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How do testers see the workflow of a basic FinTech application?

Can anyone please tell me how do testers see the workflow of a basic FinTech application.

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Posted 2 months ago

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Like any software testing process, fintech companies also follow the standard 7 step process of testing. let me just brief you and not go into detail on generic process right now, just special considerations related to Fintech organizations.

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. This requirement gathering is followed by requirements review where the QA engineers cross check if any of the business workflows is violated.

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.

Knowledge of the business domain plays a major role while preparing business scenarios and fintech test cases. In a single bank with multiple products around insurance, banking, and investment, there are multiple different business scenarios, as shown in the image below. For example: A simple use case of opening a Fixed Deposit account in a bank will have various business workflows like opening an account, depositing the amount, transfers, monitoring, interests, etc.

Hence testing every possible business scenario becomes important.

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. The process of functional testing of the fintech application is very much different from the usual software testing scenarios as it involves monetary transactions and sensitive data hence every possible test case should be taken into consideration. It becomes important for the testers to test for interactions among different components and at the same time anticipate the risks in any unknown territory like for example in a new cloud deployment or a new on-premise deployment.

Multiplatform Testing: As fintechs run on multiple different environments hence it becomes important for them to test for cross browser compatibility. As there may be some systems that can have components that may be spanning over some other OSes still there may arise the need to test the whole system again. Be it any OS like Unix, Linux, Windows, Mac, android and iOS mobile apps, you need to ensure compatibility for all.

You can use LambdaTest to ensure cross browser compatibility of your fintech application.

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:

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

Well, if you talk about creating a realistic dataset in any e-commerce website, it’s quite simple to copy the database but in case of fintech applications it’s a whole new game! You can not just copy-paste the dataset as it is highly confidential and security comes as a major concern. Moreover, there are so many dependencies in a fintech application that creating realistic data requires cross-checking and therefore it limits the system. The only way that comes to rescue is to create specialized robots which can simulate account creation with all the detailed steps.

Security Testing Now we get to the biggest concern of a Fintech application, Security. Since fintech applications deals with money transfers, sensitive financial data, third party payment gateways, etc and are highly prone to hackers stealing sensitive data so Security testing in a fintech domain holds an enormous value.

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