New measures from QA Vector® Analytics show wide variation in effort devoted to fixing software defects
The Bank of England has agreed to partner QA Media, a London-based information business, with a three-year subscription for a new service that allows banks and other financial firms to compare the effectiveness and return on investment of their software quality assurance processes.
Read More: M Financial Group Licenses FAST Software to Enable New Digital Ecosystem for Member Firms
QA Vector Analytics is a unique platform, said QA Media, that meets a critical need; financial services are fundamentally dependent on software systems and major outages have illustrated the need for inspectable, agreed standards for software quality assurance and testing.
“The Bank of England is pleased to be a partner in this project, especially as it has been created by a UK-based information company that has an international customer base,” said Jordan Daniel, Domain Lead, Quality Assurance and Productivity at the Bank of England.
Read More: Simple Announces Launch of Tax Refund Feature to Automate Savings for Customers
“While our participation in the project is partly aimed at benchmarking our own internal software development processes, we also see a growing need for benchmarks for software quality and resilience that can be shared by banks and other financial firms. The launch of QA Financial Vector Analytics is especially timely as those firms have been re-assessing their software platforms in response to the impact of Covid-19 on their customers and their own development teams.”
“Our research shows that the success of financial institutions depends on delivering more software, more quickly, to their business teams,” said Justyn Trenner, who heads the QA Vector Analytics platform. “But they still struggle when it comes to knowing how effective their quality programmes are and whether they are spending enough, and can justify incremental spend, on QA and testing. Since testing can account for as much as a third of total IT expenditure and remediation costs can be as much as half of all development project spend, benchmarking this properly has the potential to drive major efficiencies.”
Read More: smartTrade’s Solution Awarded Best Multi-Asset EMS System by Markets Media
