How To Optimize The FinTech Software Release Management Process

In the fiercely competitive world of IT, bringing new software to market can be a complicated task, with challenges at every stage of the process: assembling a team, finding a suitable market, developing the product, and then marketing it. Companies should be able to handle multiple challenges simultaneously to ensure an uninterrupted supply of their products. 

Fintech software release management process

Release management

Release management is the process that oversees the phases of the software development cycle, including planning, scheduling, control, and deployment. Its main objective is to ensure that the technology and upgrades required by the business are delivered efficiently and on time.

Release management roles

Without effective version control, companies risk wasting development timelines, underutilizing resources, and prioritizing the delivery of low-impact features. During this process, release managers play an important role as they are supposed to bridge the gap between the internal deployed code and external user stories perspectives and ensure that work is prioritized effectively in each sprint.

Flow

As mentioned earlier, the specific steps in the release cycle vary by business and even by software, but the following process flow is perhaps the most common.

Request

The first step for a version manager in the software development cycle is to submit a request for new technology or changes to existing software. Therefore, each request is evaluated in terms of logic, feasibility and whether it can be met by reconfiguring an already production version of the application.

Plan

Release managers are responsible for creating a plan that keeps the development team on track and ensures that all requirements are met in this phase that defines the release structure. The plan should not only outline the process scope and critical milestones, but also specify the roles and responsibilities of the DevOps teams and the individuals who make them up.

Design and build

During this phase, all software requirements are converted into code. The new version is designed and implemented into the software to be launched.

Testing

After the code is complete, the next step is to test the software. This phase includes non-functional and functional testing of the software. This iterative process repeats itself until the development team and the product owner consider the build ready to go.

Development

However, this stage requires more than simply making the software available for download and installation; it also includes informing users about new features.

After deployment

Releases are fully functional and ready to use, and if any bugs are discovered, a change request can be submitted. Once this happens, the entire release management process can be restarted.

Ways to make your FinTech release management process successful

With a well-thought-out release plan and an appropriate approach to software releases, the process will be more efficient and stress-free.

Conclusion

Software release management monitors and manages the software release steps, including building the software, performing the necessary tests, and deploying the finished product. The process is critical to ensure that a fully functional product is released otherwise, the business risks customer dissatisfaction and possible financial loss.