Banking Business Model And Requirements

To remain competitive, banks have to relentlessly innovate with new business ideas and offerings. Companies operating in the banking, financial services and insurance industry have to constantly upgrade their software applications to rapidly adapt to this ever-changing business environment.

The traditional outsourcing model followed is that the business user defines the requirements for the software. Development vendors create detailed functional specification based on these requirements. They, create/customise software for business users to test and accept. They also maintain the software for any changes.

This model relies on the following assumptions:

Business teams articulate Requirements completely
- Many implicit requirements may not be stated or documented as business users assume that the vendor is aware of such requirements. They may get missed out due to lack of domain knowledge of the vendor.
Vendors understand requirements sufficiently and will deliver to 100% specification
- May not happen due to tech centric approach of the vendor
Requirement changes & their impact is well managed and realized in software
Validation by Business user /DV teams provides complete requirement coverage
- Shortage of time/testing expertise may result in inadequate testing
Software stability & hence low emphasis on regression testing
- Criticality of regression testing may be missed out

Thus in reality, software delivered often has a 10% error rate at the UAT stage.

Recognizing the shortcomings of the tech-centric approach - the upside risk of requirements not being captured completely and the downside risk of testing not being covered adequately, we offer a business-centric approach to ensure the complete coverage of your business requirements in delivered software.

In this approach, a specialist testing partner brings in the "Business Requirements Assurance Process". Right from requirements to rollout, a business perspective is brought in to ensure that the requirements 'desired' by business are 'delivered' in the software.

During the requirements phase, the partner helps document the requirements comprehensively and conducts a gap analysis on vendor documentation to ensure that the gaps are eliminated.

Subsequently, requirements driven test planning ensures functional coverage in testing. Rigorous test execution and management enable tracking & closure of all identified issues.

Ongoing release testing by the specialist partner ensures appropriate regression coverage.