In order to test FinTech applications, we need to map out requirements and specific types of testing. For a FinTech application or software, there are five key requirements: security, data integrity, user friendliness, functionality, and performance. The following diagram illustrates each requirement in reference to testing:
Security is one of the most important aspects requiring testing in a FinTech application. Financial data used by applications contains sensitive information that can be misused by hackers and malicious software. As such, security testing, including penetration and vulnerability checks, is important.
Data safety, data integrity, and data validation are important for any system, but are especially essential for financial systems. During data migration and data exchanges over communication channels, proper procedures and rules regarding tables and records must be followed.
FinTech applications are used to expand both the reach...