Tag Archives: Application

Finance

Manage Business’ Accounts Easily Through Android Finance Application Development

To keep up the pace with the existing world, you need to move along with the advanced technology in parallel. Although it might sound very simple but in reality, it demands a lot of hard core knowledge, time and money! Whether you are opting for the simple technological equipment or the complex one, the need of technical knowledge is very much on demand. The most prominent form of technological development can be seen through the mobile technology or, mobile application development specifically!

Mobile Application Development!

In the mobile world, advancement is an ongoing mechanism that is generally encountered! The basic reason behind this is the dependency of people towards technology. Communication technologies are always been a source of interest among people and while it is wireless technology then, it is best incorporated through mobile technology.

Mobile applications are the applications that are programmed for specific features so that, when it is incorporated on to a mobile, it can offer people with the functionalities for which it was earlier programmed! Now, it seems Android operating system is moving too fast, which can be proven through the Android finance application.

The application has been structured with the thought that everyone cannot pursue the knowledge of accountancy however the business must go on in the right direction. The accounting needs of the organization are such, which cannot be ignored and complexities of the accounting calculations are somewhat another part that again needs to be managed efficiently. However, the laborious work can be easily managed through the Android finance application development. With the Android finance application development services, you would be able to perform flawless calculations, access calculators, use currency convertors and many things that will help you in making your accounting task easy. Also, with the help of Android Finance application, the need of accountant in your organization can be eliminated, which can help in the process of linearization. The Android mobile can efficiently manage both the needs of large organizations as well as small enterprises.

If you think that, mobile application development is not your cup of tea then, you can approach an Android finance application development services provider firm! These firms offer their expert techies who offer their dedicated intellect in order to formulate the mobile applications.

Nowadays, a mobile application is just not restricted till games and songs but it can be incorporate for meeting the business needs. Google has thus come up with another option to delight its users!

OpenXcell Technolabs is a firm that offers mobile application development services. The firm has even gathered its expertise in the field of search engine optimization services.

Banking

Overcoming the Challenges Faced While Testing a Banking Application

In my previous article “Is Testing Banking Application a Nightmare – Know Why?” I described the challenges testers face while testing a banking application which makes it his nightmare. This article would be dedicated in finding out various strategic approaches to overcome those challenges mentioned earlier.

Approaches to Overcome the Challenges:

1. Monitor regression testing throughout the application lifecycle: Regression testing is crucial to monitor throughout the app lifecycle so that the test suite is administered and sustained across releases, set under version control, and linked to requirements. Test cases that would be used in test environment should be precise enough to set the expectation regarding test data. The following approaches can used to achieve cost effectiveness:
• Risk based testing
• Test Automation
• Off-shoring or outsourcing to third party testing vendors
 
Ideally, the organization should always think about risk based testing before automating test cases outsourcing the test activities. The goal should be to reduce the number of tests to be executed for every release cycle thus keeping the risk in threshold range.
 
Defect rate per executed test during regression testing is always high in case of new functionality. Apart from this, majority of defects found by regression testing are due to integration issues which is the result of changes made in one component that is being used in another component. Hence, regression test needs to cover higher level integration test.
 
Test automation is an effective way of reducing cost of regression testing. The main reason behind this is that the automated test suites can be run multiple times during every release cycle without too much maintenance effort. 
 
Off-shoring testing activities to countries with lower labor costs is another way that should be combined with risk based approach and test automation. 
 
2. Ensure test data usage meets regulatory compliances requirements and guidelines: In order to maintain data confidentiality, we can use following two ways: 
 
• Data Masking: This method can be used to alter the data testers copy from production server in a way that it no more contains any sensitive information and can be used for testing purposes directly. The main benefit of this approach is that it gives a good coverage regarding diversity and volume of data and the option to reproduce production scenarios. However, for regression testing, data masking is not considered as a very effective option as the underlying production data can change over time and lead to different results. Hence, this method always incurs an overhead of verifying the test data.
 
• Synthetic test data: Synthetic test data is considered as an excellent approach to generate test data under the aspects of compliance, sustainability and integrity. However, there is always some gap regarding coverage as it not feasible to synthetically produce all kinds of data with all the systems. In scenarios where integrity across the systems is not necessary, synthetic data coverage can be much better.
 
