QA of financial software
Banking and finance solutions we test
We help banks and fintech institutions ensure secure and uninterrupted performance of their various solutions — from online banking to high-frequency trading systems — ensuring they deliver reliable customer experiences while meeting regulatory requirements (PSD2, GDPR, PCI DSS, SOX, and others).
Mobile and web banking products
We run usability tests to ensure that both mobile software and web applications are user-friendly and intuitive. We also apply different functional tests to confirm that all features perform well, ensure sufficient data protection through security testing, and gauge processing speed through performance verification and then provide recommendations for further increase.
Investment management solutions
We verify data processing and management of vast dynamic data volumes and confirm that investment management software operates as expected. Our testers also apply security best practices to prevent disclosure of sensitive financial information and run performance tests to confirm the software can operate under high loads.
Lending and loan software
We ensure the reliability and performance of lending and loan software, including loan management apps, mortgage management systems, credit services, and risk management solutions. Our experts help deliver secure, high-quality financial software and ensure regulatory compliance.
APIs for open banking
We test banking software data security focusing on multi-factor authentication, validate software limits under high loads, check data response and behavior of API queries, and verify open banking integration with third-party systems, such as diverse payment solutions.
Payment processing software
We ensure the speed, security, and reliability of solutions for domestic and international transactions. Our QA covers a wide range of payment types, including POS systems, payment gateways, digital payment software. The approach involves identifying and addressing issues such as declined or incomplete transactions and difficulties with adding payment methods. Additionally, a1qa offers verifying compliance with international regulations like GDPR and PCI DSS.
Core banking systems
a1qa, a banking application testing company, provides comprehensive and continuous testing of the back-end functionality of core banking systems (Temenos, SDK. finance, Mambu, Backbase, Oracle FLEXCUBE, Finacle, Finastra), including corporate banking software and private wealth management solutions, to ensure high performance of all banking operations, unmatched speed, full data protection, and seamless integration with various banking and finance software.
Stock trading platforms
We exam the functionality of trading software, including algorithmic trading platforms, wealth management software, high-frequency trading systems, and asset management tools. Our assessments cover performance, resistance to cyber-attacks or data leaks, ease of use, and the ability to seamlessly integrate with other third-party systems.
Banking IoT solutions
We verify the functionality, security, and performance of smart ATMs or how digital wallets embedded into mobile phones interact and share data. We ensure smooth network operation and reliability, as well as sensitive data protection and conduct thorough testing of zero trust systems.
Advanced technologies we specialize in
Blockchain
We test blockchain-based solutions, including smart contracts, wallets, NFT marketplaces, decentralized apps (dApps), to make sure they function in line with specifications, can handle increased loads, and are resistant to cyber threats.
Robotic Process Automation and Intelligent Process Automation
We define test scenarios, use realistic test data, check that RPA software meets functional and non-functional requirements, review its operation when using large data inputs, and verify recovery mechanisms.
Artificial intelligence and machine learning
We test AI-powered fintech software, assessing the effectiveness of the implemented AI/ML models. Our company checks the quality and integrity of data used for model training to ensure the models deliver accurate results. We work with various AI-enabled solutions, from AI assistants and credit scoring systems to algorithmic trading software.
AR/VR technologies
We offer a variety of QA services to test AR/VR-based software used by banks to interact with customers and deliver streamlined, personalized digital services. Thus, we can ensure their usability, performance, security, and compatibility across diverse devices, consoles, and OSs.
Cloud computing and infrastructure
We test the functionality and integrity of the fintech solutions hosted in the cloud to ensure they are reliable and resilient to attacks. We assess the solutions’ scalability and performance under peak loads, as well as check their disaster recovery and data security mechanisms. With strong industry domain and technology knowledge, we provide end-to-end testing support for cloud migration initiatives.
Various financial domains we serve
Our testing approach is built around the deep understanding of financial verticals and international regulations, delivering systems that stand up to real-world demands.
Insurance
We offer end-to-end QA support to help insurance companies deliver high-quality applications, preventing miscalculations in coverage, errors during policy creation, and functional system gaps.
