Benefits of QA testing in Canadian digital banks

by Riley Claire Senior Software Test Engineer

The platform of digital banking has gained significance in the Canada region. Digital banking trends are shifting to accommodate competitive technologies and new customer expectations. Some of the top priorities amongst financial institutions include increased use of artificial intelligence, modernized payment technology, and highly personalized banking advice. Digital banking has made a constructive impact on the Canadian financial industry.

There are many institutions that are adopting even more advanced technologies with the capabilities to boost revenues, ensure top-notch security and improve customer experiences. The platform of QA testing allows banks to uncover anomalies and bugs that can compromise the security, stability, performance, and overall effectiveness the digital banking platforms. In this article, you will get to know the benefits of QA testing in Canadian digital banks.

Following are a few digital banking services availed to Canadian citizens:

•          New account opening
  
  
•       Money being transferred between accounts
  
  
•       Accounts can be accessed and balances can be checked
  
  
•       Applying for credit cards and payment of bills
  
  
•       Regular payments can be scheduled such as a car payment or mortgage.
  
  

Digital banking in Canada provides many more services apart from the above-mentioned services.

The following are the benefits of QA testing in Canadian Digital banks:

1. Gateway Integrations and Third-Party Apps: Gamified apps, e-commerce portals, and food delivery applications are some third-party integrations required by banking systems. For the smooth functioning of these third-party integrations with the core banking system, periodic functional and integration testing should be carried out accordingly. Irregular payment gateway errors and transaction failures can be reduced with these testing methods.

2. Financial systems are layered: Banks that lead the sector in innovation tend to have N-tier or multi-layered underlying architectures for their systems. These commonly consist of the database, application, and presentation layers of the banking software. All the banking transactions that contain API layers directly communicate with presentation and data layers and hence they require end-to-end QA testing.

3. AI is effectively implemented: When a banking application is being designed, ensure that users can easily navigate to the exact page for which they were looking. To ensure that apt and easy navigation is allowed by the app, usability testing is considered to be a viable option.

Banks’ digital transformation also involves AI adoption for teller automation, fraud prevention, and advanced data analytics.

4. Cyber-threat protection: Bank’s customers should be provided with safety and security which are also of paramount importance because crucial and sensitive customer data is dealt with on an everyday basis. Stringent efforts should be taken to ensure data protection from cyber-attacks. With advanced banking technologies, the vulnerability detection and programming abilities of hackers are also advancing simultaneously.

A report by Forbes states that banking and financial firms experience approximately 300 times more cyber-attacks when compared to other industries. For this purpose, banking systems are taken through Vulnerability Assessment and Penetration Testing (VAPT) as and when required.                            

5. Adopting cloud environment: Several large banking organizations have embraced and set up cloud infrastructure to promote increased cloud-only banking. For these organizations, the most popular configurations have been the hybrid cloud model with private and public cloud capabilities. For critical processes, the private cloud is utilized, while non-critical applications run on the public cloud.

Loss of data is also minimized during the migration process. Cloud app testing ensures that the cloud-based banking solutions are conducted correctly. Digital banking in Canada should be carried out pragmatically. 

Conclusion: If you are looking forward to implementing digital testing for your software development project, then do visit online a professionally acclaimed software testing services company that will provide you with tactical testing solutions along with professional testing advice that will hugely benefit your project-specific needs. 

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Created on Jul 19th 2023 07:33. Viewed 202 times.

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