Mythbusting: Is learning new frameworks always beneficial for the development team?

Mythbusting: Is learning new frameworks always beneficial for the development team?

Mythbusting, Technologies

Curated by: Shaggy

Half of the positive outcomes in software development come from choosing the right approach to it. Keeping your processes updated is critical to ensure that a project goes smoothly, as software development is a complex process that requires careful planning and execution. To that end, there are a variety of different approaches, each with its advantages and disadvantages, that are ultimately chosen by the specific needs and goals of the project. So, with that in mind, let’s talk about frameworks.

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In software development, a framework is a set of tools and libraries providing a common structure for building applications. A web application framework, for example, may include libraries for handling requests and responses, session management, and template rendering, as well as functionalities for routing, authentication, and other common tasks. By providing a structure, frameworks can make development easier by reducing the amount of boilerplate code needed, in addition to providing a consistent approach to solving common problems.

That’s why software developers and project managers are always on the lookout for new tools and frameworks that can make things more efficient, ensuring they remain updated and knowledgeable in the latest trends. However, there is often a trade-off between using the latest and greatest technology and having to learn how to use it effectively; anything new added to an established workflow will include a learning curve, and in some cases, the latest technology can slow down a team rather than help them achieve an outcome more efficiently. 

“Developers may need to spend time learning the new tool properly before they can start using it effectively, especially if the new tool is different enough from what the team is used to, causing more problems than it solves”, says Adolfo Cruz, Partner and PMO at Scio. “Ultimately, whether or not developers benefit from using the latest frameworks in software development depends on the particular case. It’s important to weigh the pros and cons of each new tool before making a decision.”

Is it a good idea to constantly adopt new frameworks?

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There’s no one-size-fits-all answer to this question, but we can see on paper why this might make sense; by using the latest frameworks, a team can take advantage of the most up-to-date features and capabilities, and they are generally more efficient than older ones, which can save your team time and resources in the long run. Moreover, choosing a new framework shows that your team is committed to keeping up with the latest trends and technologies.

“In my opinion, [frequent change of frameworks] can be a negative thing, because sometimes the latest version still has some kinks to work out”, says Carlos Estrada, Lead Application Developer at Scio. “Using a technology that has already been tested by the community or by your team can save you a lot of bugs and headaches. Is not wrong to try the latest framework at every opportunity if you are part of a start-up that’s barely getting off the ground, but for a more established company with clients and expectations, I wouldn’t recommend it.”

With that in mind, adopting a new framework is not something to be taken lightly, and the best timing for this will vary depending on the specific project and the team involved, as well as the resources you can commit to it. To that end, there are a few general factors to keep in mind when deciding whether or not to implement a new framework into your development cycle: 

  • First, consider whether the new framework offers significant advantages over the current one. If it’s simply a personal preference, it may not be worth the time and effort required to switch frameworks. However, if the new framework offers significant improvements in terms of performance or efficiency, it may be worth considering. 
  • Then think about whether the team is ready and willing to learn a new framework. If team members are resistant to change, it may not be worth force-feeding them a new framework, lest it critically disrupts the development of a product. However, if they’re open to learning something new, adopting a new framework can be an excellent way to keep them engaged and excited about the project. 

So logically, there are downsides to this approach if an organization is constantly selecting new frameworks, negating any advantages that the framework might offer in the long run, especially in a field like software development where innovation and disruption are always moving forward.

“Many developers spend lots of time constantly learning the next new framework. There are many existing frameworks, and they move in and out of vogue rapidly. As mobility matures, developers will benefit more from consistent approaches to mobile development as they move across SDKs and frameworks. A consistent approach to security, integration, development, and management enables quality and speed”, are the words of this article on some common myths about software development; although it’s focused on mobile application design, it’s also a bit of good advice for any kind of software work.

So, while it may be tempting to keep trying frameworks to entice new projects, there are some definite advantages to sticking to one specific framework. For starters, using the same framework will help to streamline the development process, since you and your team will already be familiar with the tools and syntax, as well as making it easier to share code between projects, which can be a huge time-saver. And at the very end, using the same framework across multiple projects will give you a better understanding of its strengths and weaknesses, which can help you to develop more efficient and effective code.

But how do you  choose the “best” one?

