The Technological Evolution that has Impacted Banking and Financial Services

At Softtek, testing professionals anticipate unforeseen complex situations, while focusing on finding an immediate solution, with the goal of maximizing end user experience.

The strong and continuous disruption generated by technology, enables great growth opportunities for organizations, opening the way for competition through a world focused on digital. Every company, process, employee, and customer, interact through systems and applications that continually improve productivity and overall experience.

Industries seek to adopt agile models that continually support the development of new products and services, which are increasingly created/dependent entirely on digital environments. This translates into highly responsive, intelligent and interactive applications, that become the main channel for customers, suppliers, and employees to interact with the brand and company.

The Banking and Financial services industry is more aware of what accelerated changes and digitalization mean, largely because of the level of competition the sector faces in the digital world. A mishap or defect in the applications or systems will without a doubt have a great impact on the business, either in terms of productivity and costs, or poor user experience for customers. This results in the painful reality that users change their purchasing decisions and express it on social networks, hurting the brand and sales.

This, coupled with the trend to incorporate the use of agile methodologies and DevOps (Continuous Integration, Continuous Delivery), makes the role of Testing and Quality Assurance processes a centerpiece for digital transformation models in any organization.

The impact is further maximized in industries such as Banking: in addition to properly ensuring functional requirements, they seek to achieve the highest quality in application performance and systems in controlled and stressed environments, guaranteeing information security for the company and the users, while complying with highly-complex and demanding regulatory environments.

The speed of change demands rapid development of new applications and intensive continuous improvement processes in addition to existing ones, which requires the acceleration of automated Testing and QA models and, more recently, integrating intelligent models based on Artificial Intelligence (AI).

To develop integrated and automated solutions (supported by digital services and agile methodologies), for the Banking industry, it’s crucial to have functional and technical expertise aligned with a deep knowledge of the business. These solutions should focus on accelerating the maturity and efficiency of the testing processes, achieving increased security and productivity with the help of AI.

In this environment, Automated Intelligence can greatly increase test coverage and, supported by Agile methodologies and DevOps, can boost productivity in a disruptive way, minimizing the risk of failures in the applications produced by human errors or critical stress situations.

New frontiers have been crossed in the complexity of innovative technologies and the amount of time and effort that require new application functionalities and its testing. To overcome this, Softtek is pushing the boundaries with the transition from traditional methods to an Automated Intelligence

solution, based on the three stages of the testing cycle: generation of requirements, generation of test scenarios and creation of test cases and its automated steps. This makes the cycle of life for the development of applications much more efficient, allowing the QA and Testing professionals to identify more complex situations and possible defects in an agile way, with a critical focus on the business.

Challenging the status quo is in the DNA of our Testing and QA teams. Added to Softtek’s 360°solution model with Agile methodologies and DevOps, we provide efficient application processes and guarantee product quality under a highly automated framework. Our customers (and their customers) enjoy an improved experience, through significantly reduced costs, time to market and reduced errors and defects of applications.

For more information about specific banking and financial service solutions, click here