When we think of a bank, the first thing which comes to our mind is “Trust”. we trust that our money is safely accounted for at the bank. With this trust in hand, banking has evolved into the nerve center of all financial activities around the world. Over centuries now the banking system has evolved into an ecosystem for personal and commercial transactions across the globe.

The last few years have seen a rapid evolution of technology involving: mobile banking, digital money, wallets, crypto currencies and blockchain. Essentially the retail space has seen big leaps in innovation thanks to the availability of affordable technology in cloud-native, hardware, software and communications infrastructure. Quite literally the smartphone that a banking consumer possesses is exponentially more powerful than the server systems that were used for banking a few years ago. This has opened the floodgates on innovation and created a revolution of sorts giving birth to the what is now popularly known as “FinTech”.

The level of service that the consumer expects today coupled with the increasing popularity of new-age fintech companies have resulted in banks having to re-invent themselves and level the playing field by offering new products across the digital landscape.

The challenge for banks is unique, in that they need to continue their legacy of “Trust” when it comes to any new product they offer. Trust which they have literally built over hundreds of years. The solution is quite simply to be able to launch new robust products that can satisfy the market expectations and at the same time maintain the integrity of the complex banking framework.

The ability to automate UI, batch files, APIs and database entries through a single suite will prove to be a worthy ally in an everchanging landscape. An end-to-end reno test automation solution that can help banks automate their test management practice at the “micro” level is the need of the hour. Rather than settling for isolated test systems, end-to-end test automation systems provide the ability to run a myriad of test cases as a single suite.

Further multiple teams can collaborate and share the repository of test automation scripts, bringing in reusability and efficiency in the testing practice. In summary banks will need to combine innovation with test automation to ensure efficient rollout of reliable product offerings and stay ahead of the market rather than play catch up.

Written By- Damodharan Sampathkumar, General Manager at Renovite Technologies Inc

Contact- damo@renovite.com