Validata Blog: Talk AI-powered Testing

2023's Top Banking Software Glitches Exposed

2023's Top Banking Software Glitches Exposed

Glitches in a bank's software system can pose significant challenges, disrupting the daily lives of customers. In the banking sector, the real-time testing of complex software is crucial but challenging, given the rapidly changing requirements that must align with customer expectations. Despite allocating substantial resources to enhance security against external threats, there is often an underestimation of the importance of thoroughly assessing the quality of the code itself. In 2023, software malfunctions garnered considerable attention, repeatedly putting banks in the headlines. Below are some notable software failures from the year:
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Breaking Free: Why It's Time to Ditch Manual Spreadsheets for Reconciliation

Breaking Free: Why It's Time to Ditch Manual Spreadsheets for Reconciliation

Relying on manual spreadsheets for reconciliation, despite the prevalence of automated tools in the industry, seems to be an unconventional decision. This choice may be attributed to factors such as not having taken the time to transition to a reconciliation platform, a belief that the current system is functional, a preference for the familiar spreadsheet interface, or simply adhering to established practices where reconciliation is not considered a top priority.
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Leveraging  Synthetic Test Data for Software Testing

Leveraging Synthetic Test Data for Software Testing

As financial institutions navigate the complexities of data privacy, stringent regulatory compliance, and the constant demand for high-quality data for testing and development, the emergence of synthetic data has proven to be a game-changer. Synthetic data’s innovative approach not only streamlines testing processes but also serves as a robust safeguard for sensitive information. For banks and financial organizations, the utilization of synthetic data represents an opportunity, providing efficient, compliant, and top-tier data solutions.
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