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Ultimately, there are several compelling reasons to be consistent with your frameworks during every project, and by doing so, you can enjoy a smoother development process and better code quality. However, different projects and challenges might need different approaches, so selecting a framework that makes sense for your organization requires consideration and care. As starting points, you might want to consider the…

  1. Support: Most frameworks are open-source and community-driven. One with a big pool of developers and engineers contributing to it and a direct line of communication in case of any issues will always be preferable. After all, a framework is as good as the people surrounding it, so if their last update was in 2018, no matter how good a framework might be, sooner or later it can leave you behind the curve.
  2. Security: The more security functions you can add through a software framework, the better, so choosing one that allows you this flexibility already makes it hard to top.
  3. Sustainability: The chosen framework keeps up with the Software Development Lifecycle? If not, then you are not working with a tool with a sustainable future, so selecting something scalable and with enough flexibility might be the best course of action.
  4. Documentation: Linked to the ‘Support’ point above, thorough and well-written documentation of the framework is invaluable to learn it quickly, a critical requirement if you are looking for a new framework that makes upgrades easy to implement.
  5. Outcomes: What does it offer to a client and a final user? Does it allow making progress on a project faster (for a client) while making it easy for feedback to be implemented satisfactorily (for an end user)? How a framework works beyond the development cycle is always an important consideration to make.

Ultimately, however, there’s no perfect answer to this question, and it will vary depending on the specific circumstances of each development cycle. And while there are benefits to using different frameworks for different projects, there is also value in being consistent with one particular framework, like reducing training costs and onboarding for new developers, making it easier to share code between different applications. Most importantly, it can promote greater consistency in the quality of the final products, so if you keep these general considerations in mind, you should be able to decide what’s best for your project and team at every turn.

The Key Takeaways

  • Selecting the correct approach to development can make the difference between a good outcome and a bad one.
  • Frameworks are a great example of this: selecting the correct one for a project can make things easier for everyone involved in development.
  • New frameworks are coming up all the time, so weighting their advantages and disadvantages is critical for any business looking to adopt them.
  • There are lots of reasons why having a consistent set of frameworks might work better in the long run than using whatever new one comes up, in terms of time, investment and money.

Scio is an established Nearshore software development company based in Mexico that specializes in providing high-quality, cost-effective technologies for pioneering tech companies. We have been building and mentoring teams of engineers since 2003 and our experience gives us access not only to the knowledge but also the expertise needed when tackling any project. Get started today by contacting us about your project needs – We have teams available to help you achieve your business goals. Get in contact today!

The boom of ClimateTech: Attracting talent to solve the challenges of the future

The boom of ClimateTech: Attracting talent to solve the challenges of the future

Technologies

Curated by: Sergio A. Martínez

Working on technology development has always been an attractive proposition. After all, this field is about solving problems and overcoming challenges with technology, holding the promise of a better future. And right now, there’s no bigger challenge to overcome than climate change and the deep effects it would have on our way of life. With record-breaking temperatures and extreme weather events becoming more and more common, most scientists agree that this trend will continue if we don’t take effective measures, and one way to do this is through technology. The field of ClimateTech, thus, has been born.

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There has been a growing interest in ClimateTech among software developers in recent years since it offers a unique opportunity to create solutions with a more profound impact on our lives. Additionally, ClimateTech is an emerging industry with plenty of room for growth, which is an attractive option for software developers who are looking for an exciting and challenging career change with a tangible end goal.

“Big Tech is no longer the young upstart, and there’s a new kid in town luring away smart people looking for purpose and willing to take a chance on something new: climate tech”, says the article ‘What is ClimateTech?’. “And it’s not just the rank and file. Even the big guys are ditching Big Tech for climate tech. Chris Sacca and Bill Gates have both started climate-geared investment initiatives. Mike Schroepfer recently made headlines for stepping down from his CTO role at Meta to pour his energies into the climate crisis. […] Climate tech happens to be the most exciting space in tech right now.”

Simply put, one of the most appealing aspects of ClimateTech is the chance to make a difference, with developers working in this field often creating products that, for example, could help to reduce greenhouse gas emissions, extract carbon from the environment, or improve energy efficiency. As the world continues to grapple with the effects of climate change, these solutions will be more and more valuable, so working in ClimateTech is allowing developers to be at the forefront of a rapidly growing industry, where there’s always something new to learn, and a new problem to tackle.

An exodus to greener pastures

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As a type of technology designed to help combat climate change, ClimateTech can include anything, from developing more efficient methods of energy production to finding ways to take care of honeybee populations, each having its unique challenges, limitations, and difficulties. And while ClimateTech is still in its early stages, there is potential for it to have a major impact on the environment; for example, if we can find more efficient ways of storing solar energy, we can reduce our reliance on fossil fuels. And right now, the allure of working on these technologies has started to outpace many of the “traditional” offerings of Silicon Valley.

Protocol Magazine, for example, tells the case of Cassandra Xia, a software engineer at Google who recently left the company to put her talents to use in the ClimateTech revolution: “When Xia told Google that she wanted to leave to work on climate solutions, it was suggested that she stay and work on internal climate projects. But she didn’t think it was likely those projects were going to get very big, because, at the end of the day, they’re not part of Google’s core business model.”