3. Testing system integration and integrity of test data: To make sure that testing covers the integration of different systems and integrity of test data, one needs to test it in the test environment which is similar to production environment. Setting up such a test environment is a real challenge. Using pre-production environment with production data is the most feasible alternative one can think of. But this method involves high risk of losing on confidentiality of data as lot of resources will be using the production data while performing such test. Hence, to fulfill the demand, a dedicated system integration test environment needs to have:
 
• System Coverage 
• Operational Coverage 
• Data Coverage & Integrity
• Environment Management
 
Implementing these steps would definitely help overcome the challenges faced while testing a banking application. However, it is important to understand that sometimes the outcome of one challenge may result in complications of other challenges. Further, the more complicated system landscape is, regression testing becomes more important.

AppLabs, a CSC company is the world’s largest Software Testing Quality Management Company. Our Quality Management and Testing Services utilize its many years of banking and finance experience across the globe to support clients who view technology as a business enabler and see the importance of getting implementation right first time.

Banking

Is Testing Banking Application a Nightmare ? Know Why?

Information technology has completely changed the way banks use to operate until last decade. The criticality of banking IT systems lies in their sheer size, vast number of transactions they facilitate every minute, and wide range of their portfolio offerings. With their expansion plan mounting day by day, need to integrate the IT systems in various branches with main IT stream is becoming more challenging and complex.

 
Testing & re-testing becomes inescapable in case of banking applications as even a minute error can result in loss of repeat business, revenues and permanent damage to organization’s reputation. Further, a small mistake can put the banking & financial institution through severe legal scrutiny.
The characteristics that make any banking application a nightmare for testers are as follows:
 
1) Recurrently changing regulatory & market requirements: Increasing competition in the market via various banking products and services heaves new functional requirements for banking applications in an ongoing manner. In addition, the regulatory firms keep adding new standards which are mandatory from legal and requirement perspective, and have to be fulfilled by every banking application. As a result of this, the business application has to go through frequent releases and upgrades throughout the year and needs to be tested multiple times. Whether a bank is using customized software or a standard product, the frequently changing regulatory and market requirements affects both.
 
Test execution for every single release generally includes major portion for regression testing. It is something which is not very exciting among the testers including business users. Running these tests multiple times also increases the cost of the application.
 
2) Maintaining data confidentiality & test data requirements: Testers are more likely to use the data copied from production systems as a test data. However, recent bank secrecy laws and standards in various countries does not allow anyone to use the test data as it is from live servers so as to protect the confidentiality of the data. Banking industry, being a service provider to almost every organization in some or the other way, needs to build trust more than any other industry in order to gain its customer confidence.
 
Employing internal or external IT developers and testers use the production data for testing purposes increase the probability of legal breaches & reputational damages. The data confidentiality requirements mount with the stringency of the country specific laws and with the international distribution of business and IT.
 
3) Complex legacy & application systems: Banking applications are often too complex to understand. The know-how about each and every system involved in it functionality is scattered within and outside the organization. The dependency and integrity of one application with other further leads to complications which imply the risk of being overseen when new releases are developed. It only gets worse when legacy systems are involved having a lower level of documentation and cluttered data design. In addition, such applications root interfaces to external apps for market data and for settlement of transactions in the trading and payment area.
 
As an outcome, the data that is being used in app under test actually originates from another app that is far up the stream. This makes it difficult for testers to produce test data which suites and fulfills all the cross application data constraints.
 
Offering a risk-free transaction is the ultimate motto of every bank. But in order to achieve this objective, the applications should be put under scrutiny which demands a focused and strategic approach from testers. We will soon discuss the approaches to overcome the above mentioned challenges in the next article.

AppLabs, a CSC company is the world’s largest Software Testing Quality Management Company. Our quality management and testing services utilize its many years of banking and finance experience across the globe to support clients who view technology as a business enabler and help them deliver enhanced business value with optimized benefits. Our testing solutions for Banking and Payment Processing applications centers on helping our customers focus on most important paradigms in modern day banking – customer acquisition and retention, risk management and regulatory governance / compliance and payments.

