From Legacy to Digital: The Role of Software Testing in Revolutionizing Lending Operations

Industry: Finance
Location: USA

Introduction

In the landscape of consumer lending, a prominent player in the industry with over 70 years of legacy faced critical challenges in adapting to the digital era. The existing Loan Origination System (LOS) was burdened by lengthy processing times, complex integration with over 20 systems utilizing various technologies, and the need for seamless communication across platforms like Salesforce, Mulesoft, Kafka, GDS and MDM. Additionally, the system was faced with many input variables impacting its output.

The client's digital transformation initiative aimed at revolutionizing their lending operations. The company needed a suite to navigate complexities from integrating multiple technologies, ensuring a smooth transition to paperless loan processing and significantly reducing the application process from 2 days to 30 minutes. The objective was to achieve a rigorous QA-tested system, ensuring an error-free, efficient system.

Tntra devised a robust framework by leveraging its IP-led software product engineering and testing expertise. This framework facilitated estimation, planning, and execution, enabling the client to define their project plan, address concerns of rapid launch, and implement a seamless testing strategy. Through meticulous planning, automation frameworks, and a dedicated team, Tntra propelled the client with a well-tested digital solution.

Technologies Used

ACEELQ
Jmeter
Blazemeter
Chrome monitoring Tool
Salesforce lightning inspector
Jira
Zephyr scale

Service Provided

Test Strategy
Test Plan
Test Cases
Automated test scripts
Performance Test Analysis
Estimation Metrics

Test Process

Tntra proposes to leverage an end-to-end testing approach, which will ensure early QA involvement in the lifecycle and enable early identification of defects. We will leverage different testing methodologies like Risk based Testing, Exploratory testing etc. to ensure greater Testing coverage.

Business Problem

A high number of input variables impacted the system's output.

Integration with 20+ systems involving multiple technologies like Salesforce, Mulesoft, Kafka, MDM, etc., leading to high complexity and the need for a robust communication plan.

Reduce time to market for LOS by developing a regression suite to enable the client a rapid launch.

Evaluate and offer feedback or recommendations on user satisfaction with the product, focusing on factors like ease of use and intuitiveness. Additionally, assess and provide feedback or recommendations on the product's performance.

Project Goal

Building a regression suite of a new Loan Origination System built using multiple technologies, including MuleSoft and Salesforce.
Enable paperless loan processing and reduce the application process from 2 days to 30 minutes.
Plan and estimate for developing a regression suite for an application still under development.

Solution

Tntra built a framework that enabled the estimation and planning of the project based on a mix of estimation techniques and mathematical models for complexity assessment.
The QA experts at Tntra provided a test strategy and a 24/7 working model to resolve their speedy launch concerns.
Provided the SIT and UAT plan to meet the timeline.
Prepared the approach to test the application with real-time scenarios.
Prepared automation framework for each stage.

Business Impact

The new LOS helped the client increase their efficiency.
It helps speed up the pre-qualification process in just 5 minutes.
The new LOS system enhances loan processing. It processes loans from 2 days to 30 minutes.
It provides a more accurate and faster decision engine.
The new digital system helps increase the number of online applications.

Features

Accessibility
We service different loan types and multi-tier loans
Centralized data storage
Integrated credit assessment capabilities
Automation of routine processes
Decision Engine
Third-party integration
Security

Tntra’s Testing Methodologies

Our QA Engineers have delivered the service using the following methodologies.

E2E Testing

End-to-end (E2E) testing for a Loan Origination System (LOS) was crucial to ensure that the entire loan origination process, from application submission to loan approval, functions correctly and efficiently. With this method, the team was able to make sure that the entire loan origination process, from application submission to loan approval and disbursement, operated smoothly and met the business requirements.

IP Testing

IP Testing involves validating the functionality, security, and reliability of the interfaces used for communication between different system components. We used it to determine the points where Salesforce interacts with external systems, such as databases, APIs, ABS, Kafka, and other applications. This testing helped us ensure that connection points between Salesforce and external(third-party system) are working correctly.

Epic and User Story Testing

Testing Epic and User stories involves validating the functionality and business requirements encapsulated in the high-level user stories. This helped the team ensure that the developed software met the desired requirements and functions.

Automation Testing

Automation testing involves using the automation tool Accelq to validate various aspects of the system, such as functionality, end-to-end flow, and user experience. This testing helped us automate high-level requirements to save time and regression testing time.

Performance Testing

Performance testing ensures the system can handle expected loads efficiently and performs well under various conditions. Conditions like how long the system takes to complete one end-to-end flow with a single user and 100 concurrent users. This testing helped the client determine the timings for a single user and 100 concurrent users and identify which API was taking the maximum time to load and process.

Tntra Diamond

Tntra's Diamond is a comprehensive approach to helping enterprises manage the constant interplay between Business Process Reengineering and Digital Transformation. Tntra’s domain specific methodologies lead to software services for mature systems and software product engineering for new requirements, further transitioning to a managed service model to ensure stability and scale.

Tntra's Diamond enables the enterprise to stay ahead of the transformation curve, while at the same time ensuring optimal business processes to meet the needs of the new economy.

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