Global financial markets
We validate trading models and live data flows and make sure latency constraints perform exactly as required by specifications.
Wealth management
We make sure wealth platforms deliver accurate portfolio results, compliant advisory processes, and dependable client reporting.
FinTech and payments
We focus on verifying payment execution, transaction integrity, fraud prevention, regulatory adherence, and performance under load.
Business banking
We thoroughly validate corporate account workflows, transaction processing accuracy, compliance controls, and data integrity.
Software testing services we deliver
We provide a variety of financial application testing services across SDLC:
Compliance testing
We help firms mitigate risks related to fraud or unauthorized access and prevent law violations by checking banking and financial solutions’ compliance with regulatory and security standards presented by PCI DSS, ISO 20022, and ISO/TC 68. For example, a1qa helped the developer of SaaS billing software with complex business logic enhance its security posture and successfully pass PCI DSS audit, proving the system could effectively handle payment transactions.
Cybersecurity testing
Through vulnerability scanning, penetration testing, and other security verifications based on OWASP, we help banking and financial market players secure financial data and ensure software protection from malicious intruders. To illustrate, OWASP-driven security testing helped a financial institution in Jordan discover serious vulnerabilities that could lead to full account compromise, data exposure, and unauthorized API access.
Compatibility testing
We deliver compatibility testing services to confirm that banking and financial software can seamlessly run in any environment. Specifically, a1qa helped a fintech company looking to advance its digital systems and global connectivity by ensuring their software’s cross-device and cross-platform compatibility through testing on 30 relevant mobile devices.
Performance testing
Through client- and server-side performance verifications and monitoring, we make sure that online banking platforms, loan origination systems, and other financial software works effectively regardless of the load, allowing for quick transactions and data exchange.
Functional testing
We assist companies with releasing internet banking systems, investment and stock management solutions, insurance software, and financial management products. We compile a test strategy and documentation and apply functional testing verifications to validate web, mobile, and desktop software against specifications, providing maximized test coverage and minimized business risks.
Accessibility testing
We ensure that individuals with disabilities can properly use diverse online banking and financial software, such as investment banking software, mobile banking applications, and electronic payment systems. All software facets are examined to guarantee compliance with international accessibility standards, including WCAG 2.0, ADA, and Section 508.
Test automation
Through test automation, we can significantly expand test coverage and speed up testing velocity. We leverage a tailored Aquality Automation framework that allows automatic test cases creation for web/mobile/desktop solutions and applies AI to locate the source of issues. In addition, we use popular frameworks such as Selenium, Playwright, Appium, and Cypress, along with programming languages like Java, JavaScript, C#, and Python. For instance, a1qa helped a prominent financial institution in Central Asia speed up constantly increasing volume of regression testing activities with test automation, achieving 75% coverage for UI regression testing and 93% for back-end regression testing.
Integration testing
We make sure that solutions, such as core banking, credit and loans, fraud management, and investment systems integrate with one another and operate well when interacting with external payment gateways or other third-party services. In particular, a1qa helped the developer of an investment portfolio management ecosystem to ensure consistent data formats and accurate data transfer from multiple broker sources via a data aggregator with rigorous integration testing.
Usability testing
We make sure that multiple financial solutions, such as credit management systems or core banking software, are intuitive and user-friendly, which ensures high conversion rates and customer satisfaction.
End-to-end testing
We test the entire functionality of banking and financial software, from start to finish, to confirm the coherent work of all its components and validate its quality, reliability, performance, and security.
Challenges that can be mitigated with QA and software testing in financial services
Concerns with testing complex calculations
A failure to ensure high quality of solutions for financial calculations, risks analysis, or reports generation results in erroneous information and users’ inability to accurately make data-driven decisions.
Lack of proficient QA experts and managers
A shortage of professionals experienced in testing complex software can lead to poor QA strategies, processes, and insufficient test coverage, causing security, performance, integration, or functional issues.
Inability to ensure quality using real devices
A scarcity of quality testing on real mobile devices can result in reduced test coverage, affecting software performance, security, and user experience.
