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Just curious how FP is used within finance and banking

• ggm 6y ago
  (This is what I have been told. I don't work in fintech) The old inner-core of most finance companies is a small body of code for the ledger system, which has to meet finance regulator approval. A lot of banks have greybeards who coded this in COBOL, hanging on by a thread. The newer banks have to meet the same level of QA assurance on the code to get certified. Strongly typed languages with some assurances over data states can be beneficial for arguing about correctness and compliance. So re-implementing, or new banking, looks into it. Quant statements about investment make finance people ask "show me how you can be so certain about this" because the inferential chains to justify investment make them nervous. FP means a lower bar to saying "I believe this" when you try to make them believe it: its demonstrably tighter code. The obvious google search leads to: * https://www.risk.net/risk-management/6395366/functional-programming-reaches-for-stardom-in-finance https://www.risk.net/risk-management/6395366/functional-prog...
  • mr_o47 6y ago
    I see thanks for replying