Testing in the age of digital
This new paper, produced by Finextra in association with Iliad Solutions, looks at the challenges of testing for financial institutions engaged in payments transformation and the adoption of new agile development methodologies, and asks how organisations can reduce the cost of testing while at the same time making it more effective.
It is well understood that the constantly evolving regulatory landscape, fast-developing technology, an influx of innovative new entrants and an increasingly demanding customer base are all driving payments market participants to transform their businesses – and their technology – to remain relevant in the digital age.
But how well understood is the drag on payments technology transformation that the use of outdated testing methods can represent?
According to Capgemini, 31% of IT budgets are spent on testing, and this will rise to 40% over the next two years. Capgemini also finds that though test automation is vital for testing efficiency, just 29% of testing activities are automated today.
Why are financial institutions investing so heavily in new payment systems without also investing in systems able to test them effectively? And how can they target spend at the right types of automation to not only get the best out of the 40% of IT budgets that could go to testing, but also reduce that expenditure significantly?
This new paper explores the reasons for banks’ use of outmoded testing, the challenges this creates, and the options they have to move to more automated testing approaches.