Top 5 factors to consider while testing Financial Applications

A report by Research and Markets estimates that the global Financial Services Application Market will clock $103.66 billion by 2019, at a CAGR of 9.1% during the forecast period 2014-2019. Today the strength of a country is estimated by the robustness of its economy and allied financial systems. Ensuring security and accessibility of the financial applications is critical, which has hiked the significance of Financial Applications Testing and Quality Assurance – Security testing, Functional testing, Load/Performance testing, and more.
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The opinions expressed in this blog are author's and don't necessarily represent Gallop's positions, strategies or opinions.

How Testing can save Financial Applications from the next HACK

How Testing can save Financial Applications from the next HACK

On October 20, 2016, The Economic Times (Indian business daily) reported that ‘3.2 million debit cards may have been compromised in India’ as a result of a security breach. The breach allegedly originated in Hitachi Payment Services that enabled fraudsters to steal information and consequently funds. Startling incidents like these further establish the need for testing in the Financial/Banking sector.
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The opinions expressed in this blog are author's and don't necessarily represent Gallop's positions, strategies or opinions.

Testing Banking & Financial Applications: Challenges, Trends, & Best Practices

Testing Banking & Financial Applications: Challenges, Trends, & Best Practices

“The most significant trend of 2016 will be the ‘platformification’ of banking” ~ Cornerstone Advisors

Banking and Financial Services industry has been a forerunner in adapting and scaling up to the changes as and when they happen in the IT world. It is, thus, no surprise that Digital Transformation has been indicated by the upcoming trends and digital initiatives like Mobile Wallets, P2P transfers, Ping Pay, Omni Channel Banking etc. to be is the future of BFSI Industry. As per Juniper Research, by 2017, more than 1B mobile subscribers (15% of global mobile subscribers) will be using mobile banking.
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The opinions expressed in this blog are author's and don't necessarily represent Gallop's positions, strategies or opinions.

Avoid Financial Glitches with well-tested Integrated Trading Platforms

integrated-trading-platforms

Integrated Trading Platforms (ITPs), equipped with advanced trading tools, provide opportunities to trade seamlessly in equities, currencies & commodities. These are multi-asset trading platforms which are trusted to provide reliable performance 24×7. Given the tremendous volume of concurrent transactions which are executed through these platforms, it is imperative that the system is stable & secure at its peak performance and is compatible with the user-device’s  operating system and network carrier combinations.
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The opinions expressed in this blog are author's and don't necessarily represent Gallop's positions, strategies or opinions.

Testing Policy Administration Systems

testing-policy-administration-systems

Insurance is a policy guided, product specific, service oriented and inclusive vertical. Hence the business processes consolidate frequent updates, interactions, transactions and communication among groups of stakeholders ranging from agents, customers, marketing professionals and IT teams.

The increasing sophistication of the vertical, coupled with its reliance on IT has given rise to different versions of PASs (Policy Administration Systems). A PAS is an application which enables an insurer to manage End-to-End life cycle of insurance policies, from issuance of Quote till renewal, suspension or lapse of the policy. Validation of PAS includes Policy holder’s details like address, age and additional policy holder’s eligibility rules, verification of additional factors according to LOBs (Line of Business) like Property & Casualty, Catastrophe Coverage and Speciality Lines Policies. Its key function is to perform the complete policy life cycle, from inactive state till Renewal
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The opinions expressed in this blog are author's and don't necessarily represent Gallop's positions, strategies or opinions.