Report provides an unprecedented look at how leading financial companies test the software that their business – and the world – relies on
Tricentis, the world’s number one platform for modern cloud and enterprise applications, announced the latest edition of its report, “How the World’s Top Organizations Test”, analyzing how financial industry leaders test the software their businesses rely on. For this analysis, Tricentis collected data from 110 Fortune 500 (or global equivalent) financial organizations – including banking, insurance, payments providers, financial services, and more – across Europe, the Americas, and Asia-Pacific.
“Enterprise financial organizations are complex, highly regulated environments”
The latest analysis in Tricentis’ broader longitudinal study on how the world’s top organizations test includes the following findings:
- Overall, financial organizations’ testing processes are 29% more mature than their peers in other industries and they are 2.5x more likely to have automated tests fully integrated into their CI/CD pipeline
- Test coverage at financial organizations is nearly 50% more mature than in other industries
- Financial organizations are more likely to start adopting critical continuous testing elements — but are less likely to have mastered them
- Banking organizations scored 42% better on test automation than organizations outside the financial industry
- Insurance organizations lead the pack in terms of test data management with their overall test data strategy being 63% more mature than those outside of the financial space
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“Enterprise financial organizations are complex, highly regulated environments,” said Jori Ramakers, director of customer experience strategy at Tricentis. “Thoroughly testing their financial systems as they evolve at speed can be as dire as it is daunting. There’s absolutely no room for error. Even an easily overlooked ‘glitch’ could result in regulatory compliance investigations and penalties.”
“But if these systems were already difficult to test in the era of quarterly release cycles, what’s happening now that software is evolved in a matter of days… or even minutes? By exploring the latest testing trends in the financial industry, we aim to answer this question and more, and help organizations reduce their testing burden so they can release quickly to an increasingly competitive market.”
