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Why Is Quality Assurance So Important in Banking Systems?

Why Is Quality Assurance So Important in Banking Systems?

As competitive rivalry increases, banks are developing online platforms that meet consumer aspirations for efficiency, convenience, and overall engagement. Digitization increases banking client experience, and brick-and-mortar banks compete with virtual or online banks. These banks have reduced overheads and offer better offers and customer-focused platforms to take over a market that needs to be addressed, handled, or left by more-fancy names.

Banking Apps Dominate Post-Pandemic

  1. Globe Newswire estimates that the global mobile banking market will grow 12.2% from 2019 to 2026, from $715.3 million to $1,824.7 million.
  2. Statista reports that 90% of US mobile banking app users check their accounts, 79% examine recent transactions, 59% pay bills, and 57% transfer. These figures show that many people utilize mobile banking services. Hence a decent mobile app UI is essential.
  3. Between December 29, 2019, and March 1, 2020, when the COVID-19 pandemic began, Statista found that the average weekly usage of fintech apps in Japan, South Korea, and the US increased by 55%, 35%, and 20%, respectively.

The growing case of QA for Banking Systems

Financial quality assurance boosts product performance and quality. QA initiatives must be well-planned to satisfy rising customer expectations. This implementation needs enhanced test management programs to eliminate post-production problems to remain competitive. User experience and cyber-security must be tested together. Letting bugs slide through the holes in banking can have serious legal, reputational, and customer-life ramifications.

These solutions strengthen fundamental systems and automate operations to minimize testing expenses. Testing narratives must be diverse and extensive as applications become more sophisticated and interconnected. Financial quality assurance provides a cutting-edge user experience, meets expectations for integration, navigation, and responsiveness, and secures finances and personal data. Success in these areas is the only way to compete with consumer needs and new banks.

Partnering with banking domain experts like Maveric Systems for cutting-edge QA systems helps to lead FIs to create competitive differentiation in the marketplace.

Points of Emphasis for QA systems in Banking organizations:

  1. Cyber Risks – Banker and account information are the most crucial parts of QA assurance. Banks need help to stay up with security as new tech is exploited. Vulnerability testing helps stay up with this QA race.
  2. Cloud Infrastructure – When moving infrastructure to the cloud, banks should employ a hybrid system with the most sensitive procedures in their private cloud and the remainder in the public cloud. QA tests cloud apps to guarantee a smooth transition and secure data migration.
  3. Third-party app integration Banks must integrate with several third-party apps. Retail, eCommerce, gaming, etc. Functional and integration testing verifies that these applications work effectively with the banking app, which will significantly improve user experience.
  4. Early Engagement – Customer, vendor, and continual communication develop these criteria and necessities early on. This ensures stakeholders and dev teams can examine requirements without violating current or future workflows. Each scenario can then be realized to meet client needs.
  5. Navigation — From a client standpoint, this is the most obvious, but many banks still struggle with it. Internet banking apps often crash unexpectedly, ruining the user experience. Usability testing is essential for banking QA since apps must help clients reach where they want to.

QA Testing

Why should Banking Systems Leverage QA

Financial institutions are rapidly digitizing as technology advances. To create a good client experience, the banking business relies on technology and various banking applications.

Banks handle critical client data and significant transactions 24/7, making QA strategy necessary. QA testing ensures that banking products are defect-free before release, enabling seamless transactions and an outstanding client experience. So, banking systems need QA testing for high-quality mobile apps.

Conclusion

Digital technologies are transforming industries and helping them prosper. Every industry relies on Quality Assurance to satisfy digitally equipped clients. Banking customers expect the best as digital acceptance of banking is accelerating. Banking digital transformation will boost data openness, eliminate intermediaries, and provide secure, fast access to financial and intellectual data, making banking activities cheaper and more effective.

About Maveric Systems

Starting in 2000, Maveric Systems is a niche, domain-led Banking Tech specialist partnering with global banks to solve business challenges through emerging technology. 3000+ tech experts use proven frameworks to empower our customers to navigate a rapidly changing environment, enabling sharper definitions of their goals and measures to achieve them.

