Why Banking Domain Testing Is Necessary and Challenges in App Testing

Banking sector applications have a complicated structure, multi-layered processes, and diverse capabilities. Furthermore, because most of them deal with sensitive data, the level of data security should be flawless.

This post serves as a checklist for anyone who manages banking domain applications. After reading this post, you'll better understand why testing banking domain products are so complex, what actions to take, and the best approaches.

By extensively embracing technology, the banking industry has become all-encompassing. Mobile, cloud, social media and portals constitute the total ecosystem, diverse and multichannel. Banking applications provided unfathomable conveniences a decade ago, with operations like money transfers, utility bill payments, ticket booking, and many more being completed with a button or a screen swipe. Given that these apps deal with sensitive consumer data, such as financial information, they should have impenetrable data protection mechanisms. And banking domain application testing ensures that data is accurate, scalable, reliable, and, most importantly, secure across digital touchpoints. Let's take a look at what banking application testing entails.

What is Banking Domain Testing?

Evaluating the many aspects of banking software is known as banking domain testing. In the age of online and mobile banking, having a dependable application with safe transactions and one-click access is essential.

Before releasing the final version, development teams work closely with QA professionals to test the program. The development of a framework is the first step in the testing process. Next, all procedure phases are detailed, and time and budget estimations are provided.

The following is a quick checklist for the banking domain testing process:

• They are identifying requirements: A tester records each provision and categorizes it as Use Cases or Functional Specifications at this stage. Modules separate requirements into different aspects of the program, such as money transfers, bill payments, mortgages, loans, deposits, etc.
• Reviewing requirements: After the list of application criteria is complete, it must be refined further. All parties convene for a meeting to examine procedures and situations. It's critical to ensure that conditions don't conflict and that the program runs at maximum performance.
• They are building a test case suite: Automation engineers choose test cases, determine which ones can be automated, and write custom scripts at this step. In the banking area, a QA professional can also select manual testing; in this instance, a team of testers must be assembled and tasks assigned to each specialist.
• Functional testing: A QA professional performs tests to guarantee that primary user workflows are bug-free and error-free.
• Database testing: A tester verifies that the app has data integrity throughout these sorts of testing in the banking area. At the same time, QA specialists analyze the database structure and data types, stored functions and processes, and data loading speed.
• Security testing: Because banking apps are so sensitive, developers must go to great lengths to secure user data from hacker assaults and fraudulent activity. In addition, a QA team conducting security testing must ensure that the application complies with security rules and does not expose any sensitive data to the masses.

• User acceptance: Last but not least, a development team must be convinced that the application's functionality will satisfy real-world consumers. As a result, QA professionals test the tool's user approval by inviting a focus group to try it out.

TransformHub has aided several organizations in the banking sector in Singapore with optimal banking domain testing and execution as the best QA testing company. However, you'll need the correct technology partner to test and deploy successfully.

Why Do You Need Banking Testing?

Banking domain application testing is critical since it gives business owners information they might not have seen before. It's best to take your time and spot any difficulties while the project is still in development rather than correcting bugs in a rushed situation once the program is out.

When a banking firm collaborates with technology firms such as TransformHub, which is regarded as the best QA testing company, the complete banking domain testing is scheduled ahead of time. This is done to guarantee the highest level of quality assurance while the project is still in development and to decrease engineering labor hours.

Other advantages of banking and finance domain testing motivate firm executives to devote their complete focus to this stage of product development. Let's take a closer look at them:

