Key Features of Banking Applications That Require Testing

Banking Application Testing
Key Features of Banking Applications That Require Testing

Table of Contents

  • KiwiQAKiwiQA
  • November 21, 2023
  • Tags:best banking app features, key features of banking applications

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Table of Contents

Today, we use apps for everything, and that includes apps for banking. It is so easy for customers to use an app that brings the bank closer to them. However, the technology that is focused on creating these banking apps needs to be tested as soon as it is developed. A banking app development company should also be a good application testing company to mitigate the challenges that arise from the use of banking applications.

There are a number of issues and challenges that developers face when they use banking applications. The most prevalent challenges that need to be addressed are security and cyber threat concerns. Applications should be focused on improving usability and interactive nature so that the users are highly satisfied.

The testing team needs to check the vulnerabilities of the application to ensure that the application has high-performance standards. For this, the team has to design test cases for banking applications in software testing that are aligned with accurate testing goals.

1. Security Features

When we start knowing about the best banking app features that need testing, security provisions and features are the most important.

1.1 Authentication and Authorization

  • Testing for multi-factor authentication processes

The authentication and authorization process of a banking application is what gives the user access to its services. Every application banking needs to be tested for its authentication and authorization process to ensure that it is high-speed and responsive.

  • Ensuring proper role-based access controls

The users of banking applications would want access to different parts of the app and access control. A proper access control system in the application ensures that the application is secure and personalized. The testing team needs to design test cases to put proper role-based access controls.

1.2 Data Encryption

  • Verifying encryption of sensitive data in transit and at rest

The applications of banking also need to be tested for security of data. The security provisions need to ensure that the sensitive data set from the customers is protected and easily transmitted to the banking partner through secure channels. The whole framework for encryption and exchange of information needs to be tested for vulnerabilities.

  • Ensuring compliance with industry standards (e.g., PCI DSS)

The development team needs to ensure that the development process and its output are streamlined according to industry standards and regulations. Regulations like PCI DSS need to be adhered to during the development and banking app testing process.

Also Read: Strategies to Enhance Core Banking Application Testing System

2. Transaction Management

2.1 Transaction Integrity

  • Ensuring accuracy and completeness of transactions

It is important to ensure that the transactions that happen on the application are well-protected and secure. The banking application will be used the most for day-to-day transactions and keeping track of the transactions. The testing team needs to test the transaction gateways and processes to ensure that everything is secure.

  • Testing for rollback features in case of transaction failure

The testing team and development team also need to focus on developing rollback features and notification systems in case of transaction failure. The user should be reassured that his money is recovered and there is no loss. The rollback feature should respond quickly. These are also some of the key features of banking applications.

2.2 Performance Under Load

  • Stress testing for handling high-volume transactions

The sample banking application should also be put through stress tests so that the framework is tested for its stress factors and vulnerabilities. A banking application should be ready to handle massive transactions and a huge load of users at peak hours. With its popularity, the application will handle huge traffic loads. The testing team needs to ensure that the application runs in its ideal way, even under extreme loads.

  • Testing scalability and response times

The testing team also needs to check the scalability of the application so that it can be scaled up with its traffic without any lags. Even under extreme load or any fluctuation in load, the application should not show performance lags or glitches. All the banking application features should work in their planned way, even when the application is scaled up or down.

3. Compliance and Reporting

3.1 Regulatory Compliance

  • Testing for adherence to local and international banking regulations

The impact that banking applications have is quite real. So, the use of banking applications needs to be governed by international and national banking regulations. The development and testing team needs to uphold international banking regulations and policies for it to be an ethical application.

  • Verifying automated reporting functions

The automated reporting functions that keep the customer in the loop also need to be tested thoroughly to ensure that the reports go out at the right time. The reporting functions make the final application very responsive and interactive to the users. The reporting mechanism needs to pick the right kind of data and report it on time.

3.2 Audit Trails

  • Ensuring accurate and tamper-proof audit logs

The banking applications should also be checked for their record keeping and access process. The testers and professionals need to check the audit process and features to ensure that the audit logs are accurate. The Audit logs should be on display to the bank and the user for transparency of information and accessibility.

  • Testing for real-time monitoring capabilities

The banking application should be secure and vigilant on the banking activity taken up by the user and other parties. The banking application should have real-time monitoring capabilities so that the transactions and any breach of security are immediately caught and reported to the user and the bank. The test cases and environment should be designed in such a way that the real-time monitoring process is tested and improved.

4. User Experience and Accessibility

4.1 Interface and Navigation

  • Testing for intuitive user interfaces and ease of navigation

The testers and quality assurance team also need to pay attention to the user interface and usability standards of the application. The testing team needs to design the test cases to check the intuitive and responsiveness of the user interface. The navigation processes and controls should also be checked for their responsiveness. The navigation process should be simple but supportive of all other processes and decisions taken by the user.

  • Ensuring consistency across different platforms

These days, companies are keen on creating highly responsive cross-platform apps for banking. The testing professionals need to keep this in mind and test the application as a whole for cross-platform capabilities. The user also needs to have the ease of using the same application on multiple devices if needed. The team has to develop and test the capabilities for both web and mobile platforms. The application should be useful across multiple browsers and operating systems for it to be highly successful.

Also Read: How to Choose the Right Banking Application Testing Tools?

4.2 Accessibility Compliance

  • Ensuring the app is accessible to users with disabilities

A banking application should be so useful that it can run on any device and be used by every person. The application should be highly accessible and highly useful to people across social strata. Even people who have disabilities and vision problems should be able to use the application with ease. The testing team should test the application on multiple parameters to ensure that the application is highly accessible and useful.