Across retail, corporate & wealth management, Maveric Systems accelerates digital transformation through native banking domain expertise, a customer-intimacy-led delivery model, and a vibrant leadership supported by a culture of ownership.

With centers of excellence for Data, Digital, Core Banking, and Quality Engineering, Maveric Systems teams work in 15 countries with regional delivery capabilities in Bangalore, Chennai, Dubai, London, Poland, Riyadh, and Singapore.

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Know The Differences Between Quality Assurance And Quality Engineering

Know The Differences Between Quality Assurance And Quality Engineering

Quality engineering replaces quality assurance (QA) in manufacturing and software development (QE). What’s the difference between quality engineering and quality assurance, and why is it growing?

Let’s start with the QA roles. QA is the most common tester title today. This engineer ensures product quality through testing and human and automated procedures. They also monitor software development lifecycle procedures for ISO 9000 and CMMI compliance. The process is usually automatic, although this title is sometimes misconstrued to suggest that this engineer only does manual testing.

A Quality Engineer is not the same as a QA.

Quality engineers (QEs) use engineering methods to improve software development. A QE must establish a quality plan, update code, generate incident reports, run all tests, utilize the same tools and processes as the developer, operate in continuous integration, and understand the project’s business goal.

Partnering with domain experts in quality engineering, like Maveric systems, offers banks and FIs mature advantages to their overall growth strategy.

QA and QE Comparison

How do the two compare and contrast?

Before delivery, organizations often use quality assurance or QA. This is especially true for technology businesses that use quality assurance professionals for final production.

Quality engineering (QE) is a modern idea that integrates quality assessments throughout the production schedule. Understanding your team, their needs, and your customers’ needs can assist you in choosing a QA or QE procedure for production and delivery.

Understanding the QA function in depth is essential before we move to QE.

QAs, plan and execute quality standards to produce quality solutions. QEs automate manual, recurring operations to improve efficiency and reduce errors. QA and QE focus differently, yet both desire outstanding results.

QA begins planning in Agile. QA is needed throughout the product development lifecycle for the following:

  1. Test planning, sprint planning, release planning, and ceremonies as the testing subject matter expert.
  2. Backlog Management—identifying missing Acceptance Criteria and edge cases to create cases.
  3. Reporting testing status throughout daily stand-ups and running functional tests after story development.
  4. Testing functionality and behavior, documenting bugs and collaborating with developers during retesting and issue discovery.
  5. Finding application regression, browser, mobile, UX, performance, and security test cases.
  6. Working with the client team—providing test steps for acceptance testing, assessing and coordinating issues uncovered during testing, and classifying them as defects or upgrades.

While the QE’s role takes on another dimension of the Quality Process. They work closely with the product owner to:

  1. Find repeating test scenarios.
  2. Find tests that use many browsers, devices, and OS versions.
  3. Identify end-to-end test cases.
  4. Automate discovered test cases using automation testing frameworks/tools.
  5. Solve most manual testing issues.
  6. Automate CI tests for build deployment in several settings.
  7. After fixing automation test failures, rerun tests.

Conclusion

QE is related to DevOps and agile software development. DevOps integrates software development with IT operations to break down “silos” and improve communication between development and security teams. Security is integrated throughout development.

Recently, testing has grown through quality engineering that starts early in application planning and develops a continuous feedback loop to anticipate and act on the unknown.

Artificial intelligence (AI) and automation can help teams detect and fix issues faster by collecting historical data. Modern-day software development processes force teams to adjust to a process that supports multiple minor releases instead of longer, fewer ones. Today Artificial intelligence and automation systems are pushing the shift from QA to QE.

About Maveric Systems

Starting in 2000, Maveric Systems is a niche, domain-led Banking Tech specialist partnering with global banks to solve business challenges through emerging technology. 3000+ tech experts use proven frameworks to empower our customers to navigate a rapidly changing environment, enabling sharper definitions of their goals and measures to achieve them.

