Main Errors Made While Testing Fintech Software

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In the finance/banking field, special attention should be paid to the security and stability of software functioning.

Here, comprehensive web testing is an important element at any stage of software implementation since it can help to build first-class protection of any client’s confidential information.

According to the fresh data of World Quality Report, from the previous year 2020 and to the first quarter of the current year, approximately 65 % of banks have been trying to cover all their digital solutions with tests.

Further, we’ll analyze popular mistakes that can be made while testing financial software.

Reasons why tests in a financial services field stop being efficient

It’s impossible to get completely functioning software but you can get as close as possible to this criterion.

A qualitative strategy should be based on recording the most typical errors and working on them.

Mistake#1: decreasing the amount of test coverage due to the acceleration of QA processes

To enter the market more rapidly, some companies sometimes practice decreasing the expenses spent on development, testing, or even stop using the services of QA specialists.

This approach can be beneficial only for the short term and may have a negative effect on the quality of software code.

To ensure the stability and reliability of code, you need to test a fintech software functionality several times, and even sometimes engage third-party systems and platforms.

Besides functional testing, you should also pay special attention to web security since the software that is used in an everyday bank’s activity, attracts cybercriminals.

Mistake #2: incorrect optimization during software test automation

Automated tests are a first-class way to gradually decrease pre-release software code for a QA lab.

But if you don’t have such experience and a properly built strategy for a QA community, software test automation can become just a rain dance.

For example, editing a software functionality can greatly slow QA processes down even if you use a maximum number of automated tests since testing algorithms should be constantly reviewed, in the same way as code review.

Lack of automation also doesn’t save time since the efficiency of manual testing when using the same size of a test group stays at the same level or decreases.

Mistake #3: issues with UX

Though mobile devices have become an important part of everyday human life, some companies still neglect cross-device and cross-platform testing and assess software functionality only by verifying web versions.

Using web emulators and online simulators only instead of real devices is a popular mistake of mobile testing.

This method doesn’t help to find the most critical bugs and major bugs in software functionality.


The rapid development of a fintech industry sets its own trends and some companies have difficulty in being the first ones on this market.

Numerous companies try to use non-system automation, decrease test coverage and ignore cross-device and cross-platform tests.

It’s highly recommended to review the methods of improving QA and implementing balanced approaches in software test automation.

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