payments testing @ thinksoft
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T r u s t t h e E x p e r t s
Payments Testing @ Thinksoft
The payments industry:The payments industry is going through a phase of transformation. Rapid changes are being introduced by every country in the regulatory framework to ensure both financial and non-banking institutions entering the payment processing business are secure, controlled and customer centric. Significant investments are being made towards the convergence of retail and wholesale payments, increased security and regulatory compliance. With our extensive domain knowledge on payments combined with our time tested proven methodologies Thinksoft is uniquely positioned to help you leverage the current opportunities.
Thinksoft Global Services Ltd (TGSL)
Organizational Strengths:
Benefits:
• 25% of the employees are from payments industry with sound domain knowledge
• TGSL is exclusively focussed on the BFSI sector; business-assurance and testing
• 11000 test cases from the Cards & Payments business
• 100% requirements test coverage
• Thorough Traceability verification leading to early identification of gaps (25% + cost savings) and reduced defect fixing cost
• 30% of test planning time saved due to re-use of test artefacts from repository.
Track Record:
• Over 6 million hours of testing payments applications
• 300 plus payments projects
• 38 roll-outs, 34 platform migrations, 30 plus certifications & 50 compliance projects
• Faster ‘time to market’ by leveraging the ready to use test ware repositories covering inward & outward payments clearing via settlement mechanisms such as CHIPS, CHAPS, SEPA, FEDWIRE, TARGET, EBA, FPS. Swift Payments, Book Payments covering Vostro & Nostro accounts, Direct Credits, Direct Debits, Cards Payments and Regulatory Reports.
• Exposure to GPP: Global Payplus
Thinksoft Core Payment Processing Testing Experience
Key parameters of domain knowledge:
• Transaction based test data management
• Simulators for payment message injectors
• Stubs for response from interface applications
• Risk based testing using Risk Prioritization Matrix (RPM)
• Domain oriented test automation using Thinksoft’s framework ARTEMIS that compresses test cycles
• Requirements-assurance for ISO 20022
Payments Repository Metrics:
• Compliance with standards set by the Payments Services Directive (PSD), the Financial Action Task Force (FATF), European Payment Council (EPC) contracts, Office of Foreign Asset Control (OFAC), Foreign Account Tax Compliance Act (FATCA) and UK’s Financial Service Authority (FSA)
Offering across the Application Life Cycle
Clean RequirementsInto Development
Business Process MappingRequirements Documentation
REP PreparationParticipate in Vendor Selection
Seamless Translation of BR into FS
Review FS-Gap AnalysisFit for Purpose Testing
Bridge Domain GapReview Unit Test Plans
Test Strategy PreparationTest Plans
Testing Rigor & VigorSystem / Integration Testing
Data Migration TestingTesting of Satelite Systems
Clean SoftwareInto Production
User Acceptance TestingPerformance Testing
Quick Transition toProductive Use
User Training / User ManualRollout Support
Functional Help Desk
Optimize Maintenance Costs
Automated Regression Test PacksBAU Testing
Release / Project Testing
Envision
Retire
Maintain
Accept Deploy
Develop
Design
Service Offerings:
Disclaimer: All the documentation and other material contained herein is the property of Thinksoft Global Services and all intellectual property rights in and to the same are owned by Thinksoft Global Services. You shall not, unless previously authorized by Thinksoft Global Services in writing, copy, reproduce, market, license, lease or in any other way, dispose of, or utilize for profit, or exercise any ownership rights over the same. In no event, unless required by applicable law or agreed to in writing, shall Thinksoft Global Services, or any person be liable for any loss, expense or damage, of any type or nature arising out of the use of, or inability to use any material contained herein. Any such material is provided “as is”, without warranty of any type or nature, either express or implied. All names, logos are used for identification purposes only and are trademarks or registered trademarks of their respective companies
For more details, visit www. thinksoftglobal.com
T r u s t t h e E x p e r t s
SWIFT Messages
CHIPS Messages
FEDWIREMessages
Sanctions & Compliance
Check
FundsCheck
Currency Conversion
Querying System
Accounting System
R O U T E R
CORE PAYMENT SYSTEM
Customer Database
Monitoring System
Advices
Statements
FED OUT
SWIFT OUT
CHIPS OUT
Billing
Warehouse
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Value Proposition:
BusinessUser
Satisfaction
● 100% Functional Coverage, Heavy Lifting
● Higher Productivity Reusability
● Proactive Risk Mitigation● Dashboards
● >90% Offshoring, Best Practices
Faster Smarter
Risk Control&
Predictability
Legend: CHIPS: Clearing House Interbank Payment System CHAPS: Clearing House Automated Payment System, SEPA: Single Euro Payment Area, FEDWIRE: Formerly Federal Reserve Wire Network, TARGET: Trans-European Automated Real-time Gross settlement Express Transfer system, EBA: European Banking Association, FPS: Flexible Payment Service
• Functional artifacts : 22 Functions, 120 Sub functions and 65 end 2 end scenarios
• Testing artifacts: 950+ test conditions along with 5700+ test cases
TGSL’s domain focused approach and philosophy enables it to be completely product/vendor agnostic. This independent & meticulous approach helps customers in taking critical decisions.