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The increased potential cost of glitches in finance software means that companies that put out this software should take these defects seriously and take measures to prevent them from making it to production.
Services, like Bugwolf’s digital cleaning, can take the guesswork and stress out of software testing.
Challenges Posed By The Finance Sector
While each market vertical poses its own unique challenges, the increased liability the finance sector faces makes their challenges more significant.
Protect their brand and reputation - Finance companies live and die by their reputation. The broken trust caused by a software defect in production can be difficult if not impossible to repair. It’s not only security breaches but also functional defects which can cause havoc.. If a potential user has issues using the application or website, they’re not likely to trust the code running behind the scenes.
Mitigate politics and build a positive culture - Coming from outside the company can have the benefit of approaching problems with a fresh set of eyes. This also helps to alleviate the stress that comes from internal teams testing under pressure later in the software release cycle, which many digital teams experience.
Gain greater efficiency and speed to certainty - Certainty is the point when you have enough confidence in your code to deploy it to production. Because of the importance of stability in the finance sector, this can take a long time. Companies like Bugwolf also typically test outside of normal business hours. Workers can leave for the night and come back with a freshly cleaned application.
Recover project time in delivery schedules - When software testing is handled by experienced testers overnight, it will shave time off of the project and ensure your employees can focus on their core role, rather than having to stop development to test. Delivering software updates quickly to market means that you’ll always be ahead of the competition.
Better manage gaps in test automation - Not everything in your application can be automated nor should it be. Some aspects of your application require a real human to review, test, and clean. These gaps in automation need to be managed properly so bugs and defects don’t slip through the cracks. Also, when applications have a high rate of change software can become unstable and can be more suited to manual testing.
These challenges can be daunting but they can be handled by experienced companies who have worked in the finance sector.
Bugwolf in Finance: A Case Study
Bugwolf has digitally cleaned thousands of apps for organisations. . When they begin working with a client, they hit the ground running. In this particular case study, within 36 hours they had conducted a kick off call with the clients digital team, secured access to their application, completed their initial digital clean of the app, triaged the results, and delivered the reports to the client for remediation via their software platform.
Digital Cleaning - Timeline
Conduct a client kick off call - A 15-30 minute video call with the client team where Bugwolf gathers the data required to get started, including the features out of scope, which browsers and devices to test across, and the areas of the application they would like the team to focus.
Draft the guidelines and assemble the team - Once the challenge is composed, Bugwolf assembles a team of 3 testers from their vetted digital quality experts, all with a minimum of 5 years of digital testing career experience.
Launch the digital cleaning challenge - The Bugwolf digital clean is a 12-hour marathon of manual testing. This is where the assembled team will perform exploratory testing throughout the application, compiling reports of their findings.
Provide support to the testing team - As necessary, Bugwolf’s testing director will support the testing team, training them on the use of the application when complexity requires it.
Turn the reports into short videos - When a tester finds a potential issue, Bugwolf provides a video of each bug report using their own proprietary technology, making it easy for the client to review, diagnose, and remediate the issues at a rapid pace
Triage the reports ready for remediation - Finally, the triaged reports are delivered to the clients team for review. At this point, they can decide which bugs have the highest priority typically based on a severity weighting.
Digital Cleaning - Results
In this particular digital clean, Bugwolf discovered 79 reports of varying priority levels: 12 low, 57 medium, and 10 high.
These reports were across multiple devices and browsers. Some example reports include:
- In Internet Explorer, on Windows, the processed date on the Transaction Account Details page always defaulted to “05 JUL 2018”.
- When running Google Chrome on macOS the “Terms and Conditions” hyperlink from the manage pay ID page was not redirecting to the appropriate page.
- On the iPhone 6, users were able to transfer money with the transaction date in the past.
Once the reports are submitted to the client, not all will be accepted. After all, sometimes what a tester may see as a defect is intended behavior. In this case, though, 81% (64 out of the 79) of the reports were accepted as defects.
Digital Cleaning - Return
As in all business, but especially when dealing with the finance sector, it all comes down to money. What was the financial benefit or the return on investment for this company when it came to using Bugwolf’s services?
In order to figure that out, we need to calculate the cost to remediate these bugs if they were found in production. Each high priority defect was assigned a cost or value of $1,125. The medium level defects were priced at $488, and the low priority defects at $188. So the costs of the accepted reports would have been:
- 8 high priority defects totaling $9,000.
- 46 medium priority defects totaling $22,230.
- 10 low priority defects totaling $1,800.
The total cost of these bugs, had they been found in production, would have been $34,379. Because they were found by Bugwolf in the clients test environment, however, the cost to the company was only $1,349. That’s a return on investment of 2,548%.
By utilising Bugwolf’s proprietary software and conducting their digital cleaning overnight, the client reduced their software release from 1 month to 3 weeks, on average gaining them 90 days a year across a single application. Prior to working with us app or website updates were not frequent or shipped late, released with glitches, and teams were under pressure and stressed.
Software stability in the finance sector is important, both to building trust and reducing liability. With the extreme ROI gained in this case study, it’s clear that using a platform like Bugwolf can make all the difference when it comes to protecting your digital brand and reputation.
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