Digital transformation and cloud migration
Digital transformation and cloud migration can lead to domain-specific challenges, including integrating legacy systems, maintaining data integrity, ensuring regulatory compliance. Without sufficient digital banking testing services, it can be hard to ensure high quality, performance, and security of all solutions, implemented technologies, and revamped business processes.
Shortage of standards for the newest technologies
The blockchain industry lacks standardized testing frameworks and guidelines, making it challenging to establish best practices for testing. The same applies to RPA and AI/ML-based solutions. If experienced QA engineers are involved, they can help banks and other financial providers develop tailored testing frameworks considering unique needs of blockchain/RPA/AI/ML projects, introduce test automation, follow risk-based testing, leverage some traditional techniques (e.g. boundary value analysis), and focus on security and compliance of such solutions.
Struggling with legacy systems modernization
Insufficient testing of banking and financial legacy systems or a lack of BFSI testing when switching to modernized solutions can cause issues related to functional and non-functional software aspects or even downtime.
Omnichannel experience
Providing a consistent user experience across digital touchpoints can be challenging. Ensuring that your financial services function flawlessly across web, mobile, and other platforms is crucial.
How do we turn clients’ needs into success stories?
Our happy clients say
Industry recognition
Why a1qa?
20+ years delivering QA services
We cover all QA needs, from performance testing to test automation, allowing companies to get a wide variety of QA services in one place without the associated costs of an in-house QA team setup.
10+ CoEs and R&Ds
We have diverse CoEs and R&Ds where we accumulate industry-specific expertise, so that our QA engineers and managers can grow professionally, master diverse tools, and be able to work with systems of diverse complexities.
1,100+ full-time QA experts
We assign skilled QA engineers with the required technical and industry expertise to solve QA-related challenges, meet set milestones, and ensure the quality of financial software.
Professional management
We completely control the testing process across all SDLC stages so that you can focus on other high-priority objectives.
Team scalability
We set up tailored QA teams for our clients’ projects and can quickly ramp them up or down depending on the changing workload, ensuring unhindered financial application testing and banking application testing.
Fine-tuned processes
We follow ISO 9001/27001 standards, best practices, and track progress with KPIs to effectively organize and manage QA workflows and mitigate project risks.
Frequently asked questions
Testing services for financial solutions include functional, performance, cybersecurity, compliance, and integration testing. These are relevant for mobile and web banking, payment processing systems, trading platforms, core banking, and lending applications to help ensure their reliability, security, and regulatory alignment.
Quality assurance can be embedded from the initial stages of software development to the production stage and beyond.
Financial systems must meet strict standards for data protection, uptime, and regulatory compliance. QA ensures that software is secure, performs under heavy loads, and adheres to regulations such as DORA, PCI DSS and ISO/TC 68.
Ensuring failsafe operation of BFSI solutions requires a structured, security-first approach that validates the software’s entire functionality and regulatory compliance. The banking software testing process should include a rigorous analysis of clients’ business needs, concerns, software’s internal logic, and transaction workflows. Next, QA teams need to compile a holistic, tailored QA strategy, set up the required testing infrastructure, develop necessary test cases, conduct thorough validation of all system capabilities, apply AI-empowered test automation if applicable, and set up transparent and timely reporting.
BFSI software testing is the process of assessing software quality designed specifically for applications used in the banking and financial services sector. It focuses on verifying that complex digital systems handling transactions, customer data, and compliance workflows function without any issues. This type of testing covers a wide spectrum of activities — from validating core banking platforms and digital payment solutions to checking loan management and trading systems. QA teams either manually or automatically evaluate every functionality of the IT product, confirming its dependable nature and strong security.
a1qa’s software testing specialists combine deep domain knowledge with advanced testing methodologies (continuous testing, testing in Agile and DevOps, AI-driven test automation, infusing DevSecOps, etc.) to ensure that even innovative banking products powered by AI, blockchain, cloud, AR/VR, IPA, and other technologies provide impeccable digital experiences 24/7. We also apply risk-based testing strategies, automation frameworks, and regulatory validation to detect issues early and minimize downtime.