Banking

WAP Billing: An Important Mobile Banking Application

WAP which is the abbreviated form of Wireless Application protocol, is an international standard. It allows mobile tools like smartphones, iPhones and laptops to acquire internet connection while becoming compatible with big network bearers. The ability to authorize transactions allows WAP to supersede the recent implementation of mobile banking applications through 2 way messaging (SMS).

WML (Wireless Markup Language), is a variation of HTML that is used for making applications for wireless devices through open platforms, and is used for WAP billing as well. During a normal WAP billing procedure, packets carrying data, from wireless devices use the wireless network configured according to the WML settings to travel to a WAP gateway. Certain parts of data that are crucial are rearranged and then shifted to a server that can handle HTML. server, in route to a wireless device.

The WAP solutions described are generally in two parts: 1) a WAP server that distributes information and applications and 2) a WAP gateway controlling access. operators. Presently, banks are going for a closed model for WAP banking implementations, and servers are able to stay on the main site of the network. This allows banks to release control of their information and provide access to mobile banking applications and operators. However, there is a security glitch in the closed model which happens because of unencrypted data at the server that undermines the security. Conversely an open model has the gateway and server situated within the secure environment of the bank and it can deal with such issues. However, it is a lot cheaper to install closed models, and they provide fast marketing as well.

You have to realize the fact that more usually than not it is the customers who have to manage their banking requirements. These include going to an ATM, making a deposit or transfer, or calling a call center for those dreadful customer service automatic systems. You are supposed to take the initiative in these areas of banking. Managing your bank account can never be simple, and entails a lot of labor. But, if we take benefit of the fact that there are more than four times the amount phones (smartphones, iphones, etc) as PC’s in circulation today, our life could be less troublesome. Mobile banking applications and WAP billing is being used by major banks around the world. Because of this, banking has become a lot more secure convenient and trouble free.

WAP billing is often a latest road to provide for goods. Mobile banking applications turned out to be more popular on earth. Involving our world-wide-web has already extra info.

Finance

Iphone Application Development – Business And Finance

But this does not hold true. It has great features to be a useful device for business and finance like fields. You will find plenty of Apps in Apple store for business and finance but all are not useful at some extent. Here I have sorted some Apps for business and finance categories that may prove helpful to you personally and in business as well.

Mobile Banking

You might need banking everyday and anytime therefore, Bank of America has developed this App for their clienteles. So it is useful for those who are members of the Bank. It is optimized version of their website’s online banking with easy to use user interface. It allows you to check your account balance at anytime and anywhere basis. You can pay your bills, transfer funds, etc right from your iPhone. You can save a lot of time and energy to visit nearby branches of the bank. There are other banks in queue to make such application for their patrons on iPhone and iPad.

PayPal

World’s biggest money transfer network is offering its services for mobile users by creating App for iPhone. It nearly has made our wallets obsolete and accumulated all its great services in a touch screen. You can access your PayPal account from anywhere using the PIN and password. This App supports 16 different currencies so you can pay bills in any country in the world. It lets you to check your balance and transfer funds to your friends and family.

Loan Shark

Loan Shark is an App that lets you calculate and compare loans taken from different vendors. It can analyze any component of a loan to determine payments, interest rates, amortization tables etc. You can find out the effect of making higher or lower payments and can do basically everything to assure that you are going to make a good deal. It also helps you to find nearby bank.

Lower Your Tax Guide

This application helps you to understand IRS tax guide in simple English. It helps you to lower your taxes and cover popular tax breaks. It covers following topics:

?Tax basic

?Filling station

?Dependants

?Investing and taxes

?Popular tax breaks

You Need A Budget

If you believe in financial discipline and need extra motivation, this App will help you. It also helps iPhone users in:

oQuick enters financial transaction on go

oCheck your category balance before purchase

oView all historical transactions for every account

oSync with desktop

oStay aware of your spending

oNever worry to go over budget!

Business Browser

With this app you will have quick access of best and useful financial websites and financial resources. You can add/delete bookmark, bookmark can be read offline, memorization of last visited page, etc.

Stock and Share Calculator

It is difficult to figure right moment to purchase and sell the shares and stock. This app assists you to do that. It make easier to add number of shares, count purchase prices, compute commission fees, etc. with just a touch of button. App deliver essential figure to deal.

Four out of five people who make New Year’s resolutions eventually break them. Many people have a hard time getting to the end of January without slacking on the goals they’ve set for themselves.

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