Question & Answer
Question: How much can we rely on another bank's testing if we are using the same equipment or the same software?
Answer: The answer is: don't rely on another bank's work. If they missed something, so did you and you didn't even try.
There are several steps you can take to make your testing as efficient as possible. First, if another bank is ahead of you in their testing and found a problem, you know exactly what to look for. Sharing problem findings can be a valuable time-saver for banks using the same products.
Second, it may be useful to compare how you are using the same product. For example, you may be running the same software on different hardware. Knowing that may also help to focus your tests.
This is a non-competitive issue. It is also a survival issue with no possibility of cutting slack on the schedule. Any way that you can save time and increase efficiency is good. But shortcuts by borrowing someone else's work are too dangerous to try.
Copyright © 1998 Compliance Action. Originally appeared in Compliance Action, Vol. 3, No. 13 & 14, 10/98
First published on 10/01/1998