Agile methods in the financial services industry: a Systematic Literature Review

Abstract

The aim of this thesis is to explore previous research on agile methods in the financial services industry, especially within banking and Fintech. The focus is on agile in general, as well as on specific agile methods such as Scrum, Kanban, XP, and hybrids. In addition to this, this study aims to explore factors regarding the implementation of agile, providing actors within the financial services industry an overview on the topic. In this study, banking, Fintech, the collaboration between them, and the Agile approach with its values, principles, and methods are discussed. The results of this study are primarily drawn from a systematic literature review, which is conducted in the databases BASE, EBSCO, Google Scholar, SAGE Journals, Science Direct and SpringerLink. The review results in 881 articles from the years 2018 to 2022, of which 29 are included in this study. The findings suggest that recent research on agile regard company-specific success stories, country-specific research, project management, scaled agile, a changing world, and a deeper understanding on agile. When implementing agile, relevant factors include a gradual plan for adoption, practical implications for the organization, the importance of proper training, vast support from the management, constant reflection on what has been done, and functional teams.