While the macro aspects of the banking are being taken care, by the experts in the banking industry: at the Service delivery front-end there are many advancements occurring, driven by customer experience and expectations. One among them is Banking for the Digital era – Moving reluctantly from Branch banking to Internet banking and now making speedy sprints through Mobile banking, Social banking, Watch banking to Wallet Banking, customer convenience all the way.

How these Implications reflect on banks?

Customer base increases through networking, social media, reward points and loyalty.
Banks providing the best and early solutions could attract more customers.
Branch banking and Core systems, will be released from some amount of load on concurrent users and multiple transactions.
Banking on the move and 24/ 7 availability of banking services for its customers.
Stiff competition from the new entities like Payment gateways and Payment Banks.
Need for strong Fraud analytics systems and processes to prevent frauds.
Financial inclusion of remote areas, especially in developing countries.
Voluminous and small value transactions moved to a separate service fulfillment segment.
Pressure on the high-cost ATM’s and infrastructure will reduce.
New avenues for increasing income generation at a later point in time.
Response required from testing service providers working in banking domain

Quick adaptation to the digital changes with accuracy.
Intensive security testing.
Find new ways to focus on Integration tests to ensure seamless connectivity from delivery channels to Core Banking solution.
System availability testing through Monitoring services to ensure customer satisfaction.
Extensive testing for fraud analytics.