12 Steps to Foolproof Your Financial Application Testing: A Recap

There are few industries that have the same level of regulations that the finance domain must adhere to, and launching successful financial applications with little to no errors that are also compliant with these standards is a prominent challenge among banking and financial services software providers.

QASource recently presented a webinar titled, “Foolproof Your Financial Application Testing: Everything You Need to Know.” In this webinar, Anand Ramakrishnan, Director of QA at QASource, walks you through the importance of domain expertise, different types of financial testing, and how QASource has helped improve development, testing processes and quality for peer-to-peer lending and Forex & crypto trading applications.

Using our extensive experience in financial software testing for clients, we've come up with 12 steps to consider in order to foolproof your financial application testing. Use this as a checklist to improve your software testing process and outcomes and check out our on demand webinar below. 

1. Adopt a shift left approach - Involving quality engineering in the initial stages of your development will ensure complete test coverage of the features you're developing
2. Regulatory compliance testing - Help your organization meet and maintain local, national, and international government regulations through regulatory compliance testing and monitoring
3. Testing decimal places - Verify calculations up to n^th decimal place
4. Testing conversions - Verify that your calculations are implemented correctly and follow different countries' standards
5. Security testing - Test that transactions shared with 3rd party applications are secure and data is not lost or compromised
6. Failure recovery testing - Verify that your application can recover from failure or downtime without loss of data
7. Performance and stress testing - Test the behavior of your applications under different loads and measure their responses
8. Parallel automation of regression suite - Automate tests at the same time as your initial phase of new features and improvements
9. Group testing - Perform testing of your applications with multiple engineers owning a different feature
10. Memory leak testing - Test the loss of available memory when a program code fails to return memory that was picked up for short-term use
11. Data migration testing - Test procedures for transferring data from one stack to a new stack
12. Logs monitoring - Monitor and identify the root cause of any unexpected behavior, then document and share in-depth details

Throughout the webinar, QASource's financial software experts expand on these strategies, explaining how to implement each strategy in detail.  If you want to learn how to foolproof your financial software testing, watch our on demand webinar "Foolproof Your Financial Application Testing: Everything You Need to Know" below!