• Detecting and fixing performance issues: Testing aids the project team in predicting user behavior and identifying problems that app users are likely to face. As a result, once a finished product is launched, the firm owner may rest assured that the tool is bug-free.
• The development team that understands workflows: You will be able to verify that banking modules do not conflict with one another, that all critical workflows operate independently, and that they are safe and transparent through testing.
• Helps deal with technical debt during maintenance: Any legacy code will always result in technical debt. Testing will not allow developers to entirely avoid it. On the other hand, a programmer will be able to recall his train of thought throughout development if he has access to old logs. Unit testing as documentation is a typical tech approach that is especially useful for something as complicated as a banking application.
• The quality of managing complex systems is improved: Banking systems are often highly complex, with multi-layered procedures and hundreds of interconnections. Testing is the only way to analyze and monitor such a system thoroughly.
• Improves user retention: A developer will know how many customers the system can accept and how long it takes for the page to pack after performing software testing in the banking domain. Developers will be able to improve the tool's performance, ensuring that it delivers high-quality financial services to the whole user base that are both quick and simple to use for novice PC users. Your application will be more thought out and transparent than a product that hasn't been tested, resulting in higher user retention rates.

What is quality assurance in banking?

With the banking industry riding the digital wave, it's more important than ever to guarantee that the digital aspects and channels employed in the sector are flawless in terms of quality, accuracy, stability, responsiveness, and security. Evaluating many areas of banking software and assuring its suitability for the final release is known as banking domain application testing. The following are the essential areas or factors to consider while testing banking applications:

• Identifying any performance concerns and predicting user behavior.
• Increasing knowledge of banking modules and procedures, particularly their capacity to function autonomously, openly, and securely.
• Dealing with technical debt during maintenance is an unintended consequence of old code.
• Identifying and managing very complicated processes with numerous dependencies.
• Increasing the software's performance and understanding the traffic thresholds can work.
• Increasing user retention via improving the application's performance

Challenges for QA in banks

To provide robust, responsive, scalable, secure, accessible, and rapid banking software, developers and testers must overcome several problems.

• Implementing an impregnable security system:

Every banking software program contains sensitive consumer data, which may be disastrous for users if it falls into the wrong hands (individuals and businesses). To protect assets and private information, they must have a secure system. During testing, testers must construct a comprehensive and safe test environment to incorporate security mechanisms such as one-time passwords, codes, and access validation, among other things. Compared to other projects, it makes security testing for mobile banking applications a time-consuming and costly endeavor.

• Different operating channels: 

Users can use various devices, browsers (chrome, IE, Firefox, etc.), and internet connections to access the bank via a portal, a banking application, or a digital wallet (dial-up, broadband, etc.) In an omnichannel world, testing banking domain apps should examine the operation of all digital touchpoints. In addition, it should determine whether the page's performance is optimal when viewed across various browsers and networks.

• Complex data: 

The backend of banking apps stores a range of data, including passwords, data, and assets. Malware and other cyber dangers mustn't get into the application databases. The database connection and logical functions should be double-checked throughout the testing process. However, it should be done through a virtual private network or VPN for increased security reasons.

• Configuration vulnerabilities: 

Many financial programs are incorrectly designed and stray from standard practices. Such flaws should be identified during mobile banking application testing to guarantee that consumers' accounts and information are not hacked.

• Security: 

Given the prevalence of threat actors throughout the digital realm, BFSI security testing is crucial. However, due to the wide range of networks and operating systems used by different device platforms, such testing is complex. Furthermore, several security criteria must be followed while using digital channels.

• Usability: 

Customers of all ages, genders, locations, statuses, education, and skill sets, among others, should be able to utilize banking programs that are easy to design and use. As a result, the efficiency and simplicity of the website or banking application should be assessed.

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How can TransformHub help you?

In terms of performance and security, banking domain apps may be susceptible. As a result, project teams should test these systems with great care.

A rigorous testing framework helps firm management minimize compliance concerns and penalties, increase bug resolving speed, and make future maintenance easier.

Above all, a well-tested software will appeal to users and serve as an effective conversion booster.

Contact TransformHub for high-quality banking domain testing from the best QA testing company. Learn how our testing team can help you enhance your product by looking at our services. Contact us to talk about the specifics of your projects; TransformHub is excited to be a part of your team.

Give our sales team a call at +65 31384660 or contact sales@transformhub.com if you'd like to talk about the best cloud-based solution for your company.