Enabling Wealth Management Testing Services for Predictive Quality
Coforge combines its wealth management industry knowledge with its testing expertise to deliver a focused solution to our clients. Our testing solutions are designed to help wealth management institutions achieve success with their programs. We help clients scale from individual projects to Testing Centers of Excellence in different phases of the lifecycle—Agile or Hybrid. Our matured business testing processes combine best practices, deep domain expertise, and test accelerators to test all types of financial platforms in a robust and proven way
Changing industry dynamics, competitive pressures, regulatory compliances, demanding customers, and business partners are increasingly straining IT budgets. This, while business continues to expect the highest level of quality for their systems. Add the Internet of Things (IoT) to the mix—IoT is shaping how organizations interact with their customers, partners, and employees—and you have the perfect impetus for wealth management institutions to become more agile and flexible for uninterrupted growth while ensuring compliance. The success of agile environments necessitates foolproof testing within shorter timeframes. To succeed in such environments, wealth management institutions need end-to-end testing solutions to mitigate business risks and costs.
Coforge has proven experience of over 16 years in servicing wealth management institutions. Our dedicated wealth management practice has over 5,000 person years of solutions delivery experience.
Wealth Management Business Drivers
Our integrated test accelerators portfolio comprises an effort optimizing tool, ROI analyzer, process maturity facilitators, Web and mobile automation scorecards and frameworks, an orthogonal arrays-based test coverage maximizing tool, risk-based testing, analytics-driven monitoring and continuous improvement framework, and cloud-enabled mobile testing lab. This helps us to offer enhanced test coverage and reduce overall testing cycle time—resulting in reduced total cost of ownership and time-to-market. Below are some examples:
ASE2 T (Automation Simplified End-to-End Testing) Accelerator is user-friendly, excel data sheet, and VB scripting-based framework for optimum automation and quick ROI. It provides 16%-20% faster ROI than other frameworks.
Risk-based testing utility helps in driving priority-based testing through score card-based risk analysis. It provides 10% reduction in production defect leakages.
Multi-channel experience (advisors and customers) validation based on our proprietary wealth management digital maturity assessment toolkit.
Our Domain-centric Testing COE Delivers Business Results
We drive quality and productivity by offering comprehensive testing strategy and execution—both functional and non-functional—for all wealth management business processes, multi-channel transformation, and automation programs.
For agile-driven projects, we define the testing focus early using risk-based analysis and implementation of governance principles of business outcomes including cost, quality, and time-to-market.
Case Study: Wealth Management Platform Testing
45+ software products supported
350+ releases per year
~50 products tested
~200 functional modules tested
Created and executed test suite (16000+ test cases)
SP-self tester to facilitate self-execution of end-to-end testing
Used wrapper—MATT (Mainframe Automated Testing Tool)—for testing in mainframe
App scan for Web security testing
Reduced testing cycle time by 20% to 30%
Reduced TCO and Optimized costs by 20% to 25%
Delivering More Value
More Savings:Up to 50 % reduction in test execution costs
More Agility:20% to 30% reduction of test cycle time
More Satisfaction: 10% to 15% increase in software change requests handled/month
More Stability: 35% to 50% increase in testing environment’s stability
More Accuracy: No critical defects in production
More Flexibility:Ability to scale up or scale down through a range of flexible and predictable engagement and pricing models
More Automation:60% to 70% automation of business critical test cases and regression test cases with ROI in 5 to 7 cycles