With the scale of innovations happening in the tech world, new offerings from FinTechs have never been more exciting. Blockchain, data science, machine learning, artificial intelligence, and a host of other technologies have catapulted the way the financial solutions and services are offered to customers. Being technology players, FinTechs have been at the forefront of adapting such technologies for the better. Chatbots, AML, KYC, cross-border payments, security, financial reporting etc., are some areas where FinTechs have seen huge traction. Banks too are now realizing the importance of being at the forefront of technology with the risk of becoming irrelevant.
A strong software engineering organization is the fulcrum that enables the execution of technological solutions with top quality and also with a super-quick time to market frequency to stay competitive. Quality assurance must not be viewed just as a gatekeeper but rather an integral process that should be built into the overall engineering process. Also, ‘quality’ must include within its umbrella anything that, if not right, may drive the users away. Functional stability, product reliability, availability, security, seamless integrations, usability are some of the key quality pointers that need to be considered for an effective test strategy for FinTechs and financial services organizations. Hyper-Testing as a strategy here focuses on the technology and processes to enable quality assurance to be relevant and at the same time scalable to be at pace with the technology highway and help achieve organizational quality objectives.
Hyper-Testing is an agile and unified approach towards designing and executing a test strategy that covers end-to-end testing of all application layers (Functional, UI, API, Mobile, etc.) as well as the non-functional requirements (security, performance, load, availability, etc.) by leveraging the best of breed tools (cloud, open source, etc.), resulting in lower TCO and higher ROI for organizations.
Hyper-Testing is especially relevant for FinTechs and financial services organizations where the testing challenges include faster time to market, frequent release cycles, omni-channel testing, cloud based testing, testing in on-premise deployments, functional and non-functional quality of the product. The Aspire Framework for Test Automation (AFTA 2.0) adds the technological edge to the Hyper-Testing strategy and precisely addresses these challenges.
Aspire’s Hyper-Testing strategy has successfully helped FinTechs in payments, fraud management, robot advisory, loan origination systems, chatbots etc and also for financial services institutions in internet banking, open banking APIs, wealth management solutions, relationship management solutions, mobile banking etc.
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- Hyper Testing for FinTechs and Financial Services Organizations - October 23, 2018