Agile Methodology Approaches European Banks

Abstract

Agile methodology is a project development or management approach that has been adopted in various industries such as information technology, education, manufacturing, and bank and finance. Although the Agile Manifesto has been released to the public since 2001, it was only in the recent decade that the European banking industry approached and applied the Agile methodology to their organizations. In this thesis, three large European banks, including Nordea, Deutsche, and BNP Paribas, are used as the subjects of the study. The paper focuses on gathering information and analyzing the motivation for Agile adoption and how the Agile methodology has been implemented in these banks, thereby showing the influence of Agile as well as the challenges that these banks have encountered.

The research structure of this thesis includes eight parts, and a qualitative case study approach is used. The first part of the research presents an overview of the Agile methodology. Second, the driving forces behind adopting Agile methodologies in these banks are investigated, considering both internal and external factors. The thesis delves into the specific strategies and steps Nordea, BNP Paribas, and Deutsche Bank took during their Agile transformations, highlighting the key milestones and outcomes achieved. The impacts of Agile methodology on these banking organizations' operation and management are analyzed, taking into account factors such as velocity, defect rates, and customer satisfaction. Then, the challenges and limitations of Agile during the implementation are explored. Additionally, insights from interviews conducted with relevant experts are analyzed, providing valuable perspectives on the Agile implementation process. The conclusion section summarizes and discusses the research findings, providing recommendations based on the insights from the case studies and interview analysis.