Yesterday Capgemini, Sogeti and HP launched the second annual Financial Services World Quality Report (FSWQR), delivering a unique snapshot of the maturity levels of testing organisations within financial services (FS) institutions across the globe.

This latest report demonstrates that Quality Assurance (QA) at financial services (FS) firms is a high priority during tough operating conditions, translating into an IT focus on compliance, business growth and cost optimisation. It reveals that the cloud and outsourcing are now key considerations for testing organisations looking to deliver the greatest possible business value.

The findings were largely drawn from deeper analysis of data gathered for the World Quality Report 2011/12 which included responses from 175 banks, insurance companies and capital market firms. But additional research was also conducted on issues specific to the FS sector through a further survey garnering 268 respondents.

These fresh insights arrive at a crucial time for the FS sector. With the initial impact of the global financial and economic crisis abating, FS firms are facing a ‘new normal’, – one in which margins are squeezed, revenues are declining or growing more slowly, the future of certain revenue streams is unclear, and risk management and regulatory demands are more rigorous than ever. While the business imperatives are many and urgent, the testing-specific challenges for QA are also mounting. Customers and other third-parties are more demanding, and technology innovations mean FS firms are finding new ways every day to facilitate communications, interactions, and transactions with and among their retail customers, corporate clients, and other counterparties.

This report was made possible by Capgemini’s Financial Services Global Business Unit (FSGBU) Testing Centre of Excellence teams, which seek to provide sector insights, capture industry best practices, and provide strategies for continuous improvement to our clients. Download your copy of the Financial Services World Quality Report today. We hope you find the report valuable and helpful when defining the direction of your own quality improvement initiatives.

Barbara Ozimic AUTHOR:
Barbara is the marketing and alliance manager at Sogeti UK.

Posted in: Capgemini Group, World Quality Report      
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