Have Financial Companies You Use Been Tested for Security Recently?

In today’s modern economy, a smaller, more nimble company can compete with larger businesses. They can not only compete, but sometimes overtake those bigger, slower, less advanced companies. The reason for this is how they use technology. Using technology to your advantage, can save time, money and the amount of staff required. This is no truer than in banking and finance. Think about the fact that there are now banks that are solely online and security for banks is utmost important. Now, more and more banks and financial services are going mobile.

Financial Security
Financial Security

What is required?

A robust website that is supported by a mobile application. This is no easy feat in finance. Extensive development and programming must be completed before any software testing and implementation. A company may choose to create their platform internally, or with the help of a development team. One thing that is standard, is the need for testing. There needs to be advanced simulations to find bugs. Data security has to be at the top of any companies list for a new website or application. If you are in finance and considering a new app, make sure your team is familiar with how to test a banking domain.

There are some critical things that need testing, before a new banking app goes live. First, a company will likely have to create a new platform. This will require extensive programming. That alone, will require a large amount of time dedicated to quality assurance. Things like functionality and security should be top priority.

  • Does it work smoothly and is it safe? What safeguards are in place to protect the business and client from privacy breaches. Can it process payments in real time?
  • Will the app integrate with other products and services (internally or external) Does the website time out after not being used?
  • Can you easily delete and add client and branch information?
  • What sort of error logs are being created for review? These are just a few of things that a company will have to consider for their new program.

No One Wants a Failing Grade

As you can see, it is not an easy feat to test a new banking platform. This really is just a small list of things that will come up in testing. When having your domain tested, there will likely be issues and bugs that you didn’t even consider. The best way to ensure compliance and optimal performance is having your banking domain regularly tested. In depth quality assurance is something every business should strive for. This is especially true in finance. There are ever-changing regulations and rules for the industry.  Use a top rated company like Performance Lab if you want the best. Internal testing is useful, but you may not get the expertise of using a dedicated testing company.

The last thing a company wants to do is spend millions on development, PR and restructuring only to have it crash, operate slowly or get hacked immediately. Take the time to test and make sure everything works as planned, then test again. The next time you use a mobile banking app, think about what went on behind the scenes to make it happen. If it works perfectly, the bank did a good job. If you have issues, make a phone call and tell them to test their app properly.