Across retail, corporate & wealth management, Maveric Systems accelerates digital transformation through native banking domain expertise, a customer-intimacy-led delivery model, and a vibrant leadership supported by a culture of ownership.

With centers of excellence for Data, Digital, Core Banking, and Quality Engineering, Maveric Systems teams work in 15 countries with regional delivery capabilities in Bangalore, Chennai, Dubai, London, Poland, Riyadh, and Singapore.

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All About Moving from Quality Assurance To Quality Engineering

All About Moving from Quality Assurance To Quality Engineering

Quality Assurance is a way of keeping track of the procedures and techniques used in engineering to ensure quality. The concept of quality assurance was initially borrowed from the manufacturing sector, which mainly operated according to a waterfall-like, highly linear model. Therefore, it was not surprising that early software engineering adopted a similar framework for producing software. A similar pattern could be seen in software quality assurance, which was more concerned with ensuring quality than engineering. This appeared to function correctly for a time.

All of this changed with the introduction of iterative development—more popularly known in our industry as Agile Development. In terms of software development timeframes and delivery, iterative development turned the concept on its head. It challenged teams to adjust to a procedure that favored shorter, more frequent releases rather than longer, fewer ones. This has a significant effect on how testing is carried out.

Traditional QA to QE – What does the transition involve?

Quality engineering (QE), which comprises concurrent development, testing, and bug fixes, can eliminate speed and quality tradeoffs. As non-functional requirement testing occurs so late in the process, it frequently leaves developers with insufficient time to solve performance or security issues. The issue fix/rework cycle can be shortened by a team of developers who are knowledgeable about testing, have the necessary DevOps pipeline, and don’t have to compromise on scope, speed, or quality. However, the accountability and responsibility for quality must be transferred to that delivery team.

Because it’s simpler to train a developer to test for quality than to train manual testers to become developers, agile QE has combined the jobs of development and testing. The intention is to incorporate quality so that the build pipeline runs unit testing, functional testing, and baseline non-functional requirement (NRF) testing against important performance indicators every time you contribute code to obtain quick, precise feedback.

Working with long-standing domain-specialized consulting firms like Maveric Systems helps transit from QA to QE a seamless journey.

3 Ways to Move from QA to QE

  1. Defining an Automation Strategy: A change in approach is needed to get from inconsistent testing to reliable QE. There are many moving variables for a company to consider as the QE trajectory shifts more and more toward automation. People, Processes, and Tools are the three most crucial components.
  2. Getting the automation basics correct. Software Quality Assurance and Test Automation procedures will be more incorporated into the QE as the quality war heats up. Making the best testing options is made easier with the help of testing quadrants and pyramids, which also offer the proper Automated QA framework. By classifying all current tests into testing quadrants and executing them following the testing pyramid, QA test automation will work.
  3. Leveraging Agile Frameworks. Building a solid and unwavering foundation requires the application of Agile concepts and principles to Quality Engineering processes. To make it easier for testing teams to implement engineering best practices, organizations should cooperate with them. When using automation, it’s crucial to keep things straightforward. Simple tests or activities can be identified by paying attention to subtle but essential indications such as test ROI, implementation, manual intervention, and pain points.

Quality Assurance To Quality Engineering

How Quality Engineering Works

Quality engineering employs a strict end-to-end quality control strategy to guarantee product and process quality. The method ensures quality from the beginning of the project and provides real-time test feedback at each phase so that problems may be fixed immediately. As the suggestions from each stage are incorporated into the following steps, a quality engineering strategy provides ongoing quality validation throughout a project. This guarantees effective localization of the problems in the individual components, eliminating flaws in the finished product. All the touchpoints that affect the quality of the project as a whole are connected by quality engineering, including ideation, documentation, architecture, implementation, and user experience.

