Have you visited a bank branch lately? Bet that you can hardly remember the last time you were there. The thing is that today the majority of banks offer their clients helpful web and mobile applications using which they can settle any issue in the blink of an eye 24/7 without a need to leave their homes. Very convenient, isn’t it? Still, behind these smart systems lie a lot of efforts made by a huge team of banking experts, business analysts, developers, and QA engineers. This article is dedicated to banking applications testing since quality assurance is of primary importance when it has to do with money.
The banking domain combines diverse banking institutions providing different financial services including investment services, overdraft facilities, account management, insurance facilities, credit facilities, deposit facilities, currency exchange, insurance facilities, etc.
With the rapid development of technologies, banks have got an excellent opportunity to transfer their activity and majority of services into the digital realm. As a result, online and mobile banking is gaining momentum day by day.
As banking is all about money, users have high requirements for banking solutions while state governments and global finance society also have set high standards for applications of this type in order to reassure their security, reliability. and stability.
Consequently, it is obvious that banking app testing services is a far cry from the testing applications of any other type. So let’s consider in detail what makes banking applications and their testing so special.
Banking applications are digital tools that significantly optimize the work of banking specialists and considerably simplify the lives of ordinary people. We have already got used to settling all our banking and finance-related issues using a corresponding application. With its help, we can check an account balance, pay bills, pay loan installments, transfer money, exchange currency, view an account statement, receive alerts or reminders. and many more. Applications of this kind have become indeed irreplaceable. Financial institutions, in turn, benefit from operating cost reduction, improved customer service, workflow optimization, and plenty of other lucrative opportunities. On the flip side, financial service providers can be exposed to numerous risks like data breaches, security flaws, faulty transactions, loss of funds, criminal prosecution, destroyed reputation, etc., if a banking application is not comprehensively tested. Still, banking app testing is not a piece of cake at all. The thing is that modern banking applications are of high complexity. Moreover, they are subject to strict security regulations. All in all, banking applications have the following characteristics: