In today's era, BFSI industry has been revolutionized by the latest trends and digital initiatives like Mobile wallets, P2P Transfers, Ping pay, Omni Channel banking has digitally transformed the world. Banking domain involves intricate functionalities and a functional framework spread across Corporate banking, Centralized banking, Cards and payment gateways.
For an application to succeed, there are various factors involved like, ease of access, performance, smooth and secure support. The financial applications possess multi-tier functionality to cater thousands of concurrent user sessions. Such applications are integrated with complex business workflows, Bill pay utility as they involve Real time transactions at a very high rate. Therefore, the transaction processor involves millions of transaction per second making it a complex system. Challenges faced by the BFSI Industry: 1. Multi-Channel approach: Everyone wants to make use of banking services anytime and anywhere that led to the origin of digital banks i.e. banks without branches. Providing users complete workflow or end to end functionality of a bank on the front-end of the mobile devices becomes a challenging task. 2. Plethora of devices: Wide range of devices are available having different platforms, operating systems, screen resolution etc. To read more, click original post - https://www.bugraptors.com/blog/growth-in-banking-financial-applications-increased-demand-of-qa/ | ||
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