Testing times: Riding the Gulf’s banking merger wave with confidence
Author, Issa Keshek, Regional Manager for the Middle East/Africa
These are interesting times when it comes to the financial services sector in the Middle East. To meet expansion plans, cater for evolving future requirements and to better serve customers, mergers in the Gulf banking sector are expected in due course. These shifts do, however, present new risks and new challenges.
Managing and testing the technical consolidation of banking systems is less than straightforward. Systems and routines have been in place for years, sometimes decades, and as everyone knows – change is hard. But in this context, a 100% success rate is an absolute must, no matter how hard it is.
To manage this successfully, banks need a form of insurance that guarantees a seamless, faultless transition as system consolidation takes centre stage and with it, the eyes of the industry.
A compelling consideration for banks is selecting the tools and services that have been designed and are geared to the banking and payment systems with inherent logic of metrics like a financial transaction, a card type, a financial mandate, and so forth. Clearly, a generic technical or message format testing may render the exercise ineffective or impractical.
Safe hands: Automated, End-to-End Testing
Reno-Test has been designed to manage and optimise the challenges and opportunities of the 21st-century banking landscape, a landscape which faces a lot of change as Fintechs continue to disrupt the market.
Reno-Test’s cloud-native testing capability offers banks and FIs entering a transitional period, such as a technical consolidation, a level of automated end-to-end insurance and risk mitigation that isn’t available elsewhere on the market.
Objective test plans can respond to demands effectively by documenting, executing and testing payment systems with absolute confidence.
By choosing the right technology partner and the right testing solution, banks can reduce risk through faster testing, scalability, time and cost efficiency, improved collaboration, and meaningful diagnostics.
Taken together, this will allow the FIs in question to respond more quickly to consumer demands, arriving at their newly merged destination quickly and safely. No matter the operational circumstances, FI must deliver a continuous stream of new and flawless payment options, channels, and types at speed and without risk – and that’s where Reno-Test comes in.
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If you would like to know more about Reno-Test and how it can help your business, please get in touch.