That last sentence is critical to understand why, from a business perspective, this exodus is taking place. How to make sure a big company like Google or Amazon will commit to a ClimateTech project, as opposed to a smaller company or start-up which has implemented a more environmentally motivated business model from the start. Additionally, the nature of ClimateTech means that smaller companies are the best equipped to develop them; start-ups are typically nimbler and can move more quickly to develop and deploy new technologies. Second, start-ups are often more open to taking risks, which is essential for developing groundbreaking technologies. Third, start-ups tend to be more focused on innovation, while large corporations may be more interested in maintaining the status quo. Finally, many start-ups are founded by people who are passionate about solving climate change, which gives them extra motivation to succeed. All of these factors give start-ups a better chance of success when it comes to developing climate technologies and make them more attractive for a software developer looking to make a difference.

“It feels cynical to say, but [Google’s sustainability program] felt more like it was about boosting employee retention and morale”, the aforementioned article quotes Xia about this issue. So, when it comes to choosing a tech company to work for, many workers today are looking beyond the big names. While working for a major corporation can certainly have its benefits, climate technology companies are increasingly seen as a more attractive option, often more mission-driven than their corporate counterparts, and motivated by more than pure profit.

The fight for a better future

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Technology will play a vital role in addressing climate change, providing us with tools to mitigate its impact. Satellite imagery can help us to track the progress of melting glaciers, for example, and data from weather stations can help us to understand how extreme weather events are becoming more common, among a myriad of other challenges where talent will be more than welcome.  

So, as we continue to develop new technologies, we will be better equipped to address the challenges of climate change, and this gives software developers a sense of purpose and makes them feel like they are truly making a difference, letting them participate in the cutting-edge of new technology looking for ways to reverse our environmental impact. As a result, tech workers who want to stay ahead of the curve often find that climate tech companies are the ideal place to work.

“Many companies are quick to invest in the latest technology, but when it comes to climate tech, they often hesitate. They may see it as a cost with no immediate return, or they may be unsure of its benefits. However, what they fail to realize is that investing in climate tech can have a profound impact on our future and overall attract better talent in the long run”, says Luis Aburto, CEO and Co-Founder of Scio. “Climate change is one of the most pressing issues of our time, and companies that are seen as taking steps to address it will be better positioned to attract software developers looking to use their talent in the best way possible, which will benefit both the environment and the bottom line. As more companies begin to realize the importance of ClimateTech, those who have already invested in it will be well ahead of the competition.”

While it’s hard to predict which industries will be the most successful in the years to come, one thing’s for sure – ClimateTech companies will attract some of the best software development talent moving forward. With a focus on sustainability and making an impact on the world, these companies are poised for success.

The Key Takeaways

  • Technology is meant to solve problems in our daily lives, and there’s no bigger challenge coming ahead than climate change.
  • This has led to the creation of ClimateTech companies, looking to develop solutions for the myriad of problems that climate change will bring.
  • As a consequence, lots of tech workers and software developers are getting into climate change, as this area of technology is growing, offers tangible solutions, and makes them feel like they are contributing to the future.
  • This means that any company looking for top talent has to compete with ClimateTech, so having projects and programs that could help this issue may be the most attractive for talent today.
  • However, this commitment has to be long-term, otherwise, it would be difficult to retain developers looking to make a difference in our current reality.

Scio is an established Nearshore software development company based in Mexico that specializes in providing high-quality, cost-effective technologies for pioneering tech companies. We have been building and mentoring teams of engineers since 2003 and our experience gives us access not only to the knowledge but also the expertise needed when tackling any project. Get started today by contacting us about your project needs – We have teams available to help you achieve your business goals. Get in contact today!

Is the future of FinTech in the hands of Artificial Intelligence?

Is the future of FinTech in the hands of Artificial Intelligence?

AI, Technologies

Curated by: Sergio A. Martínez

When most people think of Artificial Intelligence, they probably conjure the Hollywood depictions of evil robots that become sentient or self-aware, and then go out of control. However, even if this is the general pop culture stereotype of AI, the real-life technology is very different, already getting implemented in several key industries to streamline processes and improve efficiency. The Financial Technology sector is no different; AI is starting to have a major impact, from chatbots and digital assistants to complex algorithmic trading, reshaping the way we conceive and manage our finances.

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And it’s not just big banks and financial institutions that are benefiting from the power of AI — FinTech startups use it to create innovative products and services that change the way we bank, invest and save, bringing more personalized experiences to customers by analyzing their spending patterns and providing tailored recommendations. 

So, while AI continues to evolve, its increasingly significant footprint on the FinTech industry is making financial services more efficient and accessible, playing a crucial role by helping to automate various tasks, from customer service to fraud detection. For example, AI-powered chatbots can provide personalized financial advice, and Machine Learning is being used to develop predictive analytics tools that can help identify investment opportunities, or red flags to watch out for.

