QA testing for financial companies represented by money on a computer

Importance of QA Testing for Financial Institutions

Banking websites and applications have become extremely complex. Indeed, more and more people go online or on mobile to check their balances, transfer funds, pay their bills and more. According to World Finance, the prevalence of digital transactions grew almost 10 percent between 2014 and 2017 (and by almost 15 percent in developing nations) thanks in large part to the growing number of people interacting with the internet and mobile phones. However, to avoid customer complaints, financial institutions must ensure that this entire process is easy, quick and smooth. Only adequate QA testing for financial companies can help them live up to customer demands.

How Many Banking Apps Work

Though some banking applications function differently, many operate using the following process:

  • First, users access their banking information via mobile or desktop website.
  • Next, the website connects to a web server, which also connects to a middle tier that validates input and output commands.
  • Thirdly, data is transferred to a database.
  • Finally, a transaction processor ensures requests are carried out.

Why QA Testing for Financial Companies is Necessary

Failure or vulnerabilities anywhere along the payment process could lead to disaster. If a vulnerability exists in a financial software program, hackers could gain access and exploit sensitive user data. This is why end-to-end testing is extremely important for financial institutions. It ensures optimum user experience, consumer safety, program functionality, adequate load time, and data integrity. Software testing ideally occurs both during the development process and periodically after release to check for vulnerabilities.

Most financial institutions do not have the internal staff or devices and platforms to take care of all types of time-sensitive testing. Employing a quality outsource QA testing team for financial companies is always a good option.

We’d love to show you how iBeta can assist you with all of your QA testing needs. Contact us today. to learn more