All About Testing A Fintech Application

The Domain And The Application

Before understanding how one can test a fintech application, it is necessary to understand how the sector works so as to get detailed knowledge on how one can test and what all need to be tested.

Characteristics of a Fintech application:

  1. Multi-tier functionality: On a fintech application, thousands of concurrent sessions are being run at a particular instant hence it supports multi-tier functionality.
  2. Large-scale integration: A fintech application usually integrates with numerous other applications including third party vendors for transactions, user accounts, bill pay utility, etc.
  3. Multiple transactions are happening at an instant on a fintech application thus having a high rate of transactions per second.
  4. Huge transactions are being made every second and that needs to secure hence, security becomes a major characteristic in any fintech software.
  5. Huge data calls for the need of massive storage system.
  6. Data being highly confidential and important is equipped with disaster management.
  7. Day to day transactions’ track is kept in a recording section.
  8. Real time processing
  9. Batch processing
  10. Solid troubleshooting for customer issues.
  11. Various users from various locations access the same application hence, it should support multilingual users.
  12. Fast and secure transactions

How Testers See The Workflow Of A Basic Fintech Application?

Like any software testing process, fintech companies also follow the standard 7 step process of testing.

Basic Workflow of a FinTech Application

Requirement Gathering and Review

This is the initial phase in any fintech application involving the basic documentation of requirements. This documentation is done either as functional requirements gathering or as use cases.

Business Scenarios In Fintech Operations

On the basis of business requirements, QA engineers derive the business scenarios from the requirement documentation. The challenge here is to not miss any scenario and figuring out High Level and Low level scenarios. Usually high level scenarios are preferred over low level detailed test cases because it is easier for business analysts to review them.

Business Scenarios in FinTech Domain

Functional Testing

Functional testing of a fintech application is a major challenge in itself, that is worthy of its own independent post. Simple cross browser testing in fintech application is a major issue.

Database Testing

Testing the integrity of databases is as important as it is to test for functions since fintech applications involves complex transactions at database level. Testing for database in a fintech software includes:

  • Data loading testing
  • Database migration testing
  • Testing for various triggers
  • Testing for rules

Security Testing

Now we get to the biggest concern of a Fintech application, Security.

User Acceptance Testing

User acceptance testing comes as the final testing stage in every development cycle.

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