Domain Knowledge

Banking Domain Knowledge For Testers

Banking Domain Knowledge For Testers

Right here’s an fascinating query for you … for those who’re a tester for a banking IT undertaking, do you must have banking area information?

Or would your know-how of testing methods, and how you can assemble check situations will suffice?

I’ll be trustworthy with you … once we ship IT tasks, one of many hardest phases is the testing part.

Particularly, that’s the level when most system and software program bugs seem and customers go Hey, I didn’t ask for that function or necessities.

It’s the place the rubber meets the street for a software program.

So any information that helps the testing course of shall be useful.

To me, I see BOTH area information and testing methods as essential.

On this article, I’d like to speak particularly about banking area information for testers.

The content material right here might be notably helpful for you when you’re concerned in testing a banking software program system in any method.

Nevertheless, even in case you are testing an IT system in one other business (e.g. insurance coverage or healthcare), the know-how right here will even be helpful.

Learn on and discover out extra!

1. Overview

Testing a banking system, particularly a core banking system is hard.

I imply, REALLY robust.

You might want to specify hundreds of check instances, masking shopper account opening, Know-Your-Shopper (KYC), deposits, loans, investments, bancassurance, funds, settlements, playing cards, loans and so forth.

Should you don’t have banking area information, will probably be VERY arduous to attract up check situations for the banking system.

Provided that you’ve completed sufficient banking tasks will you be accustomed to a few of the core check instances that should all the time be examined.

Within the following sections, I’ll attempt to:

  • Clarify why banking area information for testers is essential.
  • Enable you to perceive some key banking area ideas, and
  • Discover some methods banking check instances may be structured

Case Research. I keep in mind once I first began out on my first core banking challenge.

I used to be actually misplaced! I used to be only a Enterprise Analyst (and later a Tester) in what was a workforce of 50 venture assets.

I feel I used to be dealing with the funds module, particularly for digital fund transfers.

There was a whole lot of coordination between the core banking system and the Actual-Time Gross Settlement (RTGS) system right here in Singapore, run by the Financial Authority of Singapore (MAS).

These years have been a wrestle, as a result of I didn’t perceive how funds labored.

However working by means of lots of of check instances (e.g. provoke cost, checking cost limits, reconciling fund transfers towards financial institution accounts) helped me perceive – very solidly – how banking funds labored.

So in the event you’re a tester, be glad you’ve gotten an opportunity to study all these things! The banking area information you get shall be VERY helpful certainly in future undertaking.

Think about that you’re advised to write down a set of check instances for a core banking system. Particularly the shopper account opening module of the banking IT platform.

How would you go about doing it?

The method can’t simply be: “Hmm, let’s do this and that”.

You’d want to start out from a base know-how of financial institution accounts and the way they’re opened.

Now, sometimes, the best way we get at check situations and check instances is to talk to the customers.

The financial institution customers (on this case the Buyer Help Officers) would inform you that the shopper has many channels via which they enter the financial institution to open an account.

For instance, they could come to the Department Teller and attempt to open an account.

Or they could attempt to open an account by way of a cell phone (sure, that’s potential in Singapore at this time).

Some others might name their Relationship Supervisor to open an account for them.

In arising with check situations and check instances for a banking system, you REALLY want to return from a enterprise perspective.

An understanding of all of the channels, plus what checks (on-line and offline) have to be made earlier than an account is opened – will probably be very useful.

For instance, is the shopper opening a Joint Account? A Single Account?

Who can log off on the account for fund transfers? Is the individual opening the account a Politically Uncovered Individual (PEP)?

Does she or he have an excellent credit score report? Is she or he a bankrupt? In that case, you could want to dam account opening or increase pink flags.

You see, banking area information for testers is so essential.

It lends credibility to your work and what you are promoting customers CAN TELL.

Additionally, you will be seen as an authority within the undertaking as a result of you understand how enterprise works.

And right here’s the factor … it’s quite simple, actually.

Give it some thought from the financial institution’s CEO viewpoint.

I anticipate my technologists or IT guys who’re implementing my core banking system to know what the banking operational processes are.

I anticipate them to completely check the situations in order that operations proceed clean, with out being interrupted. Banking area information will assist with that and extra.

Should you work as a Enterprise Analyst and are struggling to know the banking area, there isn’t any higher start line than my ebook, “Banking Area Information For Enterprise Analysts”. Inside, I offer you a strong overview of the banking business – from retail, company, funding to non-public banking.

I additionally current easy frameworks to provide you a broad perspective into banks’ enterprise fashions, clients, distribution channels and operations. Test it out right here.

Banking has many variants – Retail Banking, Company Banking, Funding Banking, Personal Banking, and so on.

It is rather straightforward to get overwhelmed by the sheer quantity of data it’s a must to assimilate.

As a tester, it’s helpful so that you can perceive some key banking area ideas, which I’ll introduce under.

First, the idea of banking merchandise. What merchandise does a financial institution promote?

It is very important perceive this as a result of each banking operation is about up for product achievement.