As a result, AI will only become more embedded in FinTech, transforming the financial sector by automating processes and providing real-time insights, and helping cut costs. Perhaps most importantly, AI will give organizations the ability to make sense of the vast troves of data they collect daily, using Machine Learning algorithms to identify patterns and trends that would be impossible for humans to spot. As a result, this technology is poised to profoundly impact the financial sector in the years to come.

However, the popularity of AI solutions in FinTech has also raised questions within the industry; after all, with machines driving more financial systems, is their traditional risk management ready to keep pace with an increasingly automatized approach that brings innovations and disruption almost daily? For any business, it’s important to stay ahead of the curve and make sure you are using AI to benefit your customers and your bottom line, and risk assessment needs to be considered to succeed at it. But what will it look like?

Risk assessment in FinTech: A job for robots?

As FinTech companies become increasingly reliant on AI, the need for robust risk management processes is more important than ever. By its very nature, FinTech is a highly innovative sector, which means new risks are constantly emerging. And while AI and Machine Learning can help to identify these risks promptly, as well as monitor any exposure to them by automating data analysis and providing accurate results, gaps still exist.

“One of the main concerns is that AI systems can be biased against certain groups of people, due to the data that they are trained on. If an AI system is only exposed to data skewed in favor of one group of people, it will produce biased results”, says Rod Aburto, Service Delivery Manager and Co-Founder of Scio. “And beyond that, AI systems can be hacked or tampered with, which could lead to disastrous consequences. These tools are still far from perfect, and there is always the possibility that they’ll make mistakes with serious implications, but despite these potential risks, AI remains promising.”

Combining Machine Learning and AI can help financial institutions to make more informed decisions, like assessing the impact of new regulations on a business model or identifying risks associated with their products and services, but the availability of data is an important matter: the final assessment is only as good as the information entered into the system. This means FinTech companies need to be especially vigilant in their risk assessments due to the rapidly changing nature of the information. For example, if a training dataset is predominantly male, a Machine Learning algorithm may learn to associate certain traits with being male, leading to biased results when applied to a broader population. 

In the specific case of FinTech, a way that bias can be introduced is through algorithms that have been designed to achieve a particular outcome, rather than being impartial. An algorithm designed to identify creditworthy individuals is likely to be biased against low-income applicants, leaving people in need of these kinds of services out. 

Another challenge for FinTech companies reliant on AI to provide their services is that they are vulnerable to attacks by hackers who could exploit weaknesses in these systems. Hackers could gain access to sensitive customer data or even manipulate the algorithms used by FinTech companies, leading to disastrous outcomes. So when it comes to FinTech, security should be a top concern, and data breaches and security vulnerabilities can have a devastating impact on both consumers and businesses when machines cannot make critical decisions on their own. That’s why it’s so important for fintech firms to have robust security measures and know the risk involved in pure automatization.

A balanced future in FinTech

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“FinTech is an industry constantly evolving, and there are many good practices around risk assessment, but at its core, risk assessment in FinTech should focus on three key areas: regulatory compliance, customer impact, and business resilience”, continues Rod Aburto about the challenges in pure automatization. “And when it comes to implementing AI tech in this area, responsibility, due diligence, and human intervention are key to ensure they work as intended. These machines are more than capable of digesting data and coming up with insights than almost any person but are not infallible. Without human expertise guiding and implementing actual useful results, it’s easy to render any outcome from AI less than ideal.”

AI is revolutionizing the fintech industry at every level, from software development to customer service. According to the International Data Corporation (IDC), “the worldwide market for AI software, hardware, and services is expected to surpass $500 billion by 2024”. As more FinTech companies are using AI to create new and innovative products and services that make financial services more efficient and accessible, it’s important to keep in mind that an ethical, responsible, and effective implementation of AI is one where humans are kept in the loop and can be made accountable for any mistake. AI will only become more embedded in FinTech as the industry evolves, and for businesses, it’s important to stay ahead of the curve and make sure you are using AI to benefit your customers and your bottom line.

So, by conducting responsible and human-curated risk assessments, FinTech companies can stay ahead of the curve and make sure that their products and services are as safe and secure as possible.

The Key Takeaways

  • The FinTech sector is one of the most innovative, and technologies like AI and Machine Learning are finding implementations in almost every area.
  • AI brings a speed of automation of processes, insights, and results without precedent, and while exciting, challenges arise alongside these tools.
  • Traditional risk assessment needs to keep pace with the technological revolution and has to keep a watch out for weaknesses and biases in these systems.
  • Human intervention and interaction will still be necessary for the foreseeable future, guiding these systems and achieving their best outcomes.

Scio is an established Nearshore software development company based in Mexico that specializes in providing high-quality, cost-effective technologies for pioneering tech companies. We have been building and mentoring teams of engineers since 2003 and our experience gives us access not only to the knowledge but also the expertise needed when tackling any project. Get started today by contacting us about your project needs – We have teams available to help you achieve your business goals. Get in contact today!

