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Software Development & Testing Challenges in Finance & Banking

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This presentation discusses some of the challenges in software development and testing in the financial services industry, including Sarbox compliance, data migration and blockchain. It also includes case studies on the TSB and RBS disasters and illustrates how the right tools, process and culture can help avoid.

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Software Development & Testing Challenges in Finance & Banking

  1. 1. ® WEBINAR: Software Development & Testing Challenges in the Financial Services Industry May 24th, 2018 – Adam Sandman
  2. 2. ® 3 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation Agenda  Challenges in Banking & Finance  Horror Stories  Testing and Compliance Tools to Reduce Risk  Managing Testing & Compliance with SpiraTeam  Automating Test Cases with Rapise  Q&A
  3. 3. ® 4 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation Challenges in Banking & Finance
  4. 4. ® 5 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® What are some of the top challenges? Compliance with regulations Sarbanes-Oxley (SarBox) Dodd-Frank FATCA New Technology & Innovation Cryptocurrencies and blockchain Artificial Intelligence and high-frequency trading
  5. 5. ® 6 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® What are some of the top challenges? Upgrade of legacy systems, M&A  Clean-up of glued together systems from 2007 crisis  Data migration to newer platforms Cybersecurity and data-breaches  General Data Protection Regulation (GDPR) Customer Expectations  Mobile banking  Mobile payments  Banking ‘anywhere’ and ‘everywhere’
  6. 6. ® 7 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation Horror Stories aka Case Studies
  7. 7. ® 8 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® RBS IT Upgrade Failure  Upgrade of core payments system (CA-7 software) failed, resulting in disruption of bank payments for ~ 2 week  Affected RBS, NatWest and Ulster Bank payments  Inability to make payments, access cash from ATMs  Double entry of payments, corrupted transactions  Business Impact  RBS Fined £56m by Bank of England and FCA  Loss of customers and reputational impact  Two years later, the same thing happened again, 600,000 customer payments went “missing”
  8. 8. ® 9 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Why Did It Happen?  The bank’s archaic technology systems struggled with the growing weight of customer transactions spurred by digital banking.  The regulator told banks to make sure their computers are able to support millions of their customers’ accounts after RBS’s earlier failure highlighted the antiquated state of many of their systems.  (https://www.theguardian.com/business/2015/jun/17/rbs-fails-to-make-600000- payments-customers-it-technology-failure-bank)
  9. 9. ® 10 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® TSB Data Migration Failure  Customer accounts were migrated from existing platform managed by Lloyds Banking Group to new Proteo platform  Capacity Issues  Web, mobile, branch banking not available  Data Integrity Issues  Customers could see each other accounts  Business Implications  Instead of saving £ 100m/year, it will cost ~ £30m in incentives to retain people, plus fines of > £ 70m  Would have been worse if GDPR was already in force
  10. 10. ® 11 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Why Did It Happen?  “The conversion of the systems – the data and the interface accessing the data, which links up to the banking system – clearly has not been well-tested before it went online,”  Shujun Li, a professor of cybersecurity at the University of Kent’s School of Computing.  "The scale of the problem we saw is incredible. It’s impossible if they had done systematic testing of the system. For me, it’s clearly a case of management, rather than purely a technical problem.”  (http://www.wired.co.uk/article/tsb-crisis-it-issues-online-banking-problems- ibm-paul-pester-compensation)
  11. 11. ® 12 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation Testing and Compliance Tools to Reduce Risk The Inflectra Solution
  12. 12. ® 13 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Inflectra Product Suite Requirements and Test Validation Platform Test & Process Automation
  13. 13. ® 14 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Requirements & Test Validation
  14. 14. ® 15 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Requirements Traceability
  15. 15. ® 16 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Shared Requirements Ability to define core mandated requirements that are shared between projects as well as project-specific features, use cases, and user stories.
  16. 16. ® 17 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Audit Logging & Trail
  17. 17. ® 18 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Speed and Agility with Compliance
  18. 18. ® 19 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Controlled / Secure Access
  19. 19. ® 20 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Automated Testing
  20. 20. ® 21 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Data-Driven Algorithmic Testing
  21. 21. ® 22 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation ® Data Interoperability
  22. 22. ® 23 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation Application Demos
  23. 23. ® 24 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation Questions? Please feel free to unmute your line, raise your hand, or simply write your question in the Chat window.
  24. 24. ® 25 | 5/29/2018 © Copyright 2006-2018 Inflectra Corporation Thanks for Watching Subscribe to Our Channel for More Videos on Software Testing http://www.youtube.com/inflectracorporation

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