Against this backdrop there is increased regulatory legislation and compliance. All payments must be vetted to ensure both their authenticity and funding, and against various watch-lists – anti-money laundering, anti-terrorist financing etc. Further, the banks’ clients now expect the ability to initiate payment transactions from a gamut of devices from the ERP (Enterprise Resource Planning) and TMS (Treasury Management System) systems of large corporates to the mobile devices of millennials.
The only certain feature of banks’ payments infra structure today is change, and the amount of change is at historically unprecedented levels. With the huge risks – business, financial, regulatory and reputational - to banks of failures in their payments infra structure, the importance of testing in this area has never been greater.
Download this paper produced by Finextra and Iliad solutions examining the quality of the payments-related testing approaches and systems used by banks operating in the UK. It also sets out the obstacles currently preventing them from moving from limited automation and obsolete processes, to a completely new approach based on a strategic investment in technology to rationalise, simplify and fully automate their testing.