Crowdtesting for the Banking and Finance Industry
The banking and finance industry is in the midst of change. QA, UX, and data security are now becoming key competitive advantages.
Learn how Crowdtesting can help you with this.
The biggest “pains” for banks and insurance companies
It doesn’t matter whether we’re talking about mobile banking apps, digital insurance advisors, or optimized application routes. At the end of the day, every digital service in the banking and finance sector can be assessed according to three criteria that are always valid: Does it work? Is it easy for customers to use? Is it secure? Therefore, in terms of testing those digital services, we’re talking about the areas of Quality Assurance (QA), Usability & User Experience (UX), and Security.
In the area of QA, our wide range of testing services ensures that your digital product works flawlessly and without problems. In the financial sector especially, a non-functioning product quickly reflects on your overall image and thus on your brand.
The same applies to data security. It’s not only following the introduction of GDPR that consumers have a fine feeling for their data and its protection. In the banking and finance industry, where you’re dealing with highly sensitive customer data on a daily basis, security is a top priority. It would be disastrous if data were to become public due to a bug or a hacker attack.
UX has now become much more than a buzzword in the banking and finance industry. More and more customers use online and mobile services, and for many people, going to a bank branch or insurance agent has become an anomaly. This makes it even more important to design a digital product that your users can understand and use easily. After all, the conversion rate and, ultimately, your revenue depend on it.
How we can support you – three hands-on examples
Digital Application Routes
If your digital application process doesn’t function properly, whether due to bugs or poor user guidance, you will lose potential customers. The conversion rate drops and sooner or later your turnover will also drop. To prevent this, extensive QA and UX testing is essential.
In the area of QA, for example, the Crowd conducts bug tests and thus ensures that your application runs perfectly on every device, with every software version, every operating system, and every browser.
In the area of UX, remote usability videos, among other services, give you the chance to watch testers from your target group use your application, so you can easily see where difficulties arise.
Artificial Intelligence (AI)
The use of artificial intelligence (AI) is becoming increasingly important for companies in the financial industry. But new technologies also bring new challenges. How do I check the quality of my chatbot, where do I get training data? With the help of our chatbot and AI tests, you can uncover weaknesses in information processing and natural language processing.
Training data, which can include dialects and background noise if desired, will help you close language gaps and provide your customers with an optimal experience.
More and more banks and insurance companies are setting up their own digital factories to develop and implement new technologies and ideas. They rely on agile development methods with short sprints. Thanks to our global Crowd, which is ready for action 24/7, Crowdtesting provides you with optimal support.
We implement your tests flexibly and promptly so you don’t have to wait long for first results. In addition, bugs can easily be converted into feature requests on Jira and other issue trackers.
“Especially the fact, that Testbirds was able to find exactly the right testers, was a decisive factor for us to work with them. Only a test with our special target group makes sense for us. Furthermore, the company is a very flexible service provider and has managed our projects quickly and smoothly.”
“How does the app work outside the lab and under not ideally conditions? Does everything run smoothly? How satisfied is the customer and is the app easy and intuitive to use? We wanted to sort out this kind of questions with the help of Crowdtesting.”
The new Payment Service Directive (PSD2) was supposed to take full effect in September 2019 – at least that was the original plan. Open banking has become part of the landscape for consumers, but for banks, there is still some way to go.
The financial and banking industry is changing both massively and quickly these days. Digitalization is occurring in every industry and banks, insurance providers, and other financial companies have to adapt, as well as compete with entirely new players from the fintech world.
There’s probably nowhere else where a customer’s trust in a company and product is more important than in the finance, banking, and insurance sector. A bank or insurance company deals with highly valuable private data and customers put their trust in them to take care of their money.
Digital application processes have become indispensable in today’s banking and financial world. Whether onboarding new customers or filling out a credit application, the quality of your application route determines whether a prospect becomes a customer or switches to the competition.
OUR TESTING EXPERTS ARE HAPPY TO HELP
Do you have questions about testing in the finance, banking, and insurance industry? Would you like to have more information on how we can help you make your digital products even better? Just send me a message, I’m happy to get in touch with you.