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The COVD-19 pandemic gave a powerful impetus to the development of already existing and the emergence of new IT directions.
The world will never be the same again. Many changes have been so rapid that they have forced leaders of entire industries to rethink how they approach business radically. These changes also affected the traditionally conservative banking sector. Yet a couple of years ago, innovations made their way with difficulty, they encountered caution and mistrust at every step, and now banks are investing billions of dollars in developing entire IT ecosystems. Moreover, the leading positions in this digital banking universe are occupied by mobile applications.
At the same time, the highest security requirements for everything related to banks not only did not weaken but increased many times over. This, in turn, has led to a boom in outsourcing testing companies that comprehensively validate mobile banking applications before they hit the market.
Today, leading companies in the industry adhere to the rules and principles of the test banking apps guide — a set of practical guidelines that have become a kind of Bible for testing experts.
Considering the various types of QA testing, we should also pay attention to the main trends in mobile banking. After all, these aspects are inextricably linked and, in fact, are an organic continuation of each other.
In 2020, the largest multinational financial corporation Citigroup, whose capitalization is $2.2 trillion, has chosen the development of payments for the Internet trade as its strategy. This implies cooperation with existing trading platforms and the creation of new ones.
The largest trading platforms are so closely integrated with banking services that they are forced to turn into a kind of bank. Today, 70% of all payments Citigroup customers make in China go through Alibaba’s payment service.
Several instant messengers, in particular LINE and WeChat, have redesigned their applications to process Citigroup payments. In Singapore, Facebook Messenger took over these tasks.
Since the end of 2019, Citigroup has been partnering with Google Pay in the United States. Now anyone can open a virtual account from their smartphone, without the help of consultants and without leaving home.
Along with the monsters of the financial market, such leading IT companies as TestFort are expanding their software testing services for banking and fintech apps https://testfort.com/fintech-and-banking. They provide a corresponding multi-layered method for verifying the security and reliability of applications, which are, without exaggeration, the most important for any user. These are the areas of focus in such security studies.
These are just a few of the challenges a quality assurance company faces signing a contract to test a mobile banking application.
In a global sense, the creation and development of the mobile ecosystem of any bank co-occur in three directions, which are of equal importance:
Thus, outsourcing testing turns out to be not just one of the rapidly growing segments of the IT market but an industry leader who sets scientific and technological trends.
When creating a mobile banking application, developers have to balance paranoid security measures and the user’s desire for maximum, unhindered convenience. Meanwhile, publicly available free Wi-Fi at every turn and the frivolity of users who bravely open suspicious letters on their devices and take other similar actions are a bottomless source of threats.
Quality assurance company, which undertakes testing applications for mobile banking, has to bear in mind that according to the latest Symantec Internet Security Threat Report, the number of programs directly aimed at cracking protection in Android and macOS has grown by 77%.
Of course, only companies with extensive experience in such work and a staff of highly qualified experts can accept such challenges with honor. Today, users are not ready to put up with either an inconvenient interface or slow application performance. Banks, in turn, can no longer ignore the new requirements that time and their clients dictate to them. In these conditions, a proven quality assurance company becomes a vital link in any banking ecosystem. And this is one of the realities of our world — the world which has changed forever.
