How To Build a Fintech App That Will Pass Certification
This article analyzes the most crucial rules to follow when developing an application for the banking and finance industry.
The world of testing services is vast. Specific markets are massive and likely to keep growing. For example, the software testing market is on track to be valued at $70 billion by 2030, at a compound annual growth rate of 6% since 2022. IT, telecom, manufacturing, BFSI, transportation, healthcare, and retail are sectors that require these testing services.
Despite these booming markets, traditional testing models have not been yielding the best results for companies lately. Their testing needs are often unmet, and that becomes a cause for more significant issues. It’s important to remember that testing goes beyond software. Companies could have a diverse range of testing requirements.
In today’s world, businesses must operate at breakneck speeds to survive. They also have to optimize their expenditures like never before. If they fail to do so, they are likely to get left behind in a saturated and highly competitive market. Optimizing their testing by outsourcing testing services could be a key differentiator and provide a competitive advantage.
A good TaaS starting point for organizations is to understand what it is, how it’s different from traditional quality assurance (QA) services, its main areas of coverage, key benefits, how a TaaS team is structured, and what the induction and integration processes are when working with a TaaS provider.
Most organizations around the world require robust testing to ensure that their products and services are in top condition. Some companies do their testing in-house. Others hire the services of external providers. TaaS falls in the second category, where an organization recruits external support for its testing requirements and activities.
The crosshairs of TaaS could target and tackle software, hardware, products, services, isolated components within those offerings, or some combination of them all. Organizations can outsource small segments of their testing requirements or the entirety of it. It all depends on a particular business’s specific needs, budgets, and objectives.
There are many reasons why a company might decide to outsource its testing services. Some common causes include the requirement for advanced testing capabilities that in-house teams may lack, a need to integrate automated testing to tackle heavy workloads, and saving or optimizing key resources such as personnel, budgets, time, and infrastructure.
It’s no secret that traditional QA services have limitations. QA services have helped endless numbers of companies for decades. However, in recent times, its bottlenecks and inefficiencies have been magnified and put under the spotlight. Traditional QA services and teams are gradually becoming unfashionable. And there are clear reasons as to why that’s happening.
Technology is evolving so rapidly that any business that can’t perform at the highest degrees of speed and efficiency will be left behind. Suboptimal testing will have a negative influence on companies. Staggered processes, fractured testing infrastructure, and a lack of testing strategy are non-options for companies.
The common challenges that QA teams face include poor planning, deadline rushes, suboptimal in-house tools and testing infrastructure, and a lack of cohesive teamwork when tackling pressing testing challenges. Traditional QA services are also typically not amicable to agile scaling, a feature that all modern businesses are beginning to prioritize.
In some ways, traditional QA becomes one component among many in TaaS. TaaS is inherently more holistic and prioritizes efficiency, collaboration, and a coordinated approach to testing. It also embraces AI-powered automation and technology like robotics. These technologies are an X factor when employed for testing purposes and are supported by an expert-designed strategy.
TaaS covers a broad range of testing activities.
Functional testing, which ensures that specific software or service features are functioning as designed, is a key area of coverage.
Integration testing is another main focus of TaaS. Integration testing is an extension of unit testing and involves multiple software modules being tested together.
Application Program Interface (API) testing involves scanning the capabilities of application intermediaries that allow diverse software to communicate and collaborate.
TaaS also covers performance, load, and stress testing to evaluate a system’s durability under specific volumes of workloads.
TaaS addresses security vulnerabilities by offering penetration testing – one of the most important security measures companies must take. A penetration test is a simulated breach that provides a direct view of a system’s reaction during a real-world attack. Penetration testing is a proactive way for companies to save millions.
Automation testing and the development of application automation frameworks are integral features of TaaS. By performing automation tests, TaaS providers save companies a lot of time and resources because they won’t have to perform too many similar tests in the future.
The best TaaS providers will provide test plans, document test cases, support business users in user acceptance testing (UAT) and factory acceptance testing (FAT) phases, mediate user experience feedback, update functional documentation, and design training plans for testing teams. These are just a few highlights. TaaS offers much more.
The first key benefit for organizations outsourcing holistic testing services is reduced operational costs. Managing an in-house QA team and additional testing expenses typically adds to significant amounts. By hiring TaaS providers, companies can reduce their overall management and operational costs and, by extension, increase gross profit margins.
A TaaS provider will work according to a set of agreed quality standards framed in collaboration with their client. These quality standards will act as a guiding light and ensure that the quality and performance within an organization are continuously being assessed and improved upon. Establishing a well-defined set of quality standards is of utmost importance.
The last thing a business wants is to be trapped in a particular service. This could mean paying significantly more than what they use or not having enough testing bandwidth to fulfill their requirements at a given time. TaaS directly acknowledges and addresses this problem. It provides flexibility and scalability, which are powerful optimizers.
With TaaS, organizations can access and implement on-demand upscaling and downscaling. TaaS will empower companies and give them the confidence to make sharp pivots and quick decisions based on short-term and medium-term needs. This means that organizations can have a robust long-term plan, innovate, and deviate if necessary.