Conclusion

Thanks to Agile and DevOps, the software delivery industry has developed over time and has almost undergone a revolution. The competition has changed from “Ship your Products Faster” to “Raise the Quality Bar” in every release due to widespread access to tools and technologies. Quality is, therefore, the next major thing. This pushed quality teams to use cutting-edge testing techniques, but more is needed now. Because when something can no longer match the necessities of the time, it is no longer considered modern. Since quality makes a difference, QA teams need help to keep up with the development teams’ pace. So how can organizations maintain their testing lead, especially when quality is on the line? A comprehensive Quality Engineering program should replace outdated methods of sparse and inconsistent Automated testing in Agile and DevOps.

About Maveric Systems

Starting in 2000, Maveric Systems is a niche, domain-led Banking Tech specialist partnering with global banks to solve business challenges through emerging technology. 3000+ tech experts use proven frameworks to empower our customers to navigate a rapidly changing environment, enabling sharper definitions of their goals and measures to achieve them.

Across retail, corporate & wealth management, Maveric accelerates digital transformation through native banking domain expertise, a customer-intimacy-led delivery model, and a vibrant leadership supported by a culture of ownership.

With centers of excellence for Data, Digital, Core Banking, and Quality Engineering, Maveric teams work in 15 countries with regional delivery capabilities in Bangalore, Chennai, Dubai, London, Poland, Riyadh, and Singapore.

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An Introduction to High-Grade Engineering Services

An Introduction to High-Grade Engineering Services

Today technology is continuously tested throughout the course of the development process. From a collection of system development techniques, products and services are tailored to the consumer’s needs. It becomes crucial to understand that quality engineering is a discipline to unite developers and testers. The underlying cultural mindsets must be in place for this to happen over time and adopt quality engineering as a solid organizational practice. Once the teams align on objectives, scope, and project boundaries, the approach to high-grade engineering services permeates cross-sectional and inter-departmental from the top down. In addition, a concrete change management framework is required to guarantee that the cultural change is smooth and holds good across the entire organization.

Gaining the competitive edge through seasoned High-Grade Engineering Services Implementation

Working with seasoned system integrator’s such as Maveric Systems, leading FIs to realize how modern-day business imperatives need comprehensive quality engineering solutions. Tailored for custom needs, the technology partners’ contribution improves release cycles, shortens QA deadlines, and brings a competitive edge to the client company through AI, DevOps, Automation, and other technological breakthroughs.

High-Grade Engineering Services

How are High-Grade Engineering Services the new differentiator for Banking Software Testing?

To support the next-gen banking software and solutions, leading FIs must rely on the best thought leadership to redesign the traditional QA constructs and create blueprints for emerging technologies. The consulting partner aims to bring an engineering mindset to QE on transitioning from QA to QE. The range of high-grade engineering services includes platforms, methodology, and mindset. The journey effectively touches upon multiple practice areas, such as service virtualization, performance engineering, and test data management.

Overall benefits of adopting High-Grade Engineering Services

  1. Drive higher quality standards and quickly go to market.
  2. End to End capability modernization from conceptualization to execution.
  3. Seamless Omnichannel experiences
  4. New revenue streams from performance testing, network testing, and prediction models based on AI & ML.
  5. Boosting output productivity and cost reductions with DevOps.

Conclusion

In the omnichannel world we now inhabit, businesses strive to transform digitally to create high-quality, long-lasting products. The conventional quality assurance paradigm is currently insufficient to accomplish this. To identify and analyze problems in real time, it is necessary to switch from a reactive quality assurance approach to a productive Quality Engineering (QE) approach. Businesses rapidly embrace digital transformation in today’s digital ecosystem to deliver customer-centric and quality-driven solutions. This suggests that businesses require best-in-class user experiences, quicker release cycle times, and cheaper costs. This has new implications for product testing and quality assurance.

About Maveric Systems

Starting in 2000, Maveric Systems is a niche, domain-led Banking Tech specialist partnering with global banks to solve business challenges through emerging technology. 3000+ tech experts use proven frameworks to empower our customers to navigate a rapidly changing environment, enabling sharper definitions of their goals and measures to achieve them.

