The financial services sector is the backbone of modern economies, entrusted with safeguarding trillions of dollars in transactions daily. With the Digital Operational Resilience Act (DORA), financial institutions are now mandated to bolster their operational resilience. While DORA encompasses a broad spectrum of requirements, functional testing emerges as a critical enabler to ensure business continuity and compliance.
Despite being at the forefront of innovation, many banks and financial institutions rely on legacy systems to handle their core operations. Testing these systems often involves manual processes, siloed teams, and outdated workflows. Such limitations lead to:
DORA raises the stakes by emphasizing resilience. Financial institutions must now ensure that all systems, applications, and processes undergo rigorous testing to validate their ability to withstand disruptions. This shift demands functional test automation to drive compliance while staying competitive.
DORA mandates continuous testing throughout the software lifecycle. Adopting a shift-left testing strategy allows institutions to identify and resolve defects early in the development cycle. By integrating functional testing into the initial phases, banks can:
For instance, automated functional testing enables thorough validation of payment workflows, loan approvals, and account management processes, ensuring that every function aligns with regulatory standards.
One of the biggest challenges in maintaining legacy systems is ensuring that new updates or integrations don’t break existing functionalities. This is where automated regression testing becomes indispensable.
With tools like Avo Assure, financial institutions can:
Stat Alert: Research indicates that automated regression testing reduces defect leakage by 40% while accelerating testing cycles by up to 60%.
Avo Assure’s no-code automation platform is purpose-built to address the unique testing challenges of financial institutions:
By adopting automated functional testing with Avo Assure, financial institutions can achieve:
The era of manual, fragmented testing is over. To thrive in a DORA-regulated environment, financial institutions must embrace automation and functional testing at scale. Avo Assure offers the tools, strategies, and insights to help you transition seamlessly while maximizing efficiency. Our AI-driven, no-code platform delivers continuous quality assurance across key business processes and supports over 200 technologies. With efficient test data management and machine learning capabilities, our platform enables teams to enhance quality, conduct efficient data validation, and reduce time to market.
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