TaaS providers like Rinf.tech deploy Service Delivery Managers to oversee testing activities for organizations. These managers are responsible for preserving and maintaining the knowledge in a testing team. Having a dedicated expert to lead testing activities for teams within an organization at an affordable price is something traditional QA doesn’t often feature.
TaaS also enables companies to seamlessly onboard new engineers to fortify and enhance their testing capabilities. A deep overall understanding of testing projects, tasks, and challenges powers the speed and ease of integrating new professionals into existing teams. TaaS experts will also ensure that incoming engineers match the culture profile of existing teams.
In the past, the quality of in-house QA teams was heavily reliant on a company’s overall culture and efficiency. Companies lacking the time and resources to prioritize testing often fail to communicate testing requirements to their QA teams. This poor communication resulted in testing inefficiencies, bottlenecks, and risks.
TaaS providers untangle those knots of the past and nurture a testing culture that emphasizes efficient communication. TaaS can also help companies identify bottlenecks and other suboptimal elements, such as poor tools or processes within a certain infrastructure, and fix or replace these problems with better options.
As we’ve established, TaaS isn’t an isolated service. It’s not about providing temporary patches to fix problems. It’s about creating a vibrant and organic testing ecosystem that doesn’t neglect a single part of the process. That’s why one of the top TaaS benefits is consistent, high-quality monitoring and evaluation of teams, processes, and infrastructure.
TaaS providers will relentlessly monitor team performance, and design detailed action plans to ensure that speed, efficiency, and quality are always at their best. Monitoring reports and evaluations aren’t just for the eyes of TaaS providers; the insights gathered from monitoring are used to expand the knowledge of various team members and enhance their capabilities.
Rinf.tech provides an unparalleled service in the form of free training. Our teams design training programs for specific frameworks and testing techniques that an organization might require. These training programs will transform hard-working and high-potential teams into incredibly proficient testing professionals who can significantly impact their company.
This training also supports selecting suitable testing solutions and tackling complex tasks per best practices. The one thing that TaaS providers will ensure that businesses internalize is that testing that lacks nuance and strategy is a thing of the past. The best testing practices are holistic and operate in complete alliance with overall business needs and goals.
Robots are a major USP of TaaS. Robots were once just shiny new toys that seemed like a small glimpse into what the future could offer. Today, robots are capable of immense and advanced tasks, including testing. There’s no better example of that than MATT ROBOT, a product of Adapta Robotics, the scale-up that span off rinf.tech’s Robotics Division.
MATT is a test automation robot that can be used across industries. It’s highly adaptable, with numerous options for size and integrative features. MATT can be used for software and hardware, performance, calibration, mechanical interaction, and physical input testing. MATT can augment any kind of test automation lab or environment.
MATT use cases are diverse. MATT can test and interact with small devices like a smartwatch and bulkier devices like washing machines. Considering how many smart devices are popping up today, robots like MATT will continue making a significant difference to companies by enhancing their products and services.
The definition and benefits of TaaS might be easy to understand. However, it’s common for companies to be unsure about what a TaaS team structure looks like and how its induction plays out. Here’s a brief breakdown of what happens when a company hires the services of an expert TaaS provider like rinf.tech.
At rinf.tech, we will allocate a highly experienced Service Delivery Manager to oversee the entire project and the team’s performance. This professional typically has rich experience and demonstrated success as a QA lead. The primary job of the Service Delivery Manager is to ensure that the benefits of TaaS are reaped to the fullest extent.
A TaaS provider will put all required QA systems in place, both manual and automated. Rinf Tech provides the option of add-on services like support from their DevOps team or deployment of an expert business analyst. This is wholly dependent on the existing resources of a particular client and what kind of support they seek.
The International Software Testing Qualifications Board (ISTQB) is a renowned software certification board. ISTQB’s standards are globally acknowledged and adhered to. But a lot of in-house teams aren’t familiar with ISTQB’s standards. Therefore, Rinf Tech ensures that its experts provide their teams with knowledge about the details and nuances of ISTQB-related content.
Testing can become a cumbersome, expensive, and disorganized process when done in isolation and without experts’ support. Working with TaaS experts like Rinf Tech is highly recommended because it provides intricate and specialized support for an organization’s testing needs. It’s world-class testing quality alloyed with highly personalized service.
TaaS is a newer model of outsourced testing that is making a major difference for many companies worldwide. Traditional testing models have struggled to keep up with contemporary demands, making holistic models like TaaS a more viable long-term solution for businesses.
The major benefits of TaaS include reduced operational costs, scalability, easy inductions of testing teams and specialists, clear communication, organic and active monitoring and evaluation practices, customized training, and advanced AI-powered robots that can perform complex tasks with little to no human intervention.
TaaS experts like rinf.tech offer service quality that can match offerings from multinational giants with the added benefit of intricate customization. The overarching goals and objectives of an organization are the most important factors. Our Team will ensure that those objectives are understood, internalized into testing ecosystems, and achieved with high efficiency.
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