FinTech Software Testing Services

Ensures the correct operation of the application functions. Bank application testing includes checking the correctness of transactions, authentication, updating balances, and loan settlements.

This type of software testing for financial services ensures that the functionality meets the requirements of the system and users and avoids serious errors that can cause financial losses.

We conduct testing carefully to identify defects that could harm the user experience and stability of the system.

This is testing of finance, namely those aspects that do not relate to the functionality of the system: performance, security, reliability, usability. We analyze how the system behaves under load and monitor response times, scalability, and reliability under high loads.

• Reliability testing: ensuring the stable operation of the application without sudden failures or unpredictable errors.
• Efficiency testing: determining how optimally the software uses resources, including memory and processor power. This eliminates delays in system operation.
• Load testing: assessing the ability of the software to operate under significant pressure by simulating simultaneous access to the system by numerous users.

Non-functional tests allow you to identify possible bottlenecks and ensure stable operation of the solution in various conditions.

Due to the extreme sensitivity of financial information, security assurance is one of the most critical stages in the software development process. Financial applications are tempting targets for cybercriminals, making this area a priority for testing.

Software testing for financial services firms includes checking protection against SQL injection, “man-in-the-middle” attacks, data leakage, data encryption, transaction security, and protection against hacking.

By simulating a variety of threats, Tech Assurance testers verify that the application meets security requirements and protects against possible data leaks or fraud.

Financial applications must meet various regulatory requirements, such as the Payment Card Industry Data Security Standard (PCI DSS) for credit card transaction processing or Sarbanes-Oxley Act (SOX) compliance for accounting operations.

Finance application testing conformance ensures that the application complies with these strict regulations, which may include:

• Personal data secured through laws such as the General Data Protection Regulation (GDPR) or the California Consumer Privacy Act (CCPA);
• Financial information standards: Generally accepted accounting principles (GAAP), International Financial Reporting Standards (IFRS);
• Anti-Money Laundering (AML) protocols;
• Transaction record retention policies.

Such software testing for financial services is necessary to prevent legal fines and maintain the trust of both customers and regulators.

We use individual audit systems and tools to track changes in regulations to ensure compliance.

Ensuring that the system performs quickly and reliably, even under heavy load, is critical for payment systems and trading platforms. During banking application testing, we evaluate their performance under different user loads and large transaction volumes.

In addition, during software testing in financial services, we check the functioning of different battery levels, types, and models of devices.

The team tests the performance of the application in conditions of a slow Internet connection and observes its operation during transactions and fluctuations in Internet speed. The test scenarios ensure that financial systems are stable even during peak loads, allowing companies to avoid losses caused by downtime or slow transaction processing.

APIs are a key element for integration with other financial systems, banks, and third-party services. During banking software testing, we check the correctness of the information provided, the adequacy of response time, and the security of the API.

Financial APIs work with extremely sensitive data, so security is an important element of their operation. They increase the number of access points, which creates additional risks for cyberattacks and increases vulnerability. Managing security when integrating multiple APIs can be a real challenge for banking testing.

Best practices for securing APIs include:

• adherence to standards, such as Financial-grade APIs (FAPI);
• providing access only to the necessary data;
• use of multifactor authentication and strong passwords;
• monitoring usage and detecting anomalies;
• training users to detect threats and protect their data.

Ongoing financial testing and vulnerability assessments help to identify and eliminate shortcomings in a timely manner. Financial APIs must comply with regulations such as GDPR, CCPA, or Payment Services Directive (PSD2), depending on the jurisdiction.

In FinTech projects, most users interact with services through mobile applications. That is why it is crucial to test mobile platforms on different devices and operating systems. During financial application testing, we check the usability, stability, security, integration with payment systems, and functionality of mobile and web applications. These applications provide a wide range of services, including payment, money transfer, lending, investment, and financial management.

As they work with sensitive information, any errors or vulnerabilities can lead to serious costs or data breaches. Therefore, financial application testing aims to ensure reliable performance, security, and a sufficient level of user satisfaction.

This can be achieved through a variety of banking application testing methods, such as functional, security, performance, and UI/UX (manual or automated).

Banking application testing involves evaluating the user interface and user engagement to ensure that it is user-friendly and easy to navigate. It is necessary to identify possible problems that may negatively affect the user experience. This includes analyzing the layout of the app, the navigation process and testing specific features such as font size and color contrast.

Usability Testing is mandatory to ensure that users can easily perform financial transactions such as payments, viewing transaction history, investments, etc. We focus on checking that the interface is clear to the target users and that complex processes are simplified.

Identifying high-risk defects at the early stages of development can save a lot of money later on. Early testing of a personal banking application helps to identify vulnerabilities in transfer transactions, which helps to avoid possible losses and maintain a positive image.

As FinTech projects have high security and reliability requirements, testing is often conducted with a focus on the most critical functions and risks. For example, special attention is paid to transaction verification, personal data protection, authentication, and APIs.

Thus, conducting financial services testing in accordance with the possible risks and impact of their functions allows you to focus resources on those aspects that can significantly affect the stability of work and customer satisfaction.

Automated software testing of banking applications is an excellent choice for routine tasks and regression testing when you need to quickly check whether existing functions work after changes have been made.

For example, on a banking platform, manual online banking tests are used to test new elements (adding a new payment method), while automated testing covers regression tests for existing features.

Although automation can significantly improve the efficiency and coverage of test processes, it is important to combine automated and manual testing for financial technology. Some aspects, such as usability and complex security assessments, require a deeper understanding that only manual tests can provide.

Tech Assurance specialists check routine operations that are frequently changed or repeated using automation testing.