Automated Testing of a Loan Management System to Reduce Turnaround Time by 70%

Synopsis

A leading consumer credit & financial services company based in the UK utilized TestingWhiz to automate testing of its loan management system – from application to review and final disbursement in order to reduce the turnaround time and enhance operational efficiency.

About the Client

Licensed by Web Loans Limited, the client company is an authorized financial service and consumer credit company in the UK that has deep expertise in FinTech (Financial Technology) to improve the financial health of working people. It offers a suite of financial tools to local and international companies that allows them to provide financial aid to their employees in terms of personal loans. Named as one of the UK’s leading socially responsible start-ups, the company aims to help employees pay off their debts faster and save towards their financial goals.

About Client’s Loan Management System

A comprehensive system that helps in paperless processing of loans- right from application, review, approval/rejection to its final disbursement based on certain pre-defined criteria. It enables companies to automate the end-to-end lending process by integrating tightly with banks and financial institutions. The system works as a white labelling service with modules such as - 1.) Application Module from where an employee can initiate the loan application process, 2.) Bank Module to fill up bank details, interest calculations, payment period & charges accrual and 3.) Review module from which HR of the respective company can review, reject or approve the loan based on the employee eligibility.

Challenge/Background

With increasing number of employer companies availing the loan management system, the client company was looking to improve the stability and operational efficiency of the system. However, to accommodate different types of scenarios of different companies, bank criteria, employee income parameters, it was getting difficult to test the system manually.

Some common manual testing challenges included the following:

  • Difficulty testing the system mechanism as per different lending criteria of different companies.
  • Problems in verifying bank APIS for different accounting parameters, interest charges, and accruals.
  • Difficulty performing regression testing of all modules in short time.
  • Difficulty performing data-driven testing as per different data structure and tables.
  • Problems in ensuring responsive view across different devices and browsers.
  • Trouble in testing lengthy forms and UI structure.

Requirements

The client company was looking for a robust test automation solution in order to resolve their manual testing challenges while improving the operational efficiency of the system and accelerating the regression cycles. For automating testing of loan management system, the client’s requirements broadly comprised of the following things:

  • Testing front-end of all the loan management modules and their components such as forms, navigation, etc.
  • Verifying bank API connection for processing loan application amount and calculations against different parameters.
  • Automating continuous regression tests as per different lending norms and criteria of companies.
  • Performing data structure validation of different data tables and types.
  • Testing integrated functionalities and back-end processes of the loan management system.
  • Conducting mobile testing to ensure effective UI across different devices.

Solution

The client company identified TestingWhiz as an ideal fit for testing end-to-end loan management system due to its capability of addressing UI, Back-end, Integration layer testing. Moreover, the client company was impressed by its ready-made keyword-driven commands as well as record/playback feature, which promised to reduce the turnaround time from a few days to hours and minutes.

Below listed are the details of solutions provided to the client via TestingWhiz to enhance the operational efficiency and accelerate the testing cycles:

  • Automated end-to-end regression testing of the system – UI, functional, database and integration layers.
  • Recorded and automated multiple transactions as test scenarios:
  • Happy Scenario – Loan Application > Verification Against Approved Pre-Defined Parameters > Calculation of Interest & Liability > Approval > Disbursement
  • Negative Scenario – Loan Application > Verification Against Rejected Pre-Defined Parameters > Rejection
  • Tested inherent calculations, allocation algorithms for processing the lending of loans.
  • Built and automated more than 4000 lines of scripts accommodating different test scenarios.
  • Conducted mobile testing to ensure UI responsiveness across different devices and simulators.
  • Performed data-driven and keyword-driven testing against hundreds and thousands of data values.
  • Validated data structure as per lending criteria and employee information of different companies.

Results

Within the span of 2 months, TestingWhiz automated the end-to-end testing of the loan application management system across different modules and levels. Test automation with TestingWhiz helped the client in following ways:

  • 70% reduction in testing turnaround time in comparison to manual testing.
  • 27% reduction in costs due to automation and scheduled execution of test cases during non-working days.
  • Secure, consolidated and compliance-driven loan transactions with better traceability of failures and defects.
  • 46% increase in operational effectiveness and performance of the system.
  • Less complicated and smoother transaction due to more stable and optimized system performance.
  • 30% increase in test coverage via accurate test case formulation.
  • Faster and continuous feedback as per changing organizational lending, eligibility and interest policies.
  • Enhanced usability, consistency, and interface across devices.

Questions? Email us at info@testing-whiz.com or call us +1-855-699-6600

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