This month’s author: Laura Philbin, Head of Operations at Assured Thought
In this month's blog, Assured Thought’s head of operations and resident foodie, Laura Philbin, has some tasty advice for wealth management CTOs and COOs. It’s time to spill the beans about elevating digital strategies by integrating software testing and QA.
Wealth management is often a high-stakes industry, with significant assets on the line. As a CTO or COO in the wealth management sector, you’ll understand technology’s vital role in driving success for your high-net-worth clients. But you may not fully appreciate that software testing and quality assurance (QA) are actually fundamental ingredients of digital success. So let’s explore the importance of integrated software testing and QA – an essential topic for wealth management companies wanting to elevate their digital strategies to stay ahead of the competition.
The ingredients of success: why integrating software testing and QA matters
For a moment, let’s consider the role of the head chef of a top fine dining restaurant.
To create culinary masterpieces that will delight customers and retain Michelin Stars, they must seek exacting quality at every step of each culinary process. It’s only by integrating testing – and tasting – at each stage that the chef de cuisine can have certainty about the quality of a dish before it reaches the point of service. Their meticulous attention to detail in the sourcing, curating, measuring, preparation, seasoning and application of each ingredient is informed by integrating testing into processes. After all, it’s common sense to taste an ingredient before it’s stirred in rather than afterwards.
Now, integrated testing and QA doesn’t only enable the consistent presentation of culinary masterpieces, of course. It also enables wealth management companies to develop winning digital strategies.
To create a digital masterpiece that consistently exceeds client expectations, you’d do well to seek exacting quality at every step of your company’s digital process. Without thorough testing and quality assurance, even the most innovative and advanced software applications can suffer from bugs and security vulnerabilities – or create subpar user experiences that can damage reputations and hinder growth. But by integrating wealth management software testing and QA – perhaps by partnering with a company specialising in your field – your software and processes can be properly examined before being ‘stirred in’. Applications can be refined and perfected, potential risks and weaknesses identified and mitigated, and issues detected and addressed before they impact client experiences, giving you certainty that your company’s digital strategies are robust and secure.
Best practices for elevating your company’s software testing and QA game
Incorporating software testing and QA into your company’s project planning from the outset will enable your team to identify potential issues early in the development process, leading to more efficient and cost-effective problem resolution.
Given the sensitive nature of financial data and the strict regulatory environment in wealth management, it's critical to prioritise security testing and compliance checks. Regularly conducting vulnerability scans, penetration tests and data encryption audits will ensure your company’s software remains secure and compliant with industry standards.
As your company’s software evolves, so too should its software testing and QA processes. Continuous testing and monitoring will help you quickly identify and address any new issues or vulnerabilities that arise as software is updated and enhanced.
Encourage a culture of quality within your organisation by emphasising the importance of software testing and QA at all levels. Provide ongoing training, resources and support for your team, as well as celebrating successes and learning from setbacks.
For more expert advice from Assured Thought, the QA and testing provider of the financial services industry, click here: https://assuredthought.com/contact-us/