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"I would just like to add that we (Banking systems team and the business users) are extremely impressed with your guys - the work they are producing is extremely professional and thorough.

We remain extremely impressed by the work of Thinksoft team!"

- Head, Banking Systems Team

"It really was a pleasure working with such a professional team, please pass that on to the team members, and I look forward to having you back to assist in the new branch integration soon."

- Manager, Banking Systems Team

Core Banking

Temenos T24 Testing Services

Temenos T24 Overview:

TEMENOS T24 is advanced model bank software, with its scalable architecture. It permits the use of local programming to further extend the functionality and flexibility of the system. T24 supports various business areas with its features of Supporting Microsoft technology, Native Web Services support and other message formats.

Source: www.temenos.com

Testing Challenges:

Following are the several challenges faced while implementing/ enhancing the T24 application:

  • Need for a business requirements document comprising of user workflows
  • Need to cover client specific end-to-end business scenarios
  • Test plans should be traceable to business requirements at function level
  • Test coverage to include all the interfaces involved in the business process
  • The local programming ability available in Temenos brings with it the risk of regression test coverage

Thinksoft Competency in testing Temenos T24
The core business functions and critical testing areas of a typical T24 implementation and its ancillary functions are as under:

  • Core Functions: Accounting & General Ledger, Multi-company, Multi-currency and Multi-language, Management Information and Profitability, Document and image management
  • Retail Banking: Equities and Bonds, Cash Deposits and Accounts, Asset Management - Discretionary and Advisory, Performance Reporting, Execution only transaction, Alternative Instruments, Structured Products
  • Private Banking: Securities, Portfolio Management, Portfolio Modeling and Rebalancing, Portfolio reporting including performance, Fiduciaries, Intermediary (agent) compensation and commissions
  • Treasury: Money Market, Foreign Exchange, Derivatives, Securities, Repos, Futures & Options
  • Corporate/ Wholesale: Commercial Lending, Syndicated Lending, Letters of Credit, Documentary collections, Bills, Guarantees & Standbys, Leasing, Cash Management
  • Multi-Channel: Internet, Call centre and other electronic channels

Thinksoft's Solution
Approach to Release testing

Release testing has greater emphasis towards ensuring that there is no regression effect due to the enhancements made to the software. Hence, it requires an end-to-end test of the application whether or not the changes are effected to modules that are interdependent. Now the challenge is to reduce the time taken for release testing, by way of a smart approach to regression testing.

Thinksoft Global Services (TGS), practices the approach of creating a core repository of testware that can be used and re-used for T24 regression testing during each release. Temenos releases newer versions of T24 to address the growing business needs and technical advancements. This results in the upgraded functionality and improved flexibility in using the T24 application. With a core repository of testware in place, the additional effort required during every release is limited to the enhancements only and not the core functions. Therefore, a core repository can help in building a regression test pack that will reduce the time and effort involved in testing the application during each release. Thereby Thinksoft helps its clients to achieve the time to market benefit for each new feature introduced in Temenos T24, in spite of the number of versions being released or changes being introduced due to local programming.

European Bank implemented Temenos T24 by engaging a financial domain focused testing specialist-Thinksoft.

One of the leading financial institutions in the Europe with focused business interests in private banking has implemented Temenos T24 to handle their day to day operations of its outfits in two key locations. The institution was scouting for an independent testing vendor to carry out User Acceptance Testing (UAT) for the new releases scheduled by Temenos T24.

The institution identified Thinksoft, the domain focused independent financial software testing specialist to carry out the testing for their Temenos T24 releases. Thinksoft proposed a modular approach towards testing the Temenos T24 releases for the client that included the following activities:

  • Business Requirements gathering
  • Functional coverage matrix preparation
  • Strategy preparation
  • Planning and execution of User Acceptance Testing

Modules and Functionalities Tested:

The private banking business of the client encompassed a systematic flow of transactions from an originating unit to a processing unit to a settling unit. The transactions had to pass through a string of validations with necessary overrides in case of exceptions. The functional modules tested for the client are given below with an indicative list of associated functions of each module:

  • Client Liaison Office - Transaction origination for regular customers, Customer interaction, Enquiries, statement of accounts etc.
  • Asset Management Desk - Transaction origination for portfolio customers, customer interaction, Enquiries, Investment performance statements, Portfolio modeling and rebalancing
  • Credit Dept - Valuation of pledged securities, sanctioning limits, overdrafts and loans, tab on exposures etc.
  • Compliance Dept - Monitoring the customer accounts for suspicious activities, enforcing anti money laundering laws into effect, authority to freeze/ defreeze accounts as may be required to ensure compliance
  • Dealing desk - Execution of orders originated by CLO and AM desk in the Forex, Securities, money markets and mutual funds
  • Treasury Control Dept. monitors Capital Issuance and Securitisation, Capital Management and Governance, Management of the relationship with Central Banks and Regulators, Transaction Management (Interest rate hedging and cash-flow management), Liquidity and Collateral Management, including Contingency Planning
  • Payment Services operates a worldwide financial messaging network using SWIFT messages for incoming and outgoing funds to meet the payment obligations arising out of customer instructions, forex trading, securities transactions, customer bill pay instructions etc.
  • Global Custody tracks the security trades from the back office for Settlement, Transfer and Corporate Actions

Testing Challenges:
  • The business workflow for the two locations were different
  • Temenos T24 had unique on screen navigational methods
  • Counterparty systems were not integrated

Thinksoft value additions:
  • Business Requirements document comprising of the workflow of each department was created separately for users in both the locations.
  • Test plans were modular in nature that rendered the flexibility to changes in future and also offered traceability in terms of functional coverage.

Thinksoft team prepared a business process map for the Portfolio rebalancing function which still serves as a reference document for the client personnel.

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