At iiT WorkForce, we encourage all IT job aspirants to indulge in taking up real-time projects, as they essentially help them tackle the unprecedented challenges at the workplace. We are proud to state that we have dealt with hundreds of live projects assisting thousands of candidates since our inception. During the course of the project, we have assisted them in building their confidence, improving their subject knowledge, and having them placed in their dream job. All real-time projects at iiT WorkForce come with 100% job placement assurance. Having said that, we are tied up with New York Financial Technology Partners for providing committed real-time project training to our interns.

Enrolling for real-time project-based training in the Banking and Financial domain presents the trainees with a multitude of benefits.

• First and foremost, gaining domain expertise is the biggest advantage of a real-time project. Domain knowledge is information about the sector in which the software application is being built. It could be banking, retail, finance, healthcare, telecom, etc. For instance, working on live projects in the banking industry help the trainees learn the different systems in banking and financial companies such as the traditional banking sector and the service based banking sector, the intricacies involved in both the sectors, the banking business terminology and workflow, and so on.
• Next, the interns develop a complete command over various technologies they use within the project scope.
• The project experience can be added to their resume.

What are the advantages of doing a project in Banking Domain?

Banking and Financial services are undoubtedly the biggest consumers of IT. It is not an exaggeration when we mention that the IT controls the pulse of the Banking Sector. It is the flexibility and efficiency of the software applications that dictate the success or failure of the banking enterprise. Moreover, the requirements of the banking consumers keep changing at such a fast pace that catching up with them is a huge challenge. There are numerous transactions involved in the banking process including, transferring funds, depositing funds, withdrawing funds, balance inquiry, tracking transaction details, and so on. Furthermore, the applications developed should ensure the users of complete security from hackers.

Developing domain expertise in Banking can aid the job aspirants in gaining a foothold in the industry. It gives the trainees much-needed break, as a key does to the doorway. Like in any other domain, the Banking sector also looks for professionals who have  domain expertise due to the following reasons:

• Relevant domain expertise reduces the training time at the employer’s end.
• Domain knowledge helps in easy defect tracking.
• Software professionals with domain expertise can understand the UI features and backend processing better than people who don’t.
• Industry knowledge gives software developers a better understanding of business rules and workflow.
• With domain knowledge, they can understand the technical terms and jargon better.

Though the banking sector is huge, it can be broadly classified into

• Traditional Banking sector
• Service-based banking sector

Traditional Banking Sector:

The traditional banking sector can further be classified into

• Core banking
• Corporate banking
• Retail Banking

Service-based banking sector:

The service-based banking sector has the following categories

• Core
• Corporate
• Retail
• Loan
• Private banking
• Trade finance
• Consumer finance
• Frontend delivery

Software application development may require domain knowledge in one or many of these banking divisions.

What projects are available in Banking Domain at iiT WorkForce?

From requirement collection to planning to design to application development to testing the application for bugs to deployment, there are numerous phases involved in end to end Software Development Life Cycle (SDLC), until the project is delivered to the client. A wide range of technology experts is employed to implement different phases of the project.

Although, we have been instrumental in driving numerous projects through completion, currently, we are dealing with Quality Assurance Manual Testing project in the banking and financial domain.

Quality Assurance Testing for Banking Domain  

Name of the Project: QA Manual Banking Project

Client: New York –  Financial Technology Partners

About New York – Financial Technology Partners

They are one of the youngest and happening firms in the USA, who are essentially into offering financial services to the consumers. They help their clients transfer money from the comfort of their home to anywhere across the world. They facilitate 24×7, hassle-free, safe and secured money transfer options. They ensure that all their users’ money transfer needs are well-catered to.