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A Blueprint on Quality Engineering Services in 2024

A Blueprint on Quality Engineering Services in 2024

In 2024, 75% of banking executives identified quality engineering services as critical to their success in digital transformation. This statistic underscores these services’ pivotal role in ensuring that digital initiatives within banks not only meet but exceed the stringent demands for quality, reliability, and user satisfaction. This blueprint outlines the essential components and strategies for integrating quality engineering services effectively, ensuring that banks can confidently navigate the complexities of the digital age.

As we step into enter services, we stand at the forefront of ensuring that digital transformations within banks not only meet the stringent demands for quality, reliability, and user satisfaction. This blueprint outlines the critical components and strategies for integrating quality engineering services effectively, ensuring that banks can confidently navigate the complexities of the digital age. 

Combining quality with advanced analytics.

Integrating advanced analytics into quality engineering services marks a significant shift towards predictive quality assurance. By leveraging data analytics, banks can anticipate potential issues before they impact the customer experience, ensuring that digital banking platforms are efficient and resilient.

For instance, a leading financial institution recently implemented machine learning algorithms to analyze historical data on system failures. This proactive approach allowed them to identify patterns and predict potential breakdowns, significantly reducing downtime and enhancing customer satisfaction.

Embracing Automation in Quality Assurance

frameworks enable banks to accelerate their testing cycles, ensuring that digital products and services are brought to market faster and with higher quality standards.

Citibank’s adoption of automated testing for its mobile banking application is a prime example. This strategy not only shortened the testing cycle by 40% but also improved the accuracy of test results, demonstrating the efficiency gains achievable through automation.

Integrating Digital Assurance Services

Digital assurance services are critical in ensuring that digital transformations in banking are seamless and secure. These services encompass a wide range of testing and quality assurance practices designed to validate the predigital platform since the security and usability of digital

examples are JPMorgan Chase’s comprehensive digital assurance strategy, which encompasses everything from performance testing to security audits. This holistic approach ensures that their digital platforms deliver a superior user experience while maintaining the highest levels of security and compliance.

Fostering a Culture of Continuous Improvement

A culture of continuous improvement is at the heart of effective quality engineering services. This involves regular reviews of processes, tools, and methodologies to identify areas for enhancement. It also requires a commitment to ongoing learning and adaptation, ensuring that quality assurance teams remain at the cutting edge of technology and best practices.

Wells Fargo’s initiative to establish a dedicated quality engineering center of excellence exemplifies this commitment. By focusing on continuous training and development, the bank ensures that its quality engineering services always align with the latest industry standards and technologies.

Prioritizing Customer Experience

In the digital banking era, the customer experience is paramount. Quality engineering services must, therefore, extend beyond technical testing to encompass user experience (UX) testing, ensuring that digital platforms are intuitive, engaging, and accessible.

Bank of America’s focus on UX testing in developing its online banking services is a testament to the importance of customer-centric quality assurance. Through extensive user testing and feedback loops, the bank has been able to refine its digital offerings, resulting in increased customer engagement and satisfaction.

Leveraging AI and ML for Enhanced Quality Engineering

Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing quality engineering services, offering new ways to enhance testing efficiency and effectiveness. By applying AI and ML algorithms, banks can automate complex test scenarios, predict system behaviors under various conditions, and identify defects more accurately.

HSBC’s integration of AI into its quality engineering processes has enabled the bank to detect and address defects up to 50% faster than traditional methods. This improves the quality of its digital services and accelerates time-to-market for new features and updates.

Strategies for the Future

As banks continue to navigate the digital transformation journey, the role of quality engineering services will only grow in importance. To stay ahead, banks should consider the following strategies:

Invest in Talent and Training:

Building a skilled, quality engineering team is essential. Banks should invest in ongoing training and development to keep their teams up-to-date with the latest tools, technologies, and methodologies.

Adopt a Customer-First Approach:

Quality engineering should prioritize customer experience. This means testing for functionality, usability, and possibility.

Embrace Innovation:

Banks should be open to adopting innovative technologies and approaches in quality engineering, such as AI, ML, and blockchain, to enhance their testing capabilities.

Foster Collaboration:

Quality engineering should not operate in a silo. Encouraging collaboration between development, operations, and quality assurance teams can lead to more efficient and effective outcomes.

