In the banking industry, consumers increasingly demand digital tools to execute transactions and access services that banks and other financial institutions offer. Ease of use, convenience, personalization, and 24*7 services are among the significant factors driving this consumer demand. In line with this surging demand, organizations compete to deliver the best mobile banking applications and websites that facilitate everything from checking account balances and transferring money to availing loans and trading stocks.
Banking applications have a complex structure, as they accommodate multi-layered workflows and offer a wide range of features. In addition, as these apps deal with sensitive data, including customers’ financial and personal information, the level of data protection should also be flawless. Hence, software testing for banking applications needs to be designed with utmost precision, as the lack of test coverage can lead to data breaches, loss of funds, banking fraud, and other felonies.
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