Is It Essential for Lenders and Banks to Embrace Quality Engineering to Achieve Speed and Agility?

Why is good quality engineering important in financial services? Lenders, banks, and insurance companies are increasingly replacing legacy systems and adopting improved technologies across the enterprise, which requires the highest quality engineering and software testing capabilities. Unsurprisingly, their development initiatives are centered on the need to improve efficiencies, add new functionality, and reduce operating costs. It may offer, develop, and bring products to market or incrementally replace existing platforms and solutions while minimizing any business disruption during major or minor release cycles. Quality Engineering must be part of any effective change program to proactively prevent software errors, misfires, malfunctions, and defects that can cause outages, negative client impacts, and regulatory fines. Today’s business demands are numerous and complicated. What do lenders and banks want? 

1. A faster time-to-market, including a shorter turnaround time for application rollouts and updates that can keep up with rapidly changing market trends.
2. To reduce costs, as they face increasing pressure to reduce the cost of IT projects and seek intelligent alternatives to reduce project costs.
3. To keep up with technological advancements and the demands of integrated applications that support multiple operating systems and devices.
4. Application stability, which can significantly facilitate an increase in clients and support online exposure demands with zero application downtime.

This is where Quality Engineering enters the picture! As stated, “Assurance neither improves nor guarantees quality. It is too late to assure. Quality, good or bad, is already present in the product. To truly meet your customers’ expectations, you must implement a quality engineering approach that instills quality at every stage of the SDLC”. Given the high risk of financial services, quality is a business-critical requirement. As a result, lenders and bankers must adopt a quality-first approach in their software development lifecycle. Quality Engineering entails QE involvement from the start of the SDLC so that quality-related processes run concurrently with development until the final release. This is undoubtedly impossible to accomplish manually, necessitating test automation. The shift-left strategy refers to moving QE to the early stages. However, shifting to the left is no longer sufficient in today’s constantly changing customer demands and volatile financial markets. Quality should be omnipresent, necessitating a shift-everywhere QE strategy. A shift everywhere strategy and a Quality Engineering approach result in an application that scores highly on all key parameters such as functionality, security, reliability, and performance, among others. As businesses look to automate more of their business operations through technology, a well-designed QE plan should include an in-depth and broad-based performance testing plan that identifies trouble spots, recommends solutions that can then be properly implemented, and provides continuous testing. With a shorter time to market, enterprises now have less time to test.  What’s next? Tavant – An Absolute Commitment to Quality Engineering Tavant’s QE approach focuses on testing and combines industry best practices with our own methodologies and powerful proprietary tools to guide clients through an ever-changing development environment. Tavant’s Quality Engineering (QE) programs aim to improve the quality of software development and incremental release cycles while avoiding serious technology failures that could have a negative business and brand impact. Our QE experts use a quality management process to ensure that a product/service/platform meets all required specifications as well as all desired operational functionality.  Our engineers adhere to a robust process-driven strategy that facilitates and defines specific design goals concerning product/platform/system development roadmaps. Our goal is to track and resolve all bugs, blockers, coding errors, and other issues that may arise and should be addressed before they have a negative business impact.  Tavant’s Quality Engineering services are designed to address such challenges throughout the software development and delivery lifecycle. We use the CI/CD approach to ensure faster and higher-quality testing.  Rather than relying solely on DevOps for iterative QE, Tavant advises customers on how to establish a dedicated QE strategy and focused action plan that seeks to mitigate and/or eliminate identified risks, enable compliance, and minimize costs. Financial quality engineering services and banks have used QE to test technology deployments for bugs and defects and measure them against internal business and security standards and regulatory mandates through rigorous and thorough performance testing. At the same time, this may satisfy many.  Tavant fintech quality engineering services works differently and strives for excellence rather than just meeting minimum standards. We believe speed and accuracy go hand in hand. We appreciate thoroughness, accuracy, and identifying and resolving problems through a well-planned, phased, and executed testing and solution-driven schedule that includes a rigorous back-end testing component. We reimagine software testing for the age of disruption with a ready-to-use test automation platform and a suite of tools and accelerators. Through high-velocity automation, our team helps you spend less time on routine tasks while gaining more insights from data for greater innovation. We elevate testing to the next level by implementing quality engineering throughout the entire lifecycle, from code quality and pipeline quality gates to performance, resiliency, post-production coverage feedback, and everything in between. For more information, visit here or reach out to us at [email protected].