Good Test Case design in QA: Quality at every step of the process

Good Test Case design in QA: Quality at every step of the process

Outsourced Engineering Team, Product Development, Scio, Software Development, Technologies

Curated by: Sergio A. Martínez

Creating software can be compared to solving a big, complex puzzle. A developer needs to take a bunch of pieces (code, algorithms, requirements, deadlines, etc.) and put them together in the right way to create a functioning product that satisfies everyone involved, from clients to final users. And just like with a puzzle, there is no single «right» way to develop software; it depends on the individual developer’s preferences and style, where some may start by laying out all of the pieces and looking for patterns, while others may start assembling pieces and then adjust as they go along. 

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And the biggest challenge is that if even one piece is out of place, it can throw the entire system off balance. This is why, besides having a good team of developers able to see the big picture and break it down into manageable tasks, a good QA Tester is so critical to obtaining the best possible outcome during development. Only then can you hope to create a successful piece of programming.

That’s why having a good approach to QA is so important; having experienced testers whose toolset matches the requirements of the product, capable of coming up with a plan for how they will test the code as they write it, as well as having a deep understanding of what “quality” means for the project, is a must in any team. 

So, in that sense, we want to take a look into one of the most important processes of QA: test cases. Because beyond running automated tests and manual testing, QA involves a systematic approach where developers can avoid costly mistakes and create products that meet customer expectations. And in practice, how can you design the perfect test case? What considerations should you have, and what’s the best approach to document and keep track of the sometimes messy process of QA?

Test cases are simple: Just think of everything

When it comes to software development, well-designed test cases are essential. By carefully planning out each test case, developers can ensure that their code will be thoroughly tested for errors, and taking the time to design comprehensive test cases can save a lot of time and effort in the long run. But how should you approach this task in practice? Is there a trick to designing a good Test Case?

“It depends on the project”, says Angie Lobato, a Quality Assurance Analyst at Scio with a wide range of expertise in everything QA. “The ISTQB already mentions that 100% thorough testing is not something that is possible, so it comes down to the priorities of the team, the requirements, the severity of the bugs, and the timelines set to deliver the product, as well as how much time the person in charge of QA has.”

This is why knowing how to design a test case is so important; considering all the challenges that software development already faces, being able to write an efficient, timely, and thorough test case is a valuable skill, keeping in mind things like… 

  • Thinking about the expected behavior of the system under test. What should it do in various scenarios?
  • Choosing input values that will exercise all relevant parts of the system.
  • Designing tests that will detect errors, but also verify that the system behaves as expected.
  • Keeping track of all tests performed, including pass/fail status and any observations made.

However, saying this is easier said than done; it can be difficult to create comprehensive test cases that cover all possible scenarios, and as software becomes more complex, replicating customer environments to test for all potential issues requires some intuition and minute attention to detail. That’s why the design of your test cases has to start with a script as the basis of the test, documented and shared to see exactly what you are trying to accomplish. For this process, Angie tells us that…

“I first need to validate that the Test Case (TC) related to the specific item I’m checking doesn’t exist yet, and do whatever is necessary, like adding, taking out or updating steps to not end up with a suite of repeated test cases”, she explains. “To design the script, it’s always good to create them in their respective suite, with a link to the requirement so everybody in the team can easily find them (I’ve personally used TFS, Azure DevOps, and Jira) depending on the tools utilized during the project. For the script itself, I define the objective of the Test Case, as well as the preconditions and postconditions it needs. Once that has been taken care of, I start to retrace the steps necessary to reach the item I need to test. I add each needed step to achieve the objectives of the test case with their expected result, and finally, I validate the final results where the change needed to be reflected.”

As you can see, there’s a lot of documentation involved in designing a test case, and having the proper formats to keep everything in order (like this one) helps to make sure that each test is accomplishing what it needs to. And according to Angie, a good test case needs a couple of characteristics to make it good:

  • A good test case has a clear objective stated and is updated to the latest version of the project. 
  • Has all the necessary testing data to execute it without creating repeated information. 
  • Has defined all the preconditions and postconditions of the product. 
  • And most importantly, don’t try to test more than one thing in a single case.
  • However, if you need to, changing the parameters of the test is necessary to make that clear. 
  • An ideal test case shouldn’t have more than 10 steps in total.

Ensuring quality at a distance

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As anyone who has ever been involved in software development knows, QA is a critical part of the process, and a good test case can help to ensure that the final product meets the requirements of the customer and is free of issues, especially in the current development landscape where remote collaboration is becoming a given. 

For a Nearshore development team like the ones at Scio, a well-crafted, carefully designed test case is invaluable, helping to ensure that the team and the client is on the same page concerning the expected results of the testing process, and providing a clear and concise way to communicate those expectations to everyone involved. 

In other words, a good test case can help to streamline the testing process and make it more efficient, so taking the time to create a good test case is well worth the effort for any remote software development team. 

