Organisations are feeling pressured to accelerate their software to keep current with the competition and to create their applications compliant and secure to function, with agile test management. Because of this, automated testing is now crucial to stay afloat in any business. Automated testing gives developers time to focus on innovation. As with so much disturbance, the most important thing financial services companies will need to concentrate on is creating the very best product available to stick out from the crowd. At the moment, software developers spend approximately 20 percent of the time testing.
If this task was outsourced to automatic testing solutions, programmers would have more time to make more innovative applications, which in turn should help companies achieve better results in the long term. It also keeps clients happy; once upon a time, the industry only had a couple of competitors, which meant speed was not a ‘must’ of customer experience, instead than the quality of the services was more so. Where as the landscape has changed today.
With the growth of challengers and through the digital transformation, the capacity to innovate quickly has become an integral determinant to safeguard your company. Customers want to be certain they are getting their money’s worth and that along with the best quality they are also getting the most recent software updates. When they do not get this, they can easily move to a rival business. Think about the countless lines programmers have to test each time they make a change; it is simply not feasible for them to check manually. The solution? Automated testing. By outsourcing the load of regression testing, manual testers are freed up to concentrate on exploratory testing, providing a much better product and user experience.
Financial programs hold particularly sensitive information because of the nature of the business. They have access to customer information, which range from names, home addresses and banking details, all of which could be incredibly detrimental to company if they fell in the wrong hands. Automated testing now reduces the burden on developers, which means that companies do not have to worry about the protection of their customers. There is a lesser chance of missing something, which could leave an opening for those trying cybercrime.
The testing is also installed so that it adheres to all of the safety standards across platforms, networks, and OS. Think about times when this might have helped in the past. Industries now move faster than ever before, and it is affected by current affairs at every turn; over the next few decades, components like Brexit and EU regulations are expected to change lots of the current structures in place. Just this September, the UK authorities told the industry that it is highly probable EU regulations will be abandoned article Brexit in finance, resulting in a lot of deep-seated changes.
Moreover, because of changing regulations, the financial services companies must also always work on compliance. A 2015 PwC report revealed that 77 percent of financial institutions planned to expand their compliance over the next couple of decades. Manual testers can implement these changes, but again, this is a long and tedious process, which involves hours of the time and effort that could be better spent elsewhere.
Modern automated testing tools can provide testers with the excess time to innovate, resulting in a better, stronger and more innovative financial services company. The tools do not just run tests, which were composed by a human, they could write test scenarios themselves. Moreover, they can also help improve customer experience and conquer critical issues such as security and compliance.