Prioritize Security:

As digital banking services become increasingly complex, the potential for security vulnerabilities grows. Quality engineering services must, therefore, include comprehensive security testing to protect customer data and maintain trust.

Conclusion

Quality engineering services are critical to the banking sector’s digital transformation strategy in 2024. By focusing on advanced analytics, automation, digital assurance, and a culture of continuous improvement, banks can ensure that their digital platforms are high-quality but also secure, resilient, and customer-centric. As we look to the future, the banks prioritizing these elements in their quality engineering strategies will be best positioned to lead in the digital age.

About Maveric Systems

Established in 2000, Maveric Systems is a niche, domain-led, BankTech specialist, transforming retail, corporate, and wealth management digital ecosystems. Our 2600+ specialists use proven solutions and frameworks to address formidable CXO challenges across regulatory compliance, customer experience, wealth management and CloudDevSecOps.

Our services and competencies across data, digital, core banking and quality engineering helps global and regional banking leaders as well as Fintechs solve next-gen business challenges through emerging technology. Our global presence spans across 3 continents with regional delivery capabilities in Amsterdam, Bengaluru, Chennai, Dallas, Dubai, London, New Jersey, Pune, Riyadh, Singapore and Warsaw. Our inherent banking domain expertise, a customer-intimacy-led delivery model, and differentiated talent with layered  competency – deep domain and tech leadership, supported by a culture of ownership, energy, and commitment to customer success, make us the technology partner of choice for our customers.

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Quality Engineering 101: Understanding the Basics and Benefits

Quality Engineering 101: Understanding the Basics and Benefits

Software quality engineering is going through a rebirth, with companies doing everything possible to find and fix bugs as soon as possible. This has led to a lot of new tools and methods, such as test automation, shift-left testing, DevOps, DevSecOps, Continuous Integration, Continuous Deployment (CI/CD), SDET, Test Driven Development (TDD), and Behaviour Driven Development (BDD), risk management, and artificial intelligence.

These things together make up a new way of thinking about quality engineering.

Industry Evolution for Quality Engineering.

Automation skills went from being a nice-to-have to a must-have in the past few years, and engineers now expect testers to be able to help them solve problems. As newer technologies emerge and the need to continuously improve how project teams work together, there has been a need for better testing methods and a tool kit that supports advanced testing. All of this needs a Quality Analyst with a unique way of thinking and a deep knowledge of technical infrastructure.

The Five Benefits of Quality Engineering

  1. Cost Savings: It costs money to fix bugs. Time spent on development is expensive, and time spent fixing bugs is time that can’t be used for things like adding features. Quality Engineers are good at figuring out where problems are in a complicated system. This means your workers will spend less time looking for bugs while building the system. Quality Engineers can point developers correctly, saving time and money in the long run.
  2. Time Savings: When making software, time is always a worry. It seems like there’s never enough of it. When time runs out on a project, teams often have to make the hard choice of cutting testing time to meet their deadline.

Partnering with domain experts in Quality Engineering like Maveric Systems offers leading banks and FIs unparalleled value in creating strategic differentiation.

  1. Efficiencies: Testing takes time, but Quality Engineers look for ways to save time by making their testing process more efficient. Quality Engineers help the team by automating tests that take time, finding tools that make work more efficient, and building infrastructure that multiple projects can use.
  2. Better Quality: Apps are getting more and more complicated. Apps that use local data to work are a thing of the past. The design has become more complex, and testing how well the different layers work together is more critical than ever. Traditional “Black Box” testing has many problems. The Quality Engineer comes in. When testing is done in a gray-box way, and the design is well understood, the whole system can be tested more thoroughly.
  3. Better planning: Quality Analysts’ main job is to keep code out. QAs test the product to see if it is ready to market after coders make changes. But what happens if quality assurance finds a problem requiring much extra work? Changing the way your application is built takes time and money. During the planning part of a project, Quality Engineers can help lead discussions that give more information and a different point of view. They talk freely with developers about how to build and test in the best way. This can help find problems with proposed implementations early on.

Conclusion

Quality engineering aims to improve a product at every stage of its creation so that the delivery process goes more smoothly and mistakes are found early on. Quality means different things for different products and services, but everyone in this field works to build quality checks into every step of production. Quality engineering is something that every organization in the world does, whether they know it or not. When you make a product or service, you have to deal with the task of making it high-quality. Almost every time people have ignored quality, things have gone wrong.

