EFT Testing: Assessing Performance of Electronic Funds Transfer Mechanisms
EFT Testing has emerged as an innovative technique for verifying the integrity, safety, and reliability of electronic funds transfer methods. With the ever-increasing advancement toward a digital world, many organizations - companies, banks, and financial institutions - rely on electronic transactions to conduct daily business; therefore, it is essential to authenticate the integrity of their electronic payment system. EFT Testing is imperative for determining weaknesses, ensuring correct transactions, and enhancing the reliability of the entire financial system. Benefits of EFT Testing for a Business EFT Testing has many advantages for businesses and financial institutions. If all transactions are processed correctly, there is less potential for financial errors and fewer customer complaints. EFT Testing helps identify potential weaknesses and allows for improvements to create and/or maintain strong security processes, reducing a business's exposure to unauthorized transf...