“Any company that outsources software development knows that collaboration is key to success. A good QA team is essential to ensuring that the final product meets the standards”, says Adolfo Cruz, PMO Director, and Partner at Scio. “In a Nearshore setting, they are especially beneficial because they ensure that any problems are found and fixed quickly before they have a chance to cause major problems. As a result, well-designed test cases play a vital role in ensuring the success of a remote relationship.”

The Key Takeaways

  • Quality is necessary at every step of the process of developing software, not only a concern in the final product.
  • A good example is test cases, how important they are to the process of QA, and what good practices get involved in designing one.
  • A well-designed test case is straight to the point, meticulous, and tries to think of all the context around the product in order to ensure the best quality possible.
  • Also, the process of designing a good test case is doubly important when working on a project remotely, helping keep everyone on the same page and track all the changes and corrections necessary to bring the best possible outcome. 

Scio is a Nearshore software development company based in Mexico where we believe that everyone deserves everyone should have the opportunity to work in an environment where they feel like a part of something. A place to excel and unlock their full potential which is the best approach to creating a better world. We have been collaborating with US-based clients since 2003, solving challenging programming puzzles, and in the process showcasing the skills of Latin American Engineers. Want to be part of Scio? Get in contact today!

Is the FinTech sector responsible for the financial education of its users?

Is the FinTech sector responsible for the financial education of its users?

Entrepreneurship, FinTech, Technologies

Curated by: Sergio A. Martínez

FinTech has emerged as one of the most important aspects of the modern world, playing a crucial role in providing access to financial services and products to everyone and changing how we manage our finances. And there’s no doubt that FinTech apps and platforms have taken the financial world by storm, but as with anything, there are downsides to this popularity that are worth considering.

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What exactly is the FinTech sector’s role in modern financial literacy and education? Does this industry bear any responsibility on this matter, or their participation amounts to just covering a marketing demand?

“As our daily lives become increasingly digitized, more and more people are turning to FinTech solutions for their financial needs”, says Rod Aburto, Co-Founder and Service Delivery Manager at Scio. “From mobile apps that offer budgeting tips to online lenders that help individuals finance their businesses, FinTech companies revolutionized the way we think about personal finance. But as FinTech continues to grow in popularity, some are wondering whether they have a responsibility to provide financial education to their users.”

On one hand, many argue that FinTech companies are simply providing tools and services that users can choose to utilize as they see fit. And just like users of traditional financial products can make bad decisions that lead to debt or financial instability, so can users of FinTech products. As such, these companies should not be held responsible for the financial education of their users. On the other hand, some argue that FinTech companies are responsible for providing financial education to their users. After all, these companies often market themselves as alternatives to traditional financial institutions, which typically offer their customers some form of financial education. Furthermore, many FinTech applications are designed for people who may not be familiar with personal finance concepts, making it even more important for these companies to provide clear and concise information about their products, so what happens when people use them without really understanding how they work? 

Poor financial literacy can lead to serious mistakes, like overspending or making poor investment choices, creating a lot of financial anxiety or even worse outcomes. So, while FinTech apps can be helpful, the users must adopt this technology responsibly, understanding both the risks and rewards before getting started.

Financial literacy in the FinTech era

“Financial education has become an important complement to market conduct and prudential regulation and many countries have made improving individual financial behaviors a long-term policy priority”, says Simon Pearson of the Investment and Finance site HedgeThink. “In a world dominated by continuum technological advances, the efforts towards financial education shouldn’t be limited to economic affairs but rather focus on mastering the technology that will drive the financial mechanisms of the future.”

So as FinTech companies increasingly play a role in our financial lives, it also has a responsibility to help educate people about personal finance, budgeting, and investment strategies, as well as the nature of the financial services they offer. We can break it down into the following categories:

1) Marketing. FinTech companies need to be careful about the way they market their products. In a rapidly developing industry like FinTech, it can be difficult to keep up with the latest marketing trends, but there are a few key principles that all responsible FinTech marketers should keep in mind. First and foremost, always be transparent about your product or service. With so many options available, potential customers need to know exactly what they’re getting before they commit. Secondly, don’t make promises that you can’t deliver on. And finally, always put the customer first, remembering that you’re not just selling a product, you’re solving a problem.

2) Security.  When it comes to FinTech, data security is essential. FinTech firms deal with sensitive customer data daily, so it’s crucial to secure it, making it accessible only to authorized personnel. But beyond that, it’s necessary to make it clear to the user what information is getting stored, explain why, and have clear means of communication and support if any serious problem arises. “FinTech firms and their customers are often targets of all kinds of attacks and frauds, so it’s important to have robust security systems in place to protect against these threats and inform the public of the potential risks involved”, advises Rod Aburto on the matter.

