Black box testing techniques are important to test the functionality of the system without knowing its inner detail which makes sure correct, consistent, complete and accurate behavior or function of a system. Black box testing strategies are used to test logical, data or behavioral dependencies, to generate test data and quality of test cases which have potential to guess more defects. Black box testing strategies play pivotal role to detect possible defects in system and can help in successful completion of system according to functionality. The studies of five companies regarding important black box testing strategies are presented in this thesis. This study explores the black box testing techniques which are present in literature and practiced in industry as well. Interview studies are conducted in companies of Pakistan providing solutions to finance industry, which is an attempt to find the usage of these techniques. The advantages and disadvantages of identified Black box testing strategies are discussed, along with it; the comparison of different techniques with respect to most defect guessing, dependencies, sophistication, effort, and cost is presented as well.