Load & Performance Tests for the Finance, Banking, and Insurance Industry

by | May 12, 2020 | Crowdtesting, Finance and Insurance | 0 comments

We’ve already learned how bugs kill trust – especially in a sensitive industry like the financial industry.

However, bugs aren’t the only thing that can affect your business negatively. When developing digital products in the finance, banking, and insurance branch, you should also have a close look at page load times and site performance
Let me show you why. 

How Load Times Affect your Business

“Speed equals revenue” – that’s not something I’m mentioning because it supports my argumentation – it’s actually a quote from Forbes. And they should know, right? 😉 
Still not convinced? Let me give you an example.

Let’s imagine you want to open a new bank accountonline, of course. We’re in the year 2020, right? So, you’re looking at different banks and want to compare their offers. Will you even consider a bank whose website loads really slowly? Will you wait and wait until you see the full content? Or will you more likely abandon the site after a few seconds

If you don’t then I really respect your patience, but let me tell you: most customers won’t wait longer than a few seconds for a website to load. A Google study found that if page load times go up from 1 to 6 seconds, the probability that a mobile visitor leaves without looking further at the content (bounce rate) increases by 106%

“Loading time delays not only result in poor user experience but also mean lost revenue for brands and companies.” Again, that’s not me saying this, but Mark Wächter, Chairman, Mobile Marketing Association Germany, on medium.com
The truth is, page load speed will impact your entire business as customers increasingly form their opinions based on loading speed. This can turn out to be a problem, but it’s also an opportunity

The average website in Germany loads in 2.625 seconds (data from April 2019) – how long does your website take

Too few companies make speed a priority, so this is your chance! Be faster than your competitor and your visitors’ first impressions will be positive. Good for your brand and your revenue, without even considering your product itself. 

So, as we saw, page load times and performance really matter. The good thing is, you can make that your advantage: stay ahead of your competition with fast loading times and great performance

How to Use Load & Performance Tests for Banks, Insurances and the Financial Industry

Before you can improve your performance and page speed, you need to know what your starting point is. There are some technical tools out there like the Page Speed Insights from Google, which can give a first insight. But testing is still necessary – especially in the finance, banking and insurance sector.

Your users are entrusting you with very personal data. So, the performance of your digital product should be error-free and secure – be it a banking app, online banking, or an application route. Your product is expected to be available 24/7, 365 days a year
If I want to transfer money in the middle of the night, my plans shouldn’t be hindered just because there’s a software update running.
I should also be able to check my financial status during peak business hours or at the beginning of a month when everybody has to pay a lot of bills. 

Or, in another scenario, imagine you spent a lot of marketing budget to advertise your newest feature or a new product and then you find out that your website can’t handle the load. That would be a mess, wouldn’t it? 

That’s why you should do one thing: test, test, test, and then test again – in all likely scenarios. Find out how your banking experience will be displayed on different web browsers, different operating systems, and different internet speeds.
Load testing helps you estimate how much traffic your digital product is able to handle and if that’s enough for your plans. It is always better to find performance errors before your users do. 

Crowdtesting can definitely help you with testing load and performance. The testers in our Crowd have more than 900,000 different devices and can create an enormous traffic load. When creating this load, we use load testing tools like JMeter, which means that you will get results that are very close to reality.

If you have questions or are ready to start a test, feel free to contact us. We’re happy to help and find the right testing solution for you and your digital product

Share it if you like it:

Tag Cloud

About the author

Kenneth Ma

Kenneth Ma

Sales Manager

Kenneth is our expert for the finance, banking, and insurance industry. 

Categories

Links

Rate this post

Other content that might be interesting for you:

Pizza, Beer & Bugs – “Usability Testessen” at Testbirds

We proudly announce that Testbirds will be hosting the next “Usability Testessen” on April 10th in our Munich office. When we first heard about the...

Crowdworking – Die Zukunft der Arbeit?!

Wie verändert die Digitalisierung unsere Arbeitswelt? Ersetzen uns zukünftig Maschinen? Hat der klassische Arbeitsplatz, wie wir ihn bislang...

The countdown for MWC 2019 begins! Win a ticket to our exclusive event

It's almost our favorite time of the year. Only one month to go before the Mobile World Congress in Barcelona! From February 25-28, we are back...

Quality Assurance at Testbirds – What’s new?

It has now been nearly two weeks since the launch of Testing 4.0 and our new website. The entire Testbirds team is extremely happy about how things...

Updated General Terms and Conditions

On November 1st, 2016, we will be updating our General Terms and Conditions. Here at Testbirds, transparency is one of our core values. In this blog...

C+UX: Where Customers and Users are the Center of Attention

Slightly different than the original plan, but still a great start for the event season 2020: Meet us at C+UX in London on March 18th & 19th. As...

Webinar Recap | Adding the Human Factor to Agile Development

Recently we hosted a webinar together with Deutsche Telekom where we discussed the pros and cons of crowdtesting vs. test automation and introduced...

Industry 4.0: The Next Industrial Revolution

Streamlining production, increasing efficiency and decreasing costs of operation are top priorities for all companies. The advent of technology and...

MWC Raffle – Hall of Fame

It might sound weird, but we cannot wait for Monday. On this day Mobile World Congress 2017 will start and we are very happy to be a part of it. As...

Card Sorting – What, how and why?

"Card sorting is a UX research method in which study participants group individual labels written on notecards according to criteria that make sense...

Testbirds specialises in the testing of software such as apps, websites and Internet of Things applications by using innovative technologies and solutions. Under the slogan, “Testing Reality”, the company offers various testing methods to its clients looking to optimise the user-friendliness and functionality of their digital products. With over 250,000 registered testers located in 193 countries, Testbirds is one of the world’s leading crowdtesting providers. In addition, the IT service provider utilises cloud based technologies to support customers in the optimisation of their digital products. The combination of the two testing methods delivers a unique and extensive portfolio that takes the quality of software to the next level. Testbirds was founded in 2011 by Philipp Benkler, Georg Hansbauer and Markus Steinhauser. Today, the company has over 100 employees. Other than its headquarters in Munich, there are now offices in Amsterdam, London and Stockholm, franchises in Hungary and Russia and sales partners in Italy.

© Testbirds GmbH. All rights reserved.

Subscribe to the Testbirds Whistler!

Receive updates on our innovative testing services, webinars, brand-new Nest features!

You have Successfully Subscribed!

@ Contact