Quality engineering provides a way forward by taking a proactive, preventative approach to implementing quality systems. This solves the quality problem that software development and product development face in general.

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.

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How Technology is Transforming Quality in Banking – Quality in our Roots.

How Technology is Transforming Quality in Banking – Quality in our Roots.

Quality in banking refers to the effectiveness, reliability, and excellence of products, processes, and customer experiences. As technology advances, it is revolutionizing the quality engineering landscape in banking, enabling more efficient and effective ways to ensure and enhance quality. This blog will explore the significance of quality in banking and how technology is transforming the quality engineering landscape.

The Maveric Advantage

Starting in 2000, Maveric began as an independent testing provider, then transitioned into quality assurance, then transformed into a multi-competency provider and changed course yet again, as banking solutions specialists with a hyper-focus on areas like CX, Digital Operations, Data, and Regulatory Tech. Today Maveric Systems partners with global banks to solve next-gen business challenges through emerging deep technology and Quality Engineering. 

The Importance of Quality in Banking. 

Quality is crucial in banking due to several reasons:

  1. Customer Trust and Loyalty: Banks handle sensitive financial transactions and customer data. Ensuring the quality and security of banking services builds customer trust, fostering long-term relationships and loyalty.
  2. Regulatory Compliance: The banking industry is highly regulated to protect customers and maintain financial stability. Compliance with quality standards and regulations is essential to avoid penalties, reputational damage, and legal consequences.
  3. Operational Efficiency: High-quality processes and systems improve operational efficiency, reduce errors, and optimize resource utilization. This leads to cost savings, enhanced productivity, and better customer experiences.
  4. Competitive Advantage: Delivering superior quality sets banks apart from competitors, attracting customers and differentiating the brand. Quality becomes a key factor in customers’ decision-making processes.

Our QE Proposition. 

A strong domain powers Maveric’s transformative, scalable QE solutions connect. For every unique customer requirement, our QE specialists conduct an in-depth analysis, take a design thinking approach, build a prototype solution, thoroughly test it before deployment, and facilitate consistent improvement measures to maintain continuous quality. The 95% QE automation protocol at Maveric deploys cognitive computing and predictive analytics for intelligent automation, evident in tools, accelerators, and matured frameworks. You experience solutions engineered for blazing speed and scale at constant quality with us.

Technology’s Impact on Quality Engineering in Banking

Technology is transforming the quality engineering landscape in banking, introducing new approaches, tools, and capabilities that enhance quality management and assurance. Here are some key ways in which technology is impacting quality engineering in banking:

  1. Test Automation: Test automation leverages software tools and frameworks to automate the execution of tests, reducing manual effort and improving efficiency. Banks can automate functional, performance, and security testing processes, ensuring comprehensive and timely quality checks. Test automation enables faster release cycles, reduces time-to-market, and supports continuous integration and delivery practices.
  2. Continuous Integration and Delivery: Continuous integration and delivery (CI/CD) practices involve frequent integration and deployment of software changes, promoting faster and more reliable software releases. Banks can ensure the smooth and rapid delivery of high-quality software solutions through automated build, testing, and deployment pipelines. CI/CD practices reduce the risk of introducing defects and enable quick feedback loops for continuous improvement.
  3. DevOps and Collaboration: DevOps practices encourage collaboration and close alignment between development and operations teams. By breaking down silos and promoting cross-functional collaboration, banks can improve communication, speed up problem resolution, and enhance quality throughout the software development lifecycle. DevOps enables faster feedback, error detection, and remediation, leading to better overall quality.
  4. Performance Testing and Scalability: Technology enables banks to test and simulate real-world scenarios to assess system performance, scalability, and reliability. With the help of load testing tools and cloud infrastructure, banks can evaluate how their systems handle peak loads, ensuring optimal performance during high-demand periods. Performance testing mitigates system failures, slowdowns, and inadequate capacity risks.
  5. Analytics and AI-Driven Quality Insights: Advanced analytics and AI technologies offer powerful capabilities to derive insights from vast data. Banks can leverage these technologies to analyze customer feedback, user behaviors, and operational data, uncovering quality improvement opportunities. AI-driven quality insights enable proactive defect prevention, anomaly detection, and predictive quality analytics, leading to better decision-making and continuous quality enhancement.
  6. Security Testing and Fraud Prevention: Technology is critical in security testing and fraud prevention in banking. Banks can proactively identify and address security vulnerabilities through penetration testing, vulnerability scanning, and intrusion detection tools. AI and machine learning algorithms aid in fraud detection and prevention by analyzing patterns, identifying anomalies, and enabling real-time risk assessment.
  7. Customer Experience Monitoring: Technology enables banks to monitor and assess customer experiences across various touchpoints. Tools such as customer journey mapping, user experience analytics, and sentiment analysis provide insights into customer interactions and satisfaction levels. Monitoring customer experiences helps banks identify pain points, optimize processes, and deliver personalized experiences, ultimately enhancing overall quality.

