{"id":35228,"date":"2021-07-07T13:35:52","date_gmt":"2021-07-07T11:35:52","guid":{"rendered":"https:\/\/www.intellias.com\/?p=35228"},"modified":"2025-01-31T12:38:48","modified_gmt":"2025-01-31T10:38:48","slug":"agile-in-financial-services-what-it-takes-to-run-an-agile-bank","status":"publish","type":"blog","link":"https:\/\/intellias.com\/agile-in-financial-services\/","title":{"rendered":"Agile in Financial Services: What it Takes to Run an Agile Bank"},"content":{"rendered":"

The call to become an \u201cAgile financial company\u201d has been making the rounds since the early 2010s. But despite being nearly a decade in the making, there\u2019s still a lot of mystical woo-woo around what it means to be Agile.<\/p>\n

Many talk about Agile as a cultural practice. But a strong culture emerges out of shared best practices, which, in turn, are based on processes. In this post, we talk about how any incumbent bank can put the right Agile practices at its core.<\/p>\n

What is Agile in the banking industry?<\/h2>\n

Agile is an operational strategy focused on breaking lofty, long-term, hierarchical processes into smaller increments for continuous execution. Originally conceptualized as an approach to software development, Agile has since made its mark across an array of operational processes, from marketing to procurement.<\/p>\n

\n\t\t\t
\n\t\t\t\t
\n\t\t\t\t<\/svg>\n\t\t\t\t\t

Agile is not a destination \u2014 it\u2019s a path towards changing how your organization define roles, plans, accountability, and mechanisms for responding to market changes.<\/p>\n\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t<\/blockquote>\n\t\t<\/section>\n

An Agile financial company, in turn, is an entity that has a strong but flexible process for determining which product features are due for production next, who will take the lead, and how a new project will be integrated with other operations.<\/p>\n

Unlike traditional chain-of-command financial organizations, Agile financial players focus on solving targeted pain points on customers\u2019 journeys with equally sized teams that are fully responsible for developing solutions for particular issues.<\/p>\n

Key characteristics of Agile tech teams:<\/p>\n