How is the Impact of Digital Assurance a measure of success for Banks? - PowerPoint PPT Presentation

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How is the Impact of Digital Assurance a measure of success for Banks?

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This PPT explains how the impact of Digital Assurance acts as a measure of success for CIOs of Banks and financial institutions, thereby establishing its importance. – PowerPoint PPT presentation

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Title: How is the Impact of Digital Assurance a measure of success for Banks?


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How is the Impact of Digital Assurance a measure
of success for Banks?
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How is the Impact of Digital Assurance a measure
of success for Banks?
Digitalization has moved from becoming a trend to
becoming a basic necessity for organizations such
as banks that need to deliver value at various
levels within the information technology and
digital eco-system. In such a scenario, the
C-suite of banking sector needs to stay abreast
of the trends and demands of digital consumers
and equip themselves adequately to continue to
remain relevant in this rapidly evolving market.
They need to get equipped with innovative,
robust, secure, flexible and optimized solutions,
ready to meet the expectations of empowered and
tech-savvy customers. That said, Gartner
suggests that Bank CIOs must evaluate their
organizations digital priorities and
transformation readiness before embarking on a
digital banking initiative. An all-inclusive
digital assurance framework that addresses all
the challenges in an end-to-end digitization
initiative is critical to the success of the
digitization program. The framework needs to be
continually aligned with the efficiency
improvement and user experience improvement goals
of the digitization program. The assurance
framework should also be extremely agile to cater
to shorter development cycles and the need to
provide new features, faster. Digital evolution
has also brought user experience at the center of
organizations design strategy. Quality Assurance
(QA) plays an equally important role in
engineering consumer experience by testing for
usability and accessibility. Ideal Digital
Assurance Framework Stessa Cohen, research
director at Gartner, says CIOs must realize that
choosing a digital banking approach is not solely
a technology decision. They cant rely on
traditional parameters like asset size or number
of customers. Instead, CIOs must work
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How is the Impact of Digital Assurance a measure
of success for Banks?
  • with business leaders to identify the banks most
    critical requirements for digital banking.
  • What this means is that just using the best
    technology is not enough. What CIOs need to
    explore and implement is a framework that
    provides digital assurance, and covers multiple
    facets of running an organization, such as the
    following
  • Baseline objectives customer experience/satisfact
    ion, efficiency, globalization, standardization
    and business growth.
  • Business process optimization analysis and
    mapping multi-user/system touchpoints, non-value
    adding/redundant processes, shared
    service/globalization opportunities.
  • Derive reusable test repositories from the
    business process maps.
  • Automate tests continuously on a robust, easily
    maintainable and scalable framework to enable
    testing across channels, browsers, devices, and
    geographies for the entire testing lifecycle.
  • Build advanced data generation and management
    frameworks that help simulate all possible
    business cases.
  • Extend automation and data framework to assess
    the achievement of performance needs.
  • Security testing based on existing database of
    system vulnerabilities and potential threats.

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How is the Impact of Digital Assurance a measure
of success for Banks?
  • Implement a standardized usability framework
    deploying state-of-the art user experience
    testing tools and methodologies.
  • Adopt Agile methodologies with focus on
    continuous delivery, progressive functional test
    automation (BDD/ATDD), shorter release cycles,
    appetite for open source (Cucumber, Ruby,
    JBehave, Selenium), crowd platforms for
    collaboration (Wiki) and DevOps. As opposed to
    the enterprise side of organizations (package
    applications, legacy platforms or custom
    implementations) where consolidated testing,
    establishing tool framework and ALM platforms,
    focus on productivity improvement, regression
    automation and cost of quality reduction are the
    initiatives at the forefront.
  • Read Full Blog at
  • https//www.cigniti.com/blog/digital-assurance-mea
    sure-of-success-for-banks/

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