3) Communication. FinTech companies provide a valuable service to their customers by giving them access to financial products and services that they might not otherwise have. However, FinTech companies need to communicate with their customers regularly to ensure that they are providing the best possible service. Customers need to be able to reach out if they have any questions or concerns, and they also need to be kept up to date on changes that could affect their accounts. Good customer communication can help to build trust and loyalty, and it can also help to resolve issues before they become major problems.

The limits of FinTech education

Is-the-future-of-FinTech-in-the-hands-of-Artificial-Intelligence-2

However, beyond these good practices, it’s good to keep in mind that, while FinTech has made it easier than ever to access financial education, there are still some limits to what it can provide. For one thing, FinTech products can be a great resource for learning about financial products and services, but it can’t provide professional financial advice when it comes to making major decisions. These kinds of applications can provide people with the tools and knowledge they need to make informed choices regarding their money, but it is always best to speak to a qualified financial advisor that could provide a good outside perspective.  

Additionally, FinTech can be a great way to learn about personal finance basics, but it’s not always the best resource for more complex topics. Many people view financial education as a dry and boring topic, and with the rise of more and more FinTech platforms and applications, there are now more ways than ever to learn about money management, but a lot of the responsibility of making an informed decision and assuming the ensuing risk still rests on the shoulders of the customer, so seeking information with a trustworthy source is still the way to go. 

Despite these limitations, FinTech is still a valuable resource for anyone looking to improve their financial literacy. This is still a relatively new industry, and it’s constantly evolving, which means that there are bound to be some growing pains as the industry matures. So, while FinTech can be a great resource for managing your finances, as a user it’s important to be aware of the risks and limitations of these applications; they are often created to offer a solution to a particular problem, but they are seldom meant to be the be-all-end-all of every financial necessity. 

And as a company, having an adequate ethical framework to approach the creation of a new FinTech platform, informing users and customers clearly of what they should expect, what they can’t do, and the basics they need to understand to make the best use of the product is a must. With these considerations, FinTech companies can help make sure that their products are safe and helpful for everyone.

The Key Takeaways

  • FinTech applications and software are becoming more and more relevant to our daily life, making it easier than ever to get started on a new financial road.
  • However, this abundance of options and innovations also brings new questions to solve: is financial education becoming a responsibility of FinTech?
  • Even if that’s still an open question, there’s no doubt that most FinTech companies can adopt practices (in Marketing, Security, and Communication) to ensure their products are not misunderstood or used incorrectly.
  • And finally, a deeper understanding of finance still falls on the shoulders of users, who should seek knowledgeable and trustworthy people to make sure they use any application or platform to its fullest.

Scio is an established Nearshore software development company based in Mexico that specializes in providing high-quality, cost-effective technologies for pioneering tech companies. We have been building and mentoring teams of engineers since 2003 and our experience gives us access not only to the knowledge but also the expertise needed when tackling any project. Get started today by contacting us about your project needs – We have teams available to help you achieve your business goals.

The Rubber Duck Method: What is the explanation behind this debugging approach?

The Rubber Duck Method: What is the explanation behind this debugging approach?

Project Management, Technologies

Curated by: Sergio A. Martínez

Debugging software is an important, if often tedious, the task for any programmer. Finding and removing errors generating crashes, freezes, or incorrect results is critical to ensuring the quality of a piece of software, and while some bugs can be fixed with a few simple tests, more difficult ones require special approaches and techniques. And thankfully, there are many resources available to help programmers debug their software; after all, with patience and perseverance, even the most difficult bugs can be squashed.

The Rubber Duck Method: What is the explanation behind this debugging approach?

One such technique is the popular Rubber Duck method, which may already be familiar to a seasoned developer. In short, the Rubber Duck method is a debugging approach in which developers explain their code line by line to an inanimate object, such as a rubber duck. This may sound silly, but it’s an incredibly effective way to find and fix mistakes. 

“Computers process information differently than humans do. Anyone who’s first learning to program understands this well. What’s hard about programming for a beginner isn’t really big hard esoteric concepts, but that you’ve got to be so painfully exacting in how you describe everything to a (dumb) computer. That’s why we do rubber duck debugging.”

However, have you ever been curious about why this approach works? What exactly happens in our brains when we verbalize a problem to someone else (even if that someone just happens to be a bath toy), that could lead to a solution that was obvious all along? And what is the best way to implement this method to finally find and solve that bug that has been bothering you all week?

The challenge of language

Computers are dumb. And we don’t mean that in a Luddite, anti-tech sort of way, we mean it in the original definition of “dumb”: incapable of human speech. And speech here is more than just talking; speech includes context, mood, choice of words, familiarity, and an infinity of other variables that a computer can’t understand (yet).

