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Reimagining the BFSI Test Function with a Machine First Approach

 

Lalatendu Sahoo

Senior Advisor and Architect, Technology and Transformation Advisory, BFSI, TCS

Catering to market trends by embracing the machine-first approach to testing

Launching innovative digital products and services and upgrading existing offerings is key to retaining an edge in the banking, financial services, and insurance (BFSI) industry. However, testing new offerings and upgrades to ensure high performance and superior experience can be a challenge given the need to deliver quickly. As a result, automation in testing has been on the rise across the BFSI test function. Going forward, embracing a machine-first approach in the BFSI test function will help further improve test efficacy through real-time and real-life testing.

Moving to a machine-first approach in the BFSI test function will entail adopting the machine-first assurance model (MFAM) built using artificial intelligence and machine learning. To successfully implement the MFAM model, BFSI firms must:

  • Gain an understanding of their test function and landscape

  • Rethink the baseline and benchmarks for a machine-first world

  • Identify focus areas and initiatives to move further on MFAM