6 Things You Need To Know About Real-Time Payments, Simulation And Testing - P.4

by FIS (Open Test Solutions) | White Paper

The demand for fast has reached its cruising speed. Central banks, Automated Clearing Houses and payment schemes all have a big appetite.

The industry has been focusing on the business case, risk analysis, vendor selection, features set … – often overlooking the added value of the right testing strategy. Many companies underestimate the scale and complexity presented by the testing and onboarding challenges of an instant payment project.

In a series of six short papers, FIS uncovers some key phases in the testing journey to the destination of sustainable real-time payments:

1. Implementation and Format Testing
2. Functional Testing
3. Automated Regression Testing
4. Onboarding of Financial Institutions and Corporations
5. Deep Business Process Testing
6. Certification, Proprietary Interface and API Testing

Download the fourth issue “Innovation Through Business Process Testing” today.

About FIS (Open Test Solutions)

Banks and payment providers are under constant public scrutiny. Whether it’s about paying or getting paid, there’s no room for compromise: the risk of bad publicity, reputational damage, loss of market share, customer churn and other adverse effects affecting the top line is far too great. Moreover, there’s new market entrants, strict rulebooks, scheme updates and innovations to take into account.

This is where testing comes into play. Testing is key in helping companies confirm quality, ensuring that their payment solutions adhere to governing specifications and creating a solid brand image. Because the payments world has its own characteristics, strict requirements, regulatory mandates, fast technology evolution, far-stretched security rules, mandatory certifications, tight deadlines, … It needs specialized test software, simulator tools and services designed for the fintech world.

Open Test Solutions is an FIS business line with more than 25 years of global expertise in payments testing. We provide the solutions that help you save time, optimize your investments, avoid unnecessary costs and unexpected delays. We work closely with our customers worldwide to make sure we understand their challenges, we build engagement and generate insights so we can deliver the solution that fits their business perfectly.

FIS has +55,000 worldwide employees and serves more than 20,000 clients in over 130 countries.

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