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Things To Consider While Testing Financial Services Applications

By Expert Author: Ayyappa

Management of finance across monetary scenarios needs suitable software programs that help in processing financial information. This processing can include automation or storage of the information as the goal of the financial requirement. Since the application caters to management of financial information, it is subject to multiple software testing techniques to ensure an error-free application. These techniques include testing the functional features and security readiness of the application.

Few of the aspects that are considered during the process of testing a financial application are as follows:

1. Alignment with business goals from the start: Aligning with the business goals of the applications from the start helps the team in meeting the application goals with precision. The business requirements of the application are gathered and streamlined by business analysts. This helps in the successful development of the application even in the case where there are many features involved along with integration of different domains.

2. Being in accordance with the Domain and Financial application: The testing team should have a sound domain knowledge of the application. Meeting the decided application goals mandates the testing team to have a clear understanding of the requirements of a financial application, the background of the application and its utility. Knowing the working procedures and the utility of the domain helps the testing team to write effective test cases and get better end results.

3. Effect of change: This refers to the effect of changes made in the application. Software enhancements and configuration changes may have an underlying effect on the application. With precise regression testing, testing teams verify seamless application performance after an introduced change. Applications are tested even after fixing defects to detect affected areas of the software.

4. White box testing for financial applications: Testing financial applications with sound domain knowledge helps in detecting bugs faster. After functional testing, an improved performance can be expected from the software.

5. Security Testing: Financial applications need to strictly adhere to security protocols. Integration with third-party applications, growing customer base and proliferation in practice of remote work process has made financial applications more susceptible to security threats. Financial applications function with data processes across a growing industry share. Dealing with security threats needs thorough scrutiny to ensure data protection. All-encompassing, intensive security oriented testing identifies and addresses security threats.

6. Performance engineering: Financial applications are not limited to definitive products. The requirements from the financial services are expanding and so are the expectations from financial applications. Lifecycle of financial applications therefore has a major dependency on strong IT support for seamless service performance. Performance engineering in financial application leads to better scalability and reliability helping the applications meet the requirements of the increasingly fast-paced application development cycles.

Effectiveness and proficiency in financial applications needs high degree of validation and verification. Financial Application Testing can be successful only if a process is dedicatedly followed throughout the application lifecycle. If you are interested in learning more about Testree’s Independent Testing Services, then visit our website http://www.testree.com/industries/bfsi/financial-services and feel free to leave an inquiry.

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