Digital Transformation Services for Banking

Distributed Ledger, ISO 20022 Migration, and Integration Testing Services

Digital Transformation Challenges in the Banking Industry

Banks need a robust infrastructure, a well-defined digital quality assurance approach with an emphasis on end-to-end functionality, connectivity, and seamless integration into the backend systems to provide the best possible consumer experience. While delivering a positive client experience across all channels such as mobile, online, and cloud, banks must also ensure secure transactions and the protection of sensitive customer information across all touchpoints.

Web security is a prime concern that makes penetration testing thorough Code level reviews & compliance to industry security standards such as PCI DSS also critical.

How Cigniti Helps Banks in Their Digital Transformation Journey

Cigniti provides the best in the next generation of migration and assurance activities such as ISO 20022 along with Blockchain testing services for banking. Cigniti’s comprehensive Digital Transformation program for Banks assures a superior UX for its clients’ customers while optimizing the service delivery cost. It spans end-to-end functional validation, Mobile App validations, 3rd Party API integrations, Cyber Security Assurance, Biometric validations, and more.

Components of Cigniti’s IP, BlueSwan™, such as Incight and CESA, help in providing prescriptive insights into the clients’ digital offering. With its cutting-edge payments practice spread across payment processors, aggregators, and payment technology providers, Cigniti ensures an intuitive and user-friendly payment experience.

Our Clients Include Some of the Biggest Brands in the World

Utilize our Digital Assurance Services in the Banking Sector to Achieve

50% reduction in overall test execution effort

Reduced Web and Mobile Banking Application test life cycle by 25%

Cigniti’s Offerings for the Banking Sector

Banking Assurance and Automation

  • Testing of core banking systems
    (Temenos T24, Finacle, Flexcube, FIS)
  • Open Banking
  • No code, low code solution for BFSI

Digital Transformation Services

  • Digital Brokerage and
    Wealth Management Solution
  • Legacy Modernization
  • Omnichannel Banking
  • Blockchain Solution: Vendor finance on Hyperledger Fabric
  • Blockchain Solution: Trade Finance
  • Post-trade Settlement on R3Corda

Regulations and Compliance Services

  • ISO 20022 Migration Services
  • Enterprise Financial Crimes Management
  • Banking Risk Compliance

The Next-generation of Payments: ISO 20022 and Blockchain Testing Services for Banking

Our Messaging Standards Expertise comprises the ISO 20022 format – message components and syntax, and the return handling process – Recall and Revoke, providing benefits of ISO 20022 Migration such as fraud prevention and an improved audit trail, faster integration, improved analytics, and more.

Our Blockchain testing domain specialists help address the bottlenecks of Vendor Financing with Blockchain powered by Hyperledger Fabric and Smart Contracts to create a versatile decentralized finance (DeFi) infrastructure. This brings benefits such as greater transparency, enhanced security & privacy, reduced cost, and more.

Test Accelerators For Banking Sub-domains

Our Test Accelerators cutting across all the critical business flows and banking sub-domains.

Corporate Banking

Corporate Banking

  • Trade Finance
  • Corporate Lending
  • Commercial Lending
  • Securitization
  • Forex
  • Liquidity Management

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Open Banking

  • Customer Account Information
  • Product Information
  • Third Party Payments
  • Account Servicing & Payment Initiation

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Retail Lending

  • Loan Origination
  • Decisioning
  • Servicing
  • Delinquency Management
  • Reporting & Analysis

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Compliance & Regulations

  • BASEL III
  • DoDD Frank Act
  • FATCA
  • MiFID II
  • PSD2
  • Regulation CC
  • SOX Act
  • US Patriot

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Payments

  • Retail Banking Payments
  • POS
  • Merchant Payments
  • Bill Payments

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Investment Banking

  • Wealth Management
  • Private Equity
  • Broker Dealers

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Retail Banking

  • Customer On boarding
  • Checking/Savings Account
  • Payments & Transfers

  • Account Statements and Reports
  • Debit and Credit cards
  • COB reports
  • Deposits

Test Accelerators for Products

Our pre-built test cases across all leading banking and core banking products accelerate the overall test design cycle by 60%.

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Cards and Payment Testing Expertise

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Digital Payments

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  • Contactless Payments
  • P2P transfers
  • Tokenisation
  • POS Terminals
  • Remittance Services

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Cards

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  • Authorizations
  • Merchant Mgmt.
  • Messaging Systems
  • Collections
  • Disputes and Chargebacks
  • Delinquency

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API-based Payments

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  • Realtime Payments
  • Third Party Payments
  • Payment Gateways
  • Identity based payments

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E-commerce

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  • MPoS
  • Card Payments
  • Payment Process
  • Payment Aggregators

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Business Areas

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  • Digital Banking
  • Issuance
  • Mobile Payments
  • Acquiring and Processing
  • Value Added Services
  • POS Terminals

The Impact of Cloud Migration Assurance on Legacy Banking Applications

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The Importance of API Testing in Open Banking

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Web and Mobile Banking Application Testing for Leading Canadian Bank

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For More Thought Leadership Blogs

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NextGen Technologies That are Aiding Quality@Speed in Banking & Financial Services

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Go Mobile-only With our Next-gen Offerings

ISO20022 Migration for Banking

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Blockchain Testing Services for Banking

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Solutions and Reusable Testing Artifacts for Banking

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Leverage Cigniti’s Digital Assurance capabilities for Banking and achieve high levels of customer satisfaction and retention.