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Overcoming SoftwareDevelopment & Testing
Challenges inBanking & Finance
www.in�ectra.com
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Table Of Contents
Inflectra Solutions for Financial Services: SpiraPlan for QualityAssurance, Testing and Compliance Needs to Reduce Risk 2
Overarching Compliance Challenges 2
Tools You Can Trust 3
Functionality for Compliance in The Financial Sector 4
Overcoming Software Development & Testing Challenges in Banking andFinance 5
Regulatory Compliance 5
Overarching Policies & Requirements 6
Traceability 7
Security & Privacy 8
Transaction Processing 9
Complex Algorithms 10
Speed and Agility 10
Data Interoperability 12
Domain Expertise 13
The Inflectra Promise 14
Try the Inflectra Platform Now! 14
Solutions for Banking & Finance
Page 2Banking & Finance – Overcoming Software Development & Testing Challenges
Overarching Compliance Challenges
Inflectra Solutions for Financial Services: for Quality Assurance, Testing and
Compliance Needs to Reduce Risk SpiraPlan
The financial services industry has experienced unprecedented change,with increasing regulations such as Sarbanes-Oxley, Dodd-Frank, andFATCA. Cutting-edge technologies such as high-speed trading, advancedsimulations, and blockchain cryptocurrencies are challenging existingbusiness models.
BankingYou need to provideworld-class service toyour customers, whoexpect
. Whiledelivering, you arerequired to maintaincompliance with all ofthe banking regulations,processes, and financialcontrols.
on-demand, real-time banking
InsuranceOngoing changes intechnology,demography, andconsumer needs aredisrupting the insuranceindustry. Combined withincreased regulatory andfinancial reportingdemands, you need toinnovate while managingrisk.
FinanceThe technologylandscape for financefirms is changing fast asa consequence of therise of high-frequencytrading, blockchain-based cryptocurrencies,increased privacyoversight, and AI-basedforecasting. You needtools that can help youto accelerate innovation.
Solutions for Banking & Finance
Page 3Banking & Finance – Overcoming Software Development & Testing Challenges
is Inflectra's solution thatmanages complex embedded systems that require risk management andreporting, with traceability, baselining and workflows that streamlinecompliance.
SpiraPlan enterprise-level portfolio management
Inflectra has the created a single powerful platform to hel
p you develop,test, and manage your software assets, mission-critical applications andcore financial systems , while ensuring compliance and minimizing risk.
Tools You Can Trust
Solutions for Banking & Finance
Page 4Banking & Finance – Overcoming Software Development & Testing Challenges
Traceability & Compliance
Our platform gives you
from therequirements, to testcases, defects,development workitems, , andresources.
end-to-endtraceability
source code
Audits & ReportingOur platformautomatically maintainsa of allactions in the system,with onall activities forregulators andmanagement.
secure audit log
powerful reports
Automated TestingSave time testing yoursystems for compliance.Our platform includes
thatgenerate test scenariosand scripts directly fromyour runningapplications.
automation tools
RequirementsVerificationUsing our SpiraPlanintegrated
platformlets you manage and
, policies,and regulations.
requirementsand testmanagement
test all of yourrequirements
Risk Management &MitigationWith SpiraPlan, youhave integratedenterprise riskmanagement capabilitiesthat let you managerisks across
.programs,
projects and portfolios
Security & PrivacyAll of our productsprovide powerfulsecurity and privacytools to ensure yourdata is secure, whetheryou choose to deploy
or in our.
on-premisesecure cloud
Functionality for Compliance in The Financial Sector
Solutions for Banking & Finance
Page 5Banking & Finance – Overcoming Software Development & Testing Challenges
In addition to the usual testing requirements that ensure that a systemworks in accordance with its requirements (functional testing), handles theprescribed load (performance testing) and is secure (vulnerability testing),financial systems have to meet a whole host of constantly changingregulations from organizations that include the Securities and ExchangeCommission (SEC), European Central Bank (ECB), the US ConsumerFinancial Protection Bureau (CFPB). Since 2001 alone, there have beenmyriad changes to financial laws: Sarbanes-Oxley (SOX), Basel II, Dodd-Franks, FATCA, to name a few. Each time these changes in the regulatorylandscape require changes to test plans, validation procedures and systemrequirements.
SpiraPlan from Inflectra provides the premier solution for managing all ofyour requirements, test cases and validation scenarios in a central, easy tomanage repository.
In addition, financial institutions are not in the business of developingsoftware – and consequently the tools needed to support the softwaredevelopment and testing activities need to be easy to use, provide theneeded functionality out of the box, and have a low total cost of ownership(TCO).
Regulatory Compliance
Financial Services systems present unique challenges for softwaredevelopers and testers. Regulators are very concerned about goodprovenance over the software being developed. Controls, processes andtechnologies for managing change to the system must be developed anddocumented. The system needs to be tested not just against the functionalrequirements from the customer, but also against the book of mandatedpolicies and regulations.