  • Testing for compliance with standards like WCAG

The testing and development team should be aware of the different standards of the banking industry, like WCAG. The development team should adhere to the WCAG standards, and the testing team should check the features according to the pre-set standards of the industry.

5. Integration Testing

5.1 Third-Party Integrations

  • Testing integration with external systems

The testing team has to emphasize integration testing in the final phase of testing to ensure that the integrations made into the application are functioning properly and seamlessly. The banking application will have integration with many third-party factors like vendors, merchants, and payment gateways.

The banking application testing team has to ensure that the test cases run smoothly. As an output, the banking application should have integrity of interface and uniformity of features across different platforms and providers. The payment gateway integrations should be strong and useful, working with speed for customers across the industry.

  • Ensuring seamless data exchange and functionality

The banking application will have access to the sensitive data and information of users. The application needs to have proper, secure channels that work with speed to exchange data with the integrated platforms. The flow of information should be fast and protected so that there is an easy exchange of data without any security concerns.

5.2 API and Services Connectivity

  • Testing RESTful APIs and web services for functionality and security

The RESTful APIs and web services are also very supportive of banking applications, but the development team and testing team have to choose the RESTful APIs and web services properly. Only the useful ones need to be integrated to ensure that there is no lag or heavy data in the back end. The API testing cases need to be designed to check the API connectivity and service connectivity. The ease of these connections will ensure that the banking application is feature-rich and highly responsive.

  • Ensuring reliable connectivity and data synchronization

The application should be designed and tested in such a way that the user data and bank data should be highly synchronized. The testing team needs to test the app completely and in minute details, especially in the back end, to ensure that the data storage and exchange happens in a conserved, secure way.

The data processes and management should be supportive of the connected APIs and third-party gateways. It is important that banking application development focuses on creating reliable mechanisms that enhance the usability of the application.

The banking application testing team needs to check the connections and channels for any vulnerabilities. Once the vulnerabilities are detected, the testing team needs to focus on reducing the vulnerabilities and minimizing them.

6. Backup and Recovery

6.1 Data Backup Processes

  • Testing automated backup systems

The banking application will depend a lot on the data that the user shares with its interface. The user will use the application for a long time and depend on data accessibility. The data related to transactions and banking processes should not be compromised. For this, the development team needs to integrate an automated data backup system into the application so that all the data related to the user and the banking application are conserved for access.
The testing team needs to check for the integrity of this backup system. The storage of this system and its automated processes should be tested with diverse test cases and environments for good results. The backup system is an important component of the banking application that the user and the bank need.

  • Ensuring data integrity in backup and recovery operations

The testing and QA team needs to ensure that the backup system is working and maintains the integrity of the data stored. The data backup system should not face any lags, issues, or glitches. The backup system should be protected with multiple security layers so that the system can protect large data sets and offer good recovery options.

The recovery options also need to be tested under different conditions and instances to ensure that the recovery mechanism is working without any major issues. The recovery mechanism should work quickly after authentication. There are many aspects of data backup and recovery that need to be tested thoroughly.

6.2 Disaster Recovery Testing

  • Simulating different disaster scenarios

The test cases that the team creates should be designed in such a way that the application is optimized according to multiple scenarios. Once the application is deployed, it is important to remember that it will be used by people across multiple demographic areas and under different conditions of data and other resource access.

The testing team needs to be aware of the type of application they are testing. The professionals also need to keep an eye on the customer’s mindset and everyday conditions under which the application will come into use. The user base needs to be studied, and problems need to be predicted to reduce their occurrence.

The testing team needs to simulate multiple disaster scenarios from market and user insights. The testing should be done thoroughly for each scenario so that any kind of disaster possibility is minimized and dealt with beforehand. The goal is to create a banking application that is highly useful and has high speed and performance, even under fluctuating external conditions.

  • Testing recovery procedures and time to recover

The testing team has to further check the recovery process and the time taken to recover the data from the data backup system. A user will be in distress if his financial information and application data are erased with hassling recovery strategies. So, the development and testing team needs to focus on creating a recovery procedure that is fast and easy to trigger.

The recovery process should be ideally automated and quick so that the user does not face any major problems. For this, the testing team needs to take the recovery testing process seriously. The testing team needs to communicate with the development team about the improvements needed in the recovery mechanism before deployment.

These are the basic testing processes and cases that should be taken into consideration for banking applications. The banking applications are the ones that users use to handle their financial transactions. Therefore, it is the responsibility of the application development and testing team to create a high-performance, high-speed, and highly secure application that users can rely on. The banking application should have a plethora of the most necessary capabilities and cool banking features. For this, the testers have to test the application features and vulnerabilities with a detailed approach.

Secure Tomorrow’s Banking Application, Test Today!

The blog has focused on the use of fintech and banking applications in the modern day. The use of advanced banking applications is a boon for users and common people because everyone needs banking and payment services in an accessible way. The application should be very secure and useful to make sure it has a positive impact on the financial aspect of people’s lives. It is the responsibility of the development team to focus on creating a feature-rich banking app with multiple security layers and highly specific authorization processes. The features should increase the reliability of the application so that the user can use it for all his payments and financial decisions.

If you are a mobile app development company and want to partner with fintech companies to create apps that make a real impact, you also have to focus on developing a team for application security testing for fintech. The application development team needs to put emphasis on creating high-performance applications of banking so that they have real-time use. The company needs to understand the needs and demands of the user base to create a fintech app that is highly popular and user imprint. A good testing professional team is an important component for such companies that are shifting to fintech and the BFSI sector.

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