Conclusion

Quality in banking is paramount for customer trust, regulatory compliance, operational efficiency, and competitive advantage. Technology plays a transformative role in the quality engineering landscape of banking, enabling banks to deliver higher-quality products, processes, and customer experiences. Test automation, continuous integration and delivery, DevOps practices, performance testing, analytics, and AI-driven insights are ways technology is reshaping quality engineering in banking. By embracing technology-driven quality practices, banks can ensure better risk management, improved operational efficiency, enhanced customer experiences, and maintain a competitive edge in the evolving banking industry.

About Maveric

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.

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The Important Move From Quality Assurance To Quality Engineering

The Important Move From Quality Assurance To Quality Engineering

In the last few years, businesses have had to change their IT systems quickly. No matter your industry, IT developments like cloud migration, improving digital platforms, and data-management tools are now must-haves, not choices. A few relevant questions appear in the light of such swift and profound changes.

How can QA teams change to shorter iteration times? How can they set up flexible and risk-controlled systems, given the pandemic and all the secondary instability it brought, such as supply chain problems, inflation, a lack of skilled workers, and a possible recession?

QA’s Growth Timeline

Modern QA, in which speed and productivity are essential, has its roots in the Industrial Revolution. During this time, the idea of training workers, writing down protocols, and dividing up work between employees and managers, which didn’t exist in fiefdoms, came into being.

Testing has been the main focus of quality assurance (QA) in software development for a long time. QA is usually done at the end of the production cycle in an industrial setting. For example, crash tests are done on car prototypes to see their safety. But these quality tests can only be done once the car has finished manufacturing. This made the develop-to-test system famous. The develop-to-test structure is used in the process of creating software. Once a software product has been built, it is sent to QA teams for different kinds of testing, which is the last line of defense before it is given to customers.

Partnering with domain experts in quality engineering, like Maveric Systems, offers banks and FIs leapfrog opportunities for their overall growth strategy.

QA Approaches and Drawbacks

Traditional ways of making certain qualities are needed. Here are some drawbacks:

  1. Most quality assurance tasks are done later in the development process, even though they are effective.
  2. Few people on a small team ensure the quality of the goods.
  3. Problems are dealt with after they happen instead of before they do.
  4. When problems are found, the product often needs to be remade, which takes more time and money to do later.

Transitioning from Quality Assurance to Quality Engineering – Three Key Factors

  1. The key to success in QE is ensuring the correct quality protocols are in place at the proper steps of the development process. In agile development programs, quality engineers can best provide the right quality standards are followed. The WQR says that agile companies have cut their time to market by 65%, improved software quality by 56%, and enhanced customer experience by 61%.
  2. Many studies posit that cutting-edge technologies will make the change from QA to QE The reports warn that there isn’t a single clear leader in technology right now and that each team will probably have to set up its own QE stack.
  3. People will drive the move to QE. So, people need skills matching how the QE role has changed. Experts say testing and engineering skills should be paired with subject-matter expertise, platform understanding, and business sense.

Transition From Quality Engineering to Quality Assurance

Conclusion

As companies progress on their path to digital transformation, they focus on making innovative software faster and more quickly. Technology is now an essential part of our everyday lives, and every business, no matter how big or small, depends on software in some way or another. You don’t want QA to be something other than a block that slows down the company and makes it hard to meet deadlines, but you also need to ensure that the software is high quality and has no bugs.

