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Comprehensive Software Testing Approach for Banking Applications

We live in an era where technology drives us in every spec of work and time. Our day starts with an alarm set in our smartphone awaking us and ends by the alarm set for the next day. This is what technology is doing and it has been a step ahead in our lives.

To stay competitive in this technologically driven world, banks are digitizing all facets of running their business by investing a lot into technology. Digital transformation initiatives such as Omni-Channel Banking, Cloud, Blockchain, Internet of Things and Artificial Intelligence are shaping up the future of Banking industry. To get most out of digital transformation, Banks must realize the importance of Quality Assurance and increase their focus on it. This can result in achieving the best-in-class end-user experience.

Digitalization is also Transforming Software Testing for Banking

Digitalization has led to the evolution of FinTech enterprises and empowerment of Non-Banking Finance companies, which are now facilitating customer-centric services such as peer-to-peer lending, facial recognition payments, mobile wallets, cryptocurrencies and many more. So, Banks are in the verge to pace up money transaction speed and quicken loan approval processes. While focusing on transforming to provide better services, Banks should place “Software Testing” at the core to ensure hassle-free transformation.

Banking Software is equipped with capabilities to address Banking operations’ complexities and functionalities for customers and employees, and it integrates seamlessly with third parties. So, testing strategies should be developed considering complexities, functionalities, and integrations. Digitalization has brought more than one channel for customers to interact with Banks and latest technologies’ adoption to deliver Banking services. Therefore, an upgraded Software Testing approach should be embraced which incorporates more than Test Automation and Manual Testing.

The Upgraded Software Testing Approach should be Comprehensive

Incorporating comprehensive software testing methodologies with functional and non-functional testing types will fetch exceptional results.

A comprehensive Software Testing methodology is designed taking characteristics of a Software into consideration. Desktop, Web and Mobile Banking applications are one among the most complex applications that have functionalities such as Fund Transfers, Cards & Payments, Savings & Deposits, Loans and many more, large scale integrations, real-time transactions in huge volume, complex workflows for customers and employees, massive concurrent users, and custom dashboards & reports. All these characteristics make Banking Software more complex than other businesses’ Software, so a comprehensive testing methodology for Banking Software should include:

  • Functional Testing – 100% Test Coverage for all Banking workflows, and include System Testing, Usability Testing, and Exploratory Testing
  • Performance Testing – include stress, spike, endurance and capacity tests
  • Security Testing – ensure Banking software resilience for cyber attacks
  • Functional and Load API Testing

Banking Software Functional Testing – Domain Knowledge is the Backbone

There are an ample number of choices that customers have today, so for web applications or mobile apps to achieve customer satisfaction, they should be functionally rich and seamlessly usable.

Banking applications have complex workflows both for the customers and the Bank employees, so functional accuracy and amicable user experience can be ensured by testers with Banking domain knowledge. Prior testing experience in Banking space will empower testers to ensure more functional accuracy, accelerate the speed of testing and eliminate the time period required for training or knowledge transfer. By suggest enhancements, testers can also contribute in improving the overall Software not just in finding defects.

Testers with domain knowledge can create Test Cases in all possible scenarios that stimulate end user, whether it is an employee or a customer. Effectual test case creation will help in uncovering defects that hinder end-user experience and add business value to the software.

Prioritizing the defects is an important aspect that testers can do with ease when they have domain knowledge. As development teams work based on the priority and severity of the defects, testers cannot make a mistake in assigning priority and severity level for a defect, this can even impact the release.

Domain knowledge enables testers to understand the terminology used in Banking space, this understanding will help in explaining the defects and providing suggestions on the defect fixes to the development teams and involve in discussions with Subject Matter Experts or Business analysts to finalize the enhancements or improvements.

Banking Software Non-Functional Testing – Performance and Security Testing Importance

Let’s first start with Performance Testing. Though banking software are rich in functionality and if lacks in performance, then it causes inconvenience to customers and employees who are working on the banking operations.

A functionality can work fine for a single user or multiple users, but when the number of users is huge then functional inaccuracies can happen. These functional inaccuracies in the middle of workflow for an employee or a money transaction for a customer can lead to Data Loss, Data Leakage and other Banking operational issues.

Both business and operations of a Bank will be in impact due to low performance of Banking Software. So, ensuring the Banking Software performs at its best is most important by implementing Performance Testing with different load variations – spike, endurance and stress user load variations, and capacity tests.

Let’s now talk about Security Testing. Banking systems evolved over the years with technological evolution, so as the threat landscape evolved. Attackers are now equipped with more advanced and complex techniques, aiming either to get customers’ accounts access or to bring the Banking systems’ servers down. ‘

SQL injection is now the widely used technique leveraged by attackers to access Banking systems’ SQL database and manipulate records such as account holder name, account number, loan application number or details and many more. Attackers leverage cross-site scripting to steal users’ credentials or other sensitive information, variable manipulation is another technique to seize the data communication between client-server and perform illegal transactions, and other techniques include phishing & farming and spyware & key loggers which are now widely used to steal credentials from Banking customers.

Performing security testing at application and network levels and employing stringent defense mechanisms will safeguard Banks and its customers against all security threats.

ClicQA Banking Testing Services Drive Innovation and Transformation for Banks

The adoption of Mobile Banking and Internet Banking has enabled customers to access Banking services anytime and anywhere. Banking Software for employees is business critical for Banks to execute their business and operations. So, both customers and employees expect a seamless experience Banking web applications, mobile apps and desktop software. Alongside, Banks should also focus on achieving faster time-to-market when they wanted to rollout any new Banking service or product.

So, to simply the process of ensuring seamless user experience and high quality of their applications and Software, Banks are searching for Banking Testing services provider who assures them the confidence of their business goals.

At ClicQA, we leverage our Banking specific test accelerators, frameworks and libraries to deliver comprehensive Banking Testing services. We assist Banks with their transformation initiatives and partner with them across their transformation journey. Our services can be employed through their SDLC, whether it is a Waterfall or Agile. Here are a few highlights of comprehensive Banking Testing services:

  • Our cream of the crop testers have deep Banking domain knowledge and they have proven experience in Cards, Mobile Banking, Internet Banking, Retail Banking, Investment Banking, Corporate Banking, Wallets, Payments/Remittances, Fund Transfers, Deposits and Loans.
  • Reusable test library with use cases, test scenarios, test cases and open source automated tests
  • Improved faster time-to-market and upto 20% overall cost saving on testing with significant time spent reduction on test creation and execution
  • Assistance on defect fixes by testers who have vast experience in testing banking applications
  • Reduced defect leakage to production and upto 30% post production defects reduction

With our domain knowledge and previous experience in testing Banking applications, we ensure functional & transactional accuracy and ease of use. At ClicQA, we are also equipped Performance Engineering and Security Testing expertise to ensure high performance and security for Banking applications.