Forward thinking financial services organizations continue to invest in the tools and resources required to move away from manual testing toward automation, which allows for more testing in less time, increased productivity and expands how much can be tested at any given time.
That’s according to Perfecto’s 2022 State of Test Automation Report, which states: “While there will always be a need for manual testing, automating the right tests will help testers execute more test cases in less time, improve test coverage, and keep up with the pressure of go-to-market needs.”
Test automation is particularly important for the payments industry, which is facing more challenges than ever before. Financial services providers must keep up-to-date with rapidly evolving customer expectations, legal and regulatory pressures, disruptive competitors and the growth of digital transactions.
To help banks, processors, merchants, networks or gateways make a successful transition to test automation, we have listed some best practices that will enable any company to deliver a world-class customer experience, while at the same time reducing costs and increasing profitability.
✔️ Automate the test cases that are easy to automate
With the majority of financial service organizations still relying on manual processes to support their testing infrastructure, the first step in the test automation journey is to automate the tests that will provide the fastest ROI.
In most cases, the 80/20 rule applies to testing for financial services companies. That means 20 percent of the tests generate 80 percent of the testing volume. When done manually, these tests equate to a huge amount of work - and cost - for your business.
The fastest way to achieve rapid ROI is by automating the most common tests first. Once those tests are automated, you can then leverage the savings in time and money to focus on the next set of tests. .
✔️ Divide your automated testing efforts based on skill
No two resources have the exact same skill sets. As you introduce automation into your test environment, it is important to define roles associated with different skill levels, assign each resource with the right permissions, and then provide access to the data they need to perform their job and be successful.
User access and collaboration are key considerations here, especially since many resources are working remotely.
✔️ Consistently monitor and improve your test coverage
All modern payment systems undergo continual change. There are always improvements that can be made to help speed up your product/service delivery cycles and ensure existing products continue to operate seamlessly.
That’s why it is important to use test automation data to continuously monitor results and improve test coverage. Insights gained during testing can be used to find new efficiencies within your existing processes.
✔️ Test new products early and frequently
Using automation to test early and often will help your teams detect and correct issues during the development cycle. Earlier detection means easier and faster problem resolution and minimizes the possibility of errors making it into production - where they can cause negative customer impacts and get very expensive to resolve.
✔️ Invest in the right technologies
Digital transformation has become a requirement for financial services companies that want to remain competitive in today’s dynamic marketplace. And testing automation is required to support an effective digital transformation journey. It is therefore important to recognize that the introduction of testing automation requires an investment in the right tools and technology needed to reach these transformation goals.
Here at Paragon Application Systems, we have designed a range of solutions to help financial service companies automate their payment testing processes. Our tools and simulators help these businesses to improve their customer experience, deliver new products and services faster, and increase their overall profitability.
Are you interested in learning how we can help your business with our robust test automation capabilities?