Agile software delivery has a higher success rate when compared to waterfall delivery. An abundance of evidence supports this. Agile results in a higher-quality product, lower costs, and a faster, more predictable delivery to market. In fact, we’ve seen a tenfold decrease in costs for delivery of identical software products for tier one banks when an agile approach is used.
Why, then, do some companies still insist on the slower waterfall process?
Blame the industry. Highly regulated industries such as financial services struggle with agile adoption due to the burden of regulatory compliance. Processes established years ago still govern, even with the software delivery landscape changing dramatically. The result is fixed costs, scope, and schedule—it’s called waterfall. For companies looking to adapt quickly, it just doesn’t work.
The good news is that financial services companies can realize 80 percent of the value of agile by changing just a fraction of their processes and practices. In this white paper, we outline how companies can implement these processes and achieve the following for competitive advantage: