The banking and financial service industry is evolving fast while undergoing extensive changes brought about by regulatory bodies, new technologies and consumer behavior. In fact, there was a massive paradigm shift in consumer behavior and expectations after the disruption of the global Covid-19 pandemic. Banks are preparing to adhere to the new regulations, such as Open Banking and PSD2, that aim to provide an even playing field to the new entrants. However, they must also develop effective strategies to retain the competitive edge.

Customer experience as the game changer

In the current customer-centric business world, the competitive metric is your customer experience. A seamless and easy user experience at every digital touchpoint is crucial and leads to a satisfying and unified brand experience. After all, a delightful customer experience goes a long way in growing your business. After analyzing and understanding how each touchpoint impacts customer perception and expectation, you need to provide your customers with the right digital solution.

Agility in reaching the market

One critical element in this transformation journey is your time-to-market. In today’s ever-changing, agile world, products are launched almost every week. It is why more organizations are embracing low-code/no-code approaches and methodologies like Agile, DevOps or RAD. On this journey of rapid digitization and transitioning to an automated world, organizations must balance time, cost and quality to unlock business value.

Role of quality assurance

So, the Quality Assurance process plays a significant role in the quality of the products launched. Currently, quality assurance has evolved significantly, undergoing a lot of changes. Once viewed as the last laborious step of an SDLC lifecycle, now, the shift-left/fail-often-fail-early approach are practiced for a quick feedback loop in the continuous testing era.

Speeding up testing with test automation

Test automation is a great way to speed up the testing process and increase the accuracy and reliability of test results. As per a Gartner report, by 2024, organizations will lower operational costs by 30% by combining hyper-automation technologies with redesigned operational processes. However, test automation also has its own set of challenges. Testing automation requires careful planning and implementation; can become time-consuming and costly without properly addressing the challenges.

Here are some of the common challenges many companies face in implementing a smooth QA process:

• Maintenance of automation pack
• Technology agnostic test tool
• Open-source architecture
• High cost of ownership
• Too many tools
• Unstable/unreliable environment
• Tools not updated/upgraded
• Test cases prepared by others

In our recent survey, it was revealed that maintenance of the automation pack is a crucial challenge in creating a fully automated value chain. As your application and test requirements change, you may need to update the automation framework, which can be time-consuming and expensive. Test automation is a powerful tool; however, you may not get the most out of it without the right resources and maintenance.

Just as organizations are encouraging citizen developers to build applications for their usage, similarly in the testing domain, businesses should be able to maintain the automation pack without any coding knowledge. Though the concept is not new, organizations should realize its impact and thus create more enablers for it.

TerrA, the next-gen tool

Here comes TerrA, the next-gen, technology-agnostic, visual flow-based test automation tool!

Developed by domain experts with decades of experience in testing, TerrA reduces the dependency on a skilled resource by leveraging its codeless feature. It is an enterprise omnichannel automation platform designed to help businesses of all sizes. It is a user-friendly drag-and-drop-based powerful test management and test automation tool built on an RPA platform.

Here are some of the crucial elements that set TerrA apart from the competition:

• Technologic agnostic enterprise automation platform
• A versatile tool delivering diverse values
• Anyone can automate using TerrA
• Eliminates automation anxiety through maintenance on the go

Whether you need to perform test automation, management, defect management or data management– TerrA is a versatile tool that can cater to different needs. To learn more about TerrA, get in touch with us at Tristha Global.