For instance, if a Financial institution sells the very primary CASA or Present Account or Financial savings Account to shoppers.

Shopper deposit cash in these accounts for a (very low) curiosity return.

The financial institution lends out the money at greater curiosity to shoppers who need to take loans.

Banks might promote funding merchandise like equities, bonds, funds, structured merchandise, amongst others.

Considering when it comes to merchandise helps you perceive how a financial institution is structured, from the purpose the banking product is bought by means of to the purpose it’s fulfilled.

In my consulting line of labor, we name this framework an Working Mannequin, which is mostly a method to describe how a financial institution works and operates to satisfy its enterprise technique and income targets.

Second, we have to perceive banking providers. Banks supply providers corresponding to funds and remittance.

It additionally offers stuff like cheque books, funding recommendation, portfolio administration – all of those have a tendency to draw a administration charge.

These service operations additionally type a big a part of the financial institution’s center and again workplaces and is one thing you, as a tester, ought to search to know too.

And for those who perceive how a financial institution fulfill’s services, you’ll have the ability to say you perceive banking area information.

If you wish to study extra about banking area ideas and a common Banking Working Mannequin, do take a look at my information guide right here.

There are numerous methods to select up banking area information – these range from interviewing specialists, to studying or taking over programs, to truly getting arms on expertise in a undertaking.

Probably the greatest methods to select up banking area information is to ask an skilled. In case you have a consumer you’r near, or perhaps a good friend who works in banking – ask that individual.

How a banking services or products is completed, front-to-back. Inside a brief interview of e.g. 30 minutes, you’ll be capable of glean plenty of information.

I used to do that once I was beginning out – I’d shadow an Operations individual simply to observe what she or he does each day – checking accounts, doing reconciliation – it’s superb what you possibly can study from simply remark alone.

The opposite method to decide up banking information is by attending programs.

There are some good programs on the market and one of many tips I have a tendency to make use of is lookup accreditation from the regulators.

For instance, the Financial Authority in Singapore runs the Capital Markets and Monetary Advisory Providers (CMFAS) Examinations which I feel is superb for selecting up some base banking or monetary advisory information.

For these involved in studying methods to decide up banking area information, do take a look at my article right here.

Should you’re making an attempt to write down check instances for a banking system (let’s assume it’s a core banking system) – there are some primary guidelines to comply with.

Principally you don’t simply bounce proper in and write.

First, attempt to assume when it comes to services. From the second a buyer walks into the financial institution, how does the product get processed.

Take for instance, a mortgage.

The client must fill in a mortgage software type, the mortgage officer will fill within the particulars into the mortgage origination system, the system will run some validation checks.

If okay, the system will create a mortgage account and print some documentation.

From there the mortgage will probably be monitored for drawdowns and principal / curiosity funds, and so forth.

For my part, when drawing check instances right here – your know-how of testing methodology can also be necessary.

So attempt to additionally consider user-system interactions. If the consumer clicks a button, what does the system do – perhaps it processes one thing and makes a validation verify.

How does the system behave if the validation is okay and never okay?

These are literally normal use case methodologies and system interactions which, as a junior Enterprise Analyst and Tester prior to now, I did day in and day trip.

For those who’re excited about studying learn how to construction check instances for enterprise techniques, or testing methodologies basically, right here is an effective guide to take a look at.

Closing Ideas

In conclusion, I’d say that banking area information for testers is sort of important.

Figuring out how banks fulfill services offers you credibility and permit you to specify the right check situations and check instances your finish customers need.

It’s helpful to consider how one can purchase banking area information, maybe via professional interviews, programs or books.

Keep in mind, nevertheless, that one of the simplest ways to study is thru onerous expertise, so when you have any probability to hitch a banking challenge – leap at it!

Additionally, don’t overlook about testing methodologies both.

In the event you’re a testing professional, you’ll find out about check automation, carving out modular check scripts and utilizing instruments like Selenium.

Use and apply these expertise as properly, to spherical out the banking system testing strategy.

For extra info on banking area information, take a look at my articles right here and right here.

Till subsequent time, have a good time studying about banking and testing!

Banking Area Information For Enterprise Analysts

Are you struggling to select up banking area information? Excellent news … that will help you out, I’ve consolidated all my know-how concerning the banking area and the Enterprise Analyst profession into one guidebook.

Cease losing time browsing web sites, taking in adhoc bits of data with out seeing how every thing matches collectively within the business. This guide will provide you with a full overview of what the banking business is about and the way it operates. Test it out right here.

Get Your FREE Banking Area Information Cheat Sheet

I hope you’ll be able to see the potential of accumulating Banking Area Information in your job as a Check Supervisor or Check Lead.

Sure, it takes arduous work to realize that information.

However in the event you take the primary steps in line with what I’ve listed above, you recognize forward of time that your exhausting work goes to repay.

Able to get began?

Click on the hyperlink under and enter your e-mail to get entry to your free PDF Banking Area Information Cheat Sheet.