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Financial Applications Attain Nearly 100% System Availability With Service Virtualization

05.10.2023

Financial Firms Meet Quality Goals and Deliver High-Quality Applications on Time

News Highlights

  • Financial institutions decreased execution time in the CI/CD pipeline by 40% and critical defects by 74% with simulated services and synthetic test data.
  • DevOps teams achieve a 99.97% level of system availability using service virtualization.
  • Attend the panel session, “How to Deliver Software On Time & Under Budget With Service Virtualization,” at QA Financial New York on May 24, 2023.

Monrovia, CA – May 10, 2023 – Parasoft, a global leader in automated software testing solutions, is expanding its presence in the financial software testing space with its service virtualization solution, which delivers significant risk and cost reduction to financial services organizations by optimizing application testing. This is crucial for businesses such as insurance companies and credit unions that want to deliver high-quality applications to their users and achieve business goals.

To showcase the benefits of service virtualization, Parasoft is sponsoring the QA Financial event in New York on May 24, 2023. The event will feature a panel session, “How to Deliver Software On Time & Under Budget With Service Virtualization,” with the following experts who will share software testing strategies to achieve testing and delivery goals using service virtualization.

  • Roya Montazeri, Senior Director of Quality at Cox Automotive
  • Rolando Martinez, Software Engineer at FIS
  • Matthew Crabbe, CEO at QA Media
  • Kenny Austin, Chief Customer Officer at Parasoft

Implementing service virtualization for financial software testing is especially important in today’s competitive landscape where failing to deliver high-quality applications can result in lost business.

Cox Automotive offers a variety of financial services for the automotive industry, including Dealertrack, which handles retail transactions for vehicle financing and contracting.

“Virtualization was the best thing that could happen to us in the way that it enables us to test the right thing at the right time. We already had many automation tools and could have some ability to mimic component behavior, but it wasn’t what we needed. We needed our virtualization services fast, because our problem was here and now, right in our lap,” said Roya Montazeri.

Download the Cox Automotive case study to learn more about how service virtualization helps drive down defects with end-to-end testing.

Image showing key findings for Cox Automotive using Parasoft Virtualize: less than 5% escaped defects, less than 7 days of urgent defects aging, 99.97% system availability, and reduced downtime more than 50%.

The Parasoft Continuous Quality Testing Platform supports the end-to-end testing needs of many industries, including financial services, and provides superior mocking of APIs and virtualizing of a broad range of message behaviors. In The Forrester Wave™: Continuous Automation Testing Platforms, Q4 2022 report, Parasoft was named a leader for the creation and execution of API tests integrated with service virtualization.

Forrester Vice President and Principal Analyst Diego Lo Giudice wrote, “Organizations from any market can partner with Parasoft, but technical scientific and high-compliance markets will find the ideal platform for their use cases. Parasoft is already present in these markets and in the large-logo financial technology market.”

About Parasoft

Parasoft helps organizations continuously deliver quality software with its market-proven, integrated suite of automated software testing tools. Supporting the embedded, enterprise, and IoT markets, Parasoft’s technologies reduce the time, effort, and cost of delivering secure, reliable, and compliant software by integrating everything from deep code analysis and unit testing to web UI and API testing, plus service virtualization and complete code coverage, into the delivery pipeline. Bringing all this together, Parasoft’s award winning reporting and analytics dashboard delivers a centralized view of quality enabling organizations to deliver with confidence and succeed in today’s most strategic ecosystems and development initiatives — security, safety-critical, Agile, DevOps, and continuous testing.

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Press Contacts

For US inquiries:

Aina-Jade Inguito

aina.inguito@parasoft.com

+1 626 383 9738

For EMEA inquiries:

Beate Lorenzoni

beate@lorenzoni.de

+49 8122 559170