Overcoming Software Development & TestingChallenges in Banking and Finance
Solutions for Banking & Finance
Page 6Banking & Finance – Overcoming Software Development & Testing Challenges
Overarching Policies & Requirements
SpiraPlan lets you have projects that share their artifacts with other projects.This powerful feature lets you have projects that reuse components,features and tests from other projects. In addition, you can sharerequirements between projects so that you can view all of your requirementsin a single list; those from the current project and those from any componentprojects being included:
When you have to test and develop against both requirements defined for aspecific system as well as an overarching set of mandated policies andregulations, you need to have the ability to define core mandatedrequirements that are shared between projects as well as project-specificfeatures, use cases, and user stories:
Solutions for Banking & Finance
Page 7Banking & Finance – Overcoming Software Development & Testing Challenges
For banks and other finance firms, requirements traceability is not optional,all changes to core systems must be validated and shown to be managed inaccordance with the defined processes, procedures, roles and regulations.You need to have an Application Lifecycle Management (ALM) solution thatprovides you the optimum mapping between requirements, tasks, softwarecontrols, test controls, pre-production staging builds, and releases.
Traceability
Solutions for Banking & Finance
Page 8Banking & Finance – Overcoming Software Development & Testing Challenges
Securing the codebase is another key ingredient to prevent securitybeaches and vulnerabilities. With SpiraPlan, you can see real-timetraceability between each change in the code base and the associatedrequirement, task or defect that made the change necessary. This real-timetraceability lets you find unauthorized code changes and prevent securityvulnerabilities before they happen.
Security & Privacy
When there is a breach in a website or consumer application it is badenough, but when there is a security breach in a financial service system,the costs and regulatory damage can literally ‘break the bank’. When youneed tools to help you keep track of your security requirements, testingactivities and associated defects, SpiraPlan is your best choice for testmanagement with its built-in version control and audit-log, you can see whomade changes to each artifact in the system.
SpiraPlan provides you with ability to manage the entire end-to-end processof developing and testing software in accordance with your definedprocesses. It simplifies the reporting, making it easier for you todemonstrate the linkage between your policy attestations and the final coderelease.
Solutions for Banking & Finance
Page 9Banking & Finance – Overcoming Software Development & Testing Challenges
Rapise includes a powerful data-driven, scriptless test design and executionlanguage called Rapise Visual Language (RVL). This simplifies the processof creating large-scale data-driven regression tests that allow you to testlarge volumes of complex transactional data against your core systems.
Transaction Processing
When you are dealing with testing financial transactions containing largevolumes of highly precise data, manual testing doesn’t cut it anymore. Whenyou need to automate your system testing, our Rapise
is ready to help. Rapise has been built from the ground-up tosupport the testing of desktop, web and mobile applications in a single easyto use platform. Now you can use the same tool to test the back-officesystems and the mobile applications used by customers in the same set oftransactions.
test automationplatform
In addition, your ALM solution needs to provide sufficient security andprivacy controls so that your code data is secure and maintained withintegrity. SpiraPlan is available both as an on-premise solution and as asecure cloud service, giving you multiple options that best align with yoursecurity policies.
Solutions for Banking & Finance
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Banking & Finance – Overcoming Software Development & Testing Challenges
SpiraPlan has been designed for agile processes from day one. Theplatform makes the requirements management process a fluid and dynamicexperience, with real-time dashboards and visual planning boards to enablereal-time collaborative planning and prioritization.
Speed and Agility
Speed, both in the development process, and in the systems themselves.Financial software needs to be released quickly and need to work speedilybecause trading in the financial markets is a race among competing firms.
With its powerful support for data-driven testing, built-in mathematicallibraries and easy extensibility, Rapise is your best choice when you need totest and validate complex algorithms.
With the rise of high-speed trading and automated trading platforms, youneed testing solutions that can handle large volumes of real-time data. Withour Rapise automated testing platform you have a system that can handlethe load.
Complex Algorithms
Solutions for Banking & Finance
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Banking & Finance – Overcoming Software Development & Testing Challenges
SpiraPlan is flexible in its approach, with a methodology-agnostic designthat lets you work in a hybrid methodology that is tailored to your business.
However, although banks and finance firms are heavy users of Agilemethodologies and DevOps, due to the need to support regulatory reportingrequirements, companies need to adapt agile to include additional steps andartifacts that are not strictly agile. You need tools that are agile in nature, butprovide flexibility to include waterfall steps, use cases, item dependencies,and other traditional needs.
Solutions for Banking & Finance
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Banking & Finance – Overcoming Software Development & Testing Challenges
SpiraPlan provides a robust set of REST and SOAP APIs that are versionedand maintained, with the ability to run code written over ten years agoagainst the current version, unchanged.
A key feature of ALM tools that you need to consider is data portability andinteroperability. For European companies, the General Data ProtectionRegulation (GDPR) mandates such functionality. You need to make surethat your ALM platform has a robust set of versioned APIs that are activelymaintained and developed. Such APIs will let you integrate the data in yourALM solution with your other systems (billing, document management, etc.).
Data Interoperability
Solutions for Banking & Finance
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Banking & Finance – Overcoming Software Development & Testing Challenges
Business knowledge is important for testers in any domain, but particularlyin financial services, where the business itself and technology are becomingincreasingly intertwined. Our partner network includes industry partners thatunderstand your business and can help many any implementation of tools asuccess.
Domain Expertise
Solutions for Banking & Finance
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Banking & Finance – Overcoming Software Development & Testing Challenges
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