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Importance of Quality Assurance in Financial Data Testing

Author(s) Santosh Kumar Vududala
Country United States
Abstract In financial data testing, quality assurance (QA) is essential to guaranteeing the security, correctness, and integrity of financial systems. Errors in data processing can result in significant financial losses, regulatory penalties, and brand harm since financial institutions handle enormous volumes of sensitive data. This study examines the value of quality assurance (QA) in financial data testing, emphasizing how it affects operational effectiveness, fraud prevention, regulatory compliance, and risk management. It covers important QA techniques that support financial firms in preserving the security and quality of their data, such as automated validation, data reconciliation, performance testing, and cybersecurity measures. The article also discusses frequent issues such cybersecurity threats, data complexity, and regulatory changes and suggests best practices to improve the trustworthiness of financial data. The results highlight the importance of strong QA frameworks in fostering stakeholder trust, guaranteeing adherence to financial legislation, and preserving financial institutions' general stability.
Keywords Quality Assurance (QA), Cyber Security, Stakeholder, Digital Economy, Financial Data Testing, Cloud Computing
Field Engineering
Published In Volume 2, Issue 9, September 2021
Published On 2021-09-03
Cite This Importance of Quality Assurance in Financial Data Testing - Santosh Kumar Vududala - IJLRP Volume 2, Issue 9, September 2021. DOI 10.5281/zenodo.14960377
DOI https://doi.org/10.5281/zenodo.14960377
Short DOI https://doi.org/g86v5k

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