The banking sector has to use latest technologies to remain relevant and continue with its growth. New technologies that affect banking sector keep coming up regularly. Failure to adopt these technologies can cost a lot. Banks and financial institutions already use different types of digital and online technologies. However, it is a fluid field where new technologies keep coming up. Bankers have to ensure they keep abreast with the latest technologies observed Bahaa Al Zubaidi.
Biometrics
Many banks already use this technology for access control and ID verifications. Some of them have embedded fingerprint sensor in their cash dispensing machines and at some other facilities. Credit card companies are toying with the idea of embedding the fingerprint sensor in their contactless cards. Some banks want to incorporate the voice and touch security features. One bank now even offers finger vein scanning. Some biometrics technologies are already in use while others are being planned for integration in the security and verification systems.
Facial Recognition
This identification technology no longer requires the presence of the user at the site. Facial recognition can be used for authentication even in the digital and virtual worlds. Banking industry can use this identification and authentication method at many places where customers interact with it. Some e-commerce operators now use facial recognition system to help their users pay for the products online. Banks may use this technology in the coming years.
Video Banking
While online banking has already eliminated the need for bank customers to visit their bank branch, now banks can take it a step further with video banking. Some banks are testing VR headsets where customers can enter and explode the bank virtually. The customers can use the banking services in this virtual world. VR is being considered the next transformative domain for all industries and the banking sector cannot be different.
The Importance of Performance Testing
This testing improves the efficiency and speed of a software application. It involves quantitative tests that check the response time, reflexes and functions of an application. It is capable of checking the software program’s speed, scalability, consistency and resilience factors.
Stress and load testing improves the application. The program can be made market-ready quickly after removing the risks. Performance testing is an important aspect of load testing. It helps assess an application’s production load capacity. The application owner can check the response time of the program when a transaction, business process or critical action takes place. These tests are used to identify, confirm and increase the capabilities of an application. It prevents downtimes and outage of the application.
Banks can conduct performance testing of their applications with the help of a software company that offers this service. Thank you for your interest in Bahaa Al Zubaidi blogs. For more information, please stay tuned to www.bahaaalzubaidi.com.