Banks are deploying more advanced technologies and online systems, including internet banking systems, mobile banking and payment systems, online trading platforms etc. to meet the needs of their customers. This adoption of newer platforms and technologies is creating a fundamental shift in the magnitude and intensity of technology risk the banks are getting exposed to. There is an emerging need to manage the system risk through a robust risk management and testing program. However, our experience suggests that the testing practices adopted by banks have not reached the required levels of maturity. In fact, inadequate or sub-optimal testing is one of the key reasons why many systems and risk strategies are failing. In our experience, adopting best practices for systems’ testing can increase the testing quality and yield up to 30%.
This whitepaper highlights the testing practices Axtria has developed and adopted while working with global banks, which have served our clients well. Each of these is an outcome of the real-life challenge faced in the projects.