesses across the globe. Our clients include Retailers, Wholesalers, Distributors, Telecom Operators, Trade-in Providers, Warehouse Providers & Mobile Phone Recyclers.

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