Of course, this doesn’t mean that we cannot communicate with computers, it just means that we use specialized languages to do so, and every single one of them works with the principle that computers are dumb: unless you tell a machine exactly what they need it to do, or how to react when something happens, they will not produce a desirable outcome. Thoughtful Code put it best:

“‘Is it cold outside?’ is a question that most humans, having some idea of the weather, will answer pretty easily. They’ll say something like, “No, it’s pretty nice.” Asked that question, a computer — or a really finicky and hyper-rational person — will need you to define each of those words.”  

A computer understands the most literal and absolute terms and learning to manipulate those terms is the basic principle of programming. This also means that computers don’t make mistakes, people do. So, if something within the instructions given to the machine doesn’t add up, then the program will not work as intended, and finding the exact place where the communication between a person and a computer got out of alignment can be a challenge. Here’s where the rubber duck comes in handy, thanks to the way we process language.

Here’s a fun fact: did you know that reading, writing, and speaking are located in completely different parts of our brain? Our understanding of the way we use and apply language is always evolving, but it is understood that we use different functions depending on the type of language we employ, which is why it’s so useful to verbalize a problem to find a solution: you involve a completely different part of your mind to help.

Of course, the Rubber Duck method is not useful only in software development, but since computers are very linguistically complex tools (being probably the only ones we need to “speak to” to use), verbalization is useful here, forcing developers to slow down and think about the minute details of their code, which can help to spot mistakes that they would otherwise overlook. As the blog “The Psychology Behind Rubber Duck Debugging” puts it:

“A lot of times, I’ve experienced some programmers that will ask my help about a specific bug they are fixing. I will then ask them how their application and their code works. I literally have no idea how to fix a program that is not mine and have no idea about the flow. However, I let them explain the flow of the process and the connection between functions and files. Oftentimes, they think of a solution before I even understand what is happening. Many people have been so thankful for me — for doing literally, nothing.”

Programmers understanding themselves

The Rubber Duck Method: What is the explanation behind this debugging approach?

You can see the same principle at work in the classroom. Teachers probing students with questions are intended to make sure a lesson has been learned, forcing the students to consider and explain it by themselves. The only difference is that a programmer using the Rubber Duck method is taking both roles (teacher and student) at once. 

In other words, this method allows developers to share their thoughts with a neutral party, questioning and probing themselves regarding their code, which can help identify areas of confusion or misunderstanding. And most importantly, it encourages developers to develop a clear and concise explanation of their code, which can be useful for future reference. 

“The real magic doesn’t happen on the rubber duck itself (sorry, Duck Norris). However, it happens in our minds. It uses the same psychological principle wherein we are encouraged to explain to ourselves why we did such actions and have a self-realization about what we’ve done. It is usually used by most psychologists to fully understand a person and, at the same time, for the person to understand himself/herself fully.”

And understanding yourself is fundamental to being a good programmer. Just like writing any other thing (a novel, or a sheet of music), everyone has their own style, approach, and technique when coding an application, which makes the ability to explain what you wrote so important; if you aren’t able to understand your process inside and out, then debugging will always be a challenge, especially when working as part of a team, where the code must always be in sync. In fact, the Rubber Duck method can be used as a form of collaboration, as another programmer can serve as your rubber duck and offer feedback or suggestions while you go through your code trying to find an answer.

“When working on a software development project, it’s important to have a good collaboration method in place, and the rubber duck method is one way to ensure that everyone on the team is on the same page”, says Jesús Magaña, Senior Project Manager at Scio. “It can help a developer to articulate his or her thought process, and as a result, team members can quickly identify any gaps in understanding and address them before they cause problems. Additionally, the rubber duck method can help to uncover errors in logic or coding syntax, and overall is an effective way to ensure that everyone on the team can contribute.”

In a Nearshore development environment, where collaboration has come a long way in recent years, the Rubber Duck method can also be useful to bring keep everyone on the same page by improving communication, helping maintain contributions clear, and easing the challenge of solving a tough bug even in remote settings (where a developer may not have anyone to immediately bounce ideas or solutions during debugging), which can help projects to come together more easily. After all, Nearshore software development has its challenges, but by using the proper approach (or bath toy), teams can overcome obstacles and build better software together.

The Key Takeaways

  • A bug in the code is basically a mistake in communication between a developer and a computer.
  • Following this, it’s no wonder that approaches to problem-solving like the Rubber Duck method can help to find the precise place where a code is not working.
  • Although you only need something to talk to (like a rubber duck), this process can involve many people in a team, offering advice and feedback.
  • However, in remote setups (like with a Nearshore development partner), having a way to find and fix bugs without the insight of anyone else can be a valuable resource.

Scio is a Nearshore software development company based in Mexico where we believe that everyone deserves everyone should have the opportunity to work in an environment where they feel like a part of something. A place to excel and unlock their full potential which is the best approach to create a better world. We have been collaborating with US-based clients since 2003, solving challenging programming puzzles, and in the process showcasing the skills of Latin American Engineers. Want to be part of Scio? Get in contact today!