User Acceptance Testing (UAT) is one of the most critical phases in any compliance technology project. It is designed and conducted to find out whether a software system or solution meets the regulator’s acceptance criteria and determines the readiness of the system for use.
A well executed User Acceptance Test phase helps the Compliance/ Risk function to ensure that the technology solution actually implements the intended regulatory business rules and processes, and meets the requirements of the regulators in various environments. It validates that the system built works correctly while helping business users identify that the system delivered to them meets all the necessary regulatory requirements.
User Acceptance Testing is often the final phase of the project and involves significant participation from the risk/compliance function’s business users. It should be done in an environment that simulates the real world or production situation and specific focus should be laid in terms of exact real world regulatory usage of the application/ reports.
However, in practice a large number of companies find it difficult to execute this leg of the Compliance project. This could be due to many possible reasons. There may be a lack of sufficient in-house knowledge of the Regulatory directive and what needs to be reported and therefore specialist third party support is required or there may be a scarcity of business users available to thoroughly test the technology solution and hence skilled resource is required
Leveraging the knowledge of experts from our Business Analysis practice and our Consultancy practice, we can assist in carrying out User Acceptance tests for different compliance initiatives. Our experts can help design a UAT plan that details out the key focus areas and then design the user acceptance test cases to test the system. Our team has proficiency in developing real world test scenarios for various regulatory directives and has extensive experience in implementing scenario-based testing to conduct the User Acceptance Tests.