digital presence of banks is increasing on heightened rate. This surge of vast amount of unimaginable data is causing huge security issues. Threats such as poor data encryption, malware attacks, unprotected third-party integrations, poorly guarded data, spoofing etc. are causing devastation in the banking sector. Not to mention the revenue loss.
UX is the pillar for the success of any software. In the desperation of introducing many features, a blind eye towards UI of apps and websites are given least importance
Traditional compliance model is insufficient to estimate the underlying risk nowadays. So implementation new software system has become a necessity.
Every bank and financial institution is facing a hypercompetitive situation when it comes to presenting a stable and feature rich software to their customers. Since competitors are in plenty, flaws can be fatal for banks and finance companies.
|ENGAGEMENT TYPE||ON DEMAND||PART TIME||DEDICATED|
|Duration||Hourly||4 Hours/day||8 Hours/day|
|Hiring Period(min)||40 Hours||80 Hours||160 Hours|
|Communication||Zoom, Slack, Skype, Email|
|Project Trackers||Trello, Confluence, Daily Reports, Basecamp, Jira, Redmine, etc.|
Regulations and standards are changing, customer demands are changing beyond anything. Digital transformation is the key for any bank to survive in this era of constant changes.
Integration is another problem. What was once simple has now become complex software system that has multiple integrations to enhance its capabilities. The challenging part is that this hive of a system has to work harmoniously and seamlessly. Millions of money is involved and customer on the other hand is expecting everything about his/her bank to shift to a digital domain.
It’s a tough situation and the pressure to implement digitization as quickly as possible is immense. So to make it happen, you need a development team and a testing team that has the resources and experience to work in this short span of time.
This is the exact reason why testbytes can be an amazing choice for you.
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