Since the advent of smartphones, the banking and financial industries have undergone a dramatic period of the digital revolution. Using mobile technology as a foundation, they’ve created streamlined banking services and perks for their customers. The Omnichannel experience made possible by the latest mobile technologies relies on digital assurance services for mobile apps that provide uninterrupted access to data, satisfied customers, and safe business-to-business transactions. Improved usability and a smoother digital experience for the consumer are at the heart of digital assurance solutions, a practice that a premier banking technology partner like Maveric has been engaging in for two decades.
The need for QA embedded into Banking Frameworks
A Gartner report suggests that technology spending in the banking and securities business will likely increase three-fold in 2023. For the banking sector to keep up with customer expectations, all digital banking applications must remain reliable and operate without a hitch. Banks deal with many transactions and sensitive client data constantly, so a solid digital assurance strategy is necessary around the clock. It’s not uncommon for banking apps to work hand in hand with other software, be it a game, an online store, a way to get around town, a way to order meals, etc. After all, a reliable digital quality assurance system must be in place to guarantee a smooth transaction between the customer and the payment gateway.
Critical Considerations for QA in Banking Test Environments
Improved quality and efficiency through rigorous testing: Delivering services and products that effectively fulfill client demands and preferences requires implementing well-thought-out quality assurance (QA) programs. Reducing post-production flaws is facilitated by well-optimized quality assurance methods and carefully crafted test management programs. By automating tests and using well-established tools, the stability of critically essential systems is undertaken while cutting expenses dramatically.
Overcoming Testing Obstacles: Testing is crucial to ensure financial apps function without hiccups. However, it also presents several difficulties, such as a complex banking application environment that requires regular maintenance and upgrades to keep up with the ever-shifting demands of the market and regulators. QA teams must ensure that everything works across various platforms and browsers, from Internet Explorer on Windows 8 and Surface to Safari on an iPhone 7.
Cost-effectively executing regression testing over an application’s lifecycle: is one of the stiffest testing challenges. In addition to ensuring that system integration is tested, and that test data is used appropriately, QA teams must follow all applicable data confidentiality regulations. An efficient test suite, test environment, and solid test data management are essential for conquering these obstacles. Data integrity can only be protected by information masking, and data identification can be simplified with the help of modern test data management technologies.
Conclusion
Finally, the way to extract maximal value from QA in banking is to focus on Test automation. Test automation is an excellent tool for ensuring the timely delivery of high-quality financial apps and services. Automated functional tests may be run regularly and often, resulting in faster development times and a higher chance of catching errors before they can cause serious problems. Create a long-term testing framework and roadmap, and most crucially, consolidate the management of your testing service providers, tools, and resources, to get the most out of automation.
About Maveric Systems
Starting in 2000, Maveric Systems is a niche, domain-led Banking Tech specialist partnering with global banks to solve business challenges through emerging technology. 3000+ tech experts use proven frameworks to empower our customers to navigate a rapidly changing environment, enabling sharper definitions of their goals and measures to achieve them.
Across retail, corporate & wealth management, Maveric accelerates digital transformation through native banking domain expertise, a customer-intimacy-led delivery model, and a vibrant leadership supported by a culture of ownership.
With centers of excellence for Data, Digital, Core Banking, and Quality Engineering, Maveric teams work in 15 countries with regional delivery capabilities in Bangalore, Chennai, Dubai, London, Poland, Riyadh, and Singapore.