Even though QA is essential to the Software Development Life Cycle (SDLC), software testing has dramatically changed because of digital transformation. It takes a strategic commitment to quality all the time and a profound change in people, systems, and technology. Companies must realize this and speed up their digital change efforts by making testing more modern. By going through their whole organization and rethinking how they try the software, companies will be able to get rid of the slowdowns that their current QA strategies cause and speed up their change even more.

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 Systems 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.

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Why Is Quality Assurance So Important in Banking Systems?

Why Is Quality Assurance So Important in Banking Systems?

As competitive rivalry increases, banks are developing online platforms that meet consumer aspirations for efficiency, convenience, and overall engagement. Digitization increases banking client experience, and brick-and-mortar banks compete with virtual or online banks. These banks have reduced overheads and offer better offers and customer-focused platforms to take over a market that needs to be addressed, handled, or left by more-fancy names.

Banking Apps Dominate Post-Pandemic

  1. Globe Newswire estimates that the global mobile banking market will grow 12.2% from 2019 to 2026, from $715.3 million to $1,824.7 million.
  2. Statista reports that 90% of US mobile banking app users check their accounts, 79% examine recent transactions, 59% pay bills, and 57% transfer. These figures show that many people utilize mobile banking services. Hence a decent mobile app UI is essential.
  3. Between December 29, 2019, and March 1, 2020, when the COVID-19 pandemic began, Statista found that the average weekly usage of fintech apps in Japan, South Korea, and the US increased by 55%, 35%, and 20%, respectively.

The growing case of QA for Banking Systems

Financial quality assurance boosts product performance and quality. QA initiatives must be well-planned to satisfy rising customer expectations. This implementation needs enhanced test management programs to eliminate post-production problems to remain competitive. User experience and cyber-security must be tested together. Letting bugs slide through the holes in banking can have serious legal, reputational, and customer-life ramifications.

These solutions strengthen fundamental systems and automate operations to minimize testing expenses. Testing narratives must be diverse and extensive as applications become more sophisticated and interconnected. Financial quality assurance provides a cutting-edge user experience, meets expectations for integration, navigation, and responsiveness, and secures finances and personal data. Success in these areas is the only way to compete with consumer needs and new banks.

Partnering with banking domain experts like Maveric Systems for cutting-edge QA systems helps to lead FIs to create competitive differentiation in the marketplace.

Points of Emphasis for QA systems in Banking organizations:

  1. Cyber Risks – Banker and account information are the most crucial parts of QA assurance. Banks need help to stay up with security as new tech is exploited. Vulnerability testing helps stay up with this QA race.
  2. Cloud Infrastructure – When moving infrastructure to the cloud, banks should employ a hybrid system with the most sensitive procedures in their private cloud and the remainder in the public cloud. QA tests cloud apps to guarantee a smooth transition and secure data migration.
  3. Third-party app integration Banks must integrate with several third-party apps. Retail, eCommerce, gaming, etc. Functional and integration testing verifies that these applications work effectively with the banking app, which will significantly improve user experience.
  4. Early Engagement – Customer, vendor, and continual communication develop these criteria and necessities early on. This ensures stakeholders and dev teams can examine requirements without violating current or future workflows. Each scenario can then be realized to meet client needs.
  5. Navigation — From a client standpoint, this is the most obvious, but many banks still struggle with it. Internet banking apps often crash unexpectedly, ruining the user experience. Usability testing is essential for banking QA since apps must help clients reach where they want to.

QA Testing

Why should Banking Systems Leverage QA

Financial institutions are rapidly digitizing as technology advances. To create a good client experience, the banking business relies on technology and various banking applications.

Banks handle critical client data and significant transactions 24/7, making QA strategy necessary. QA testing ensures that banking products are defect-free before release, enabling seamless transactions and an outstanding client experience. So, banking systems need QA testing for high-quality mobile apps.

Conclusion

Digital technologies are transforming industries and helping them prosper. Every industry relies on Quality Assurance to satisfy digitally equipped clients. Banking customers expect the best as digital acceptance of banking is accelerating. Banking digital transformation will boost data openness, eliminate intermediaries, and provide secure, fast access to financial and intellectual data, making banking activities cheaper and more effective.

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 Systems 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 Systems teams work in 15 countries with regional delivery capabilities in Bangalore, Chennai, Dubai, London, Poland, Riyadh, and Singapore.

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