Using Agile Methods In Financial Sservices
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Using Agile Methods In Financial Sservices



Introduction to Agile in Financial Services

Introduction to Agile in Financial Services



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Using Agile Methods In Financial Sservices Using Agile Methods In Financial Sservices Presentation Transcript

  • Using Agile Methods in Financial ServicesHow to get more satisfied customers, quicker using Applied –AgileFrom a talk byGian Mahil
  • Contents Why we need a new approach How Agile can help The Agile Value Proposition Case Study -1 Case Study - 2 Case Study – 3 Our Clients About Us All Rights Reserved CEC (2011)
  • Why we need a new approach Albert Einstein once said "The definition of insanity is doing the same thing over and over again and expecting different results". Financial services is characterised by the speed of change, regulatory and commercial as well as the size of projects. The ‘Water fall’ approach has a strong following in financial services despite its failures, as it is seen to be the traditional (and the right) way to do things. However, in most cases it leads to long deliveries time lines and failure to meet business needs. Millions are wasted in Financial Services on projects that fail to deliver their promises While project requirements are being gathered the business is changing. Hence the users reluctance to commit. While the project undergoing testing the world has already changed and the systems/ process is no longer relevant! Hence the users disappointment. All Rights Reserved CEC (2011) View slide
  • How Agile can helpPrinciples behind the Agile ManifestoOur highest priority is to satisfy the customer through early and continuous delivery of valuable software.Welcome changing requirements, even late in development. Agile processes harness change for the customers competitive advantage.Deliver working software frequently, from a couple of weeks to a couple of months, with a preference to the shorter timescale.Business people and developers must work together daily throughout the project.Build projects around motivated individuals. Give them the environment and support they need, and trust them to get the job done.The most efficient and effective method of conveying information to and within a development team is face-to-face conversation.Working software is the primary measure of progress.Agile processes promote sustainable development. The sponsors, developers, and users should be able to maintain a constant pace indefinitely.Continuous attention to technical excellence and good design enhances agility.Simplicity--the art of maximizing the amount of work not done--is essential.The best architectures, requirements, and designs emerge from self-organizing teams.At regular intervals, the team reflects on how to become more effective, then tunes and adjusts its behaviour accordingly. All Rights Reserved CEC (2011) View slide
  • The Agile Value Proposition By delivering working, tested and deployable deliverables on