Across retail, corporate & wealth management, Maveric Systems accelerates digital transformation through native banking domain expertise, a customer-intimacy-led delivery model, and a vibrant leadership supported by a culture of ownership.

With centers of excellence for Data, Digital, Core Banking, and Quality Engineering, Maveric Systems teams work in 15 countries with regional delivery capabilities in Bangalore, Chennai, Dubai, London, Poland, Riyadh, and Singapore.

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What Makes Quality Assurance Fundamental for Banking Frameworks?

What Makes Quality Assurance Fundamental for Banking Frameworks?

Since the advent of smartphones, the banking and financial industries have undergone a dramatic period of the digital revolution. Using mobile technology as a foundation, they’ve created streamlined banking services and perks for their customers. The Omnichannel experience made possible by the latest mobile technologies relies on digital assurance services for mobile apps that provide uninterrupted access to data, satisfied customers, and safe business-to-business transactions. Improved usability and a smoother digital experience for the consumer are at the heart of digital assurance solutions, a practice that a premier banking technology partner like Maveric has been engaging in for two decades.

The need for QA embedded into Banking Frameworks

A Gartner report suggests that technology spending in the banking and securities business will likely increase three-fold in 2023. For the banking sector to keep up with customer expectations, all digital banking applications must remain reliable and operate without a hitch. Banks deal with many transactions and sensitive client data constantly, so a solid digital assurance strategy is necessary around the clock. It’s not uncommon for banking apps to work hand in hand with other software, be it a game, an online store, a way to get around town, a way to order meals, etc. After all, a reliable digital quality assurance system must be in place to guarantee a smooth transaction between the customer and the payment gateway.

Critical Considerations for QA in Banking Test Environments

Improved quality and efficiency through rigorous testing: Delivering services and products that effectively fulfill client demands and preferences requires implementing well-thought-out quality assurance (QA) programs. Reducing post-production flaws is facilitated by well-optimized quality assurance methods and carefully crafted test management programs. By automating tests and using well-established tools, the stability of critically essential systems is undertaken while cutting expenses dramatically.

Overcoming Testing Obstacles: Testing is crucial to ensure financial apps function without hiccups. However, it also presents several difficulties, such as a complex banking application environment that requires regular maintenance and upgrades to keep up with the ever-shifting demands of the market and regulators. QA teams must ensure that everything works across various platforms and browsers, from Internet Explorer on Windows 8 and Surface to Safari on an iPhone 7.

Cost-effectively executing regression testing over an application’s lifecycle: is one of the stiffest testing challenges. In addition to ensuring that system integration is tested, and that test data is used appropriately, QA teams must follow all applicable data confidentiality regulations. An efficient test suite, test environment, and solid test data management are essential for conquering these obstacles. Data integrity can only be protected by information masking, and data identification can be simplified with the help of modern test data management technologies.

Conclusion

Finally, the way to extract maximal value from QA in banking is to focus on Test automation. Test automation is an excellent tool for ensuring the timely delivery of high-quality financial apps and services. Automated functional tests may be run regularly and often, resulting in faster development times and a higher chance of catching errors before they can cause serious problems. Create a long-term testing framework and roadmap, and most crucially, consolidate the management of your testing service providers, tools, and resources, to get the most out of automation.

About Maveric Systems

Starting in 2000, Maveric Systems is a niche, domain-led Banking Tech specialist partnering with global banks to solve business challenges through emerging technology. 3000+ tech experts use proven frameworks to empower our customers to navigate a rapidly changing environment, enabling sharper definitions of their goals and measures to achieve them.

Across retail, corporate & wealth management, Maveric accelerates digital transformation through native banking domain expertise, a customer-intimacy-led delivery model, and a vibrant leadership supported by a culture of ownership.

With centers of excellence for Data, Digital, Core Banking, and Quality Engineering, Maveric teams work in 15 countries with regional delivery capabilities in Bangalore, Chennai, Dubai, London, Poland, Riyadh, and Singapore.

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