banking and finance application testing

Banking And Finance Application Testing - Consideration Aspects

  • By Priti Gaikwad
  • 27-06-2020
  • Mobile Apps

Evolution of Banking and Finance

Fintech has taken the banking and financial world by storm. Not only has it fastened the ways in which banks have processed for over a decade, but have also changed the way cryptocurrencies have surfaced and redefined the economy. While the market is already at bloom, we see so many applications reinventing themselves on a daily basis. Since Fintech has been able to churn out such fantastic and out-of-box changes to both the financial environment as well as the applications which are able to facilitate such ease in such complex scenarios. Now that the fintech applications ease out complex scenarios, it is most definite that these applications are also extremely high-maintenance themselves. Let us have a look at the complexity of banking and financial software.

The complexity of Banking and Financial software

A financial application is a product program that encourages the administration of business forms that manage cash. It is a sort of programming that is explicitly intended to automate, help and store money related data of an individual or business nature. It handles the capacity, investigation, the executives and preparing of a lot of budgetary exchanges, records, and procedures.

Financial software is based on the standards of managing financial data. It might be executed as independent programming or as a component of a financial framework. Most banking software joins all aspects of individual or business money and gives various highlights, including Basic monetary information the executives, budgetary exchanges and the executives, Budgeting, Account the executives, and budgetary resources the board.

A portion of the attributes of a Typical Financial application is Multi-level usefulness to help a great many simultaneous client meetings, huge scope Integration, regularly a financial application incorporates various different applications. There are several aspects of interaction such as bill pay records along with business work processing complexities. They likewise include Real-Time and Batch Processing with a high pace of exchanges every second. The exchange processor which could be a huge limit mainframe with a centralized unit or some other heritage framework to complete trillions of exchanges for each second. This makes monetary applications so mind-boggling and complex.

Stages Involved in preparing the testing

Now that we have understood the massive complexity of the financial and banking systems, we can also fairly conclude that maintaining the quality of these systems and testing these systems to perfection can also be a heavy and tedious task. Testing banking along with financial applications involves layers of testing techniques and stages in order to ensure that no stone is left unturned in the end product as these applications come with a high risk, both in terms of monetary loss as well as scrutinized information. When the stakes are high so are the complexities. Let us have a quick glance through at the stages involved:

Total coverage

Total coverage of all the necessary workflows are made in liaison with the business requirements to map a holistic scenario.

Functional aspect of the application

Before testing any particular application one has to learn how it functions and how it behaves under certain conditions, so that scenario-based test cases can be built.

Security aspect of the application

Banking applications come with a stringent security measure as they hold sensitive information which when leaked can create a massive havoc.

Data Integrity

The test case has to ensure to check whether the data integrity is there in place or not as that is one of the most predefining sects of any financial application.


Testing a financial application has to ensure that the load-bearing capacity of the application is intact as all banking and financial applications has to ensure that it can handle concurrent load sharing on a real-time basis.

User Experience

Keeping the UI and updates in check

Performance of the application

Make sure that the system bottlenecks are tested and tuned as nobody likes a transaction error and user error.

We have seen how to thoroughly go step-by-step while testing for a BFSI application. Now let us come to the final section of the article.

Let us consider Top aspects to consider while testing for a BFSI application


It isn't vital that all old programming is inherited and requires modernization. Evaluate every one of your frameworks set up from the quality and test the executive's point of view. Make sure that the coverage is in place. Make sure to include the incorporation of DevOps tools as well. Discover the need holes and assess in the case of supplanting the framework with a cutting edge instrument will work best for your association's difficulties.

Wholesome support

Migration from inheritance programming is regularly an enormous worry for banks inferable from the immense measures of test resources that should be relocated. Waitlist merchants and devices based on their movement plan and backing. Check online surveys for their existing test management, along with making a thorough check for their integration capabilities and support functionality. Discover how best you can upgrade your current instruments by incorporating their answer. You should also make sure to search for items that give the decision of SaaS and on-premise arrangements. Choose the right tech stack.This is just not confined to the clutches of project management but the entire testing ecosystem.

Support for test automation

Make sure to check for the speed and functionality as they are the prime most aspects of automation testing. Make sure to check if the tests are used to capture and aggregate the results and combine them into one single result over any particular test suite.

Dual support

Since both agile and waterfall methods are used widely. Also, yourautomation testing tools should have that flexibility to provide extensive support so that the test can evolve in a progressive manner. In totality, your test management tool should be flexible enough to accommodate the changing environments of your organization.

In the aggregation of innovation and speed

The computerized innovation of the fintech segment and the appearance of numerous new non-banking fund participants to the scene have reformed customary financial frameworks. Banking and financial foundations are experiencing an extreme move in their center capabilities. A client-driven methodology drives the requirement for development alongside speed and quality. Test techniques must be created considering these elements and programming testing must be rehauled at its center to guarantee a smooth venture. Choosing the correct test management tool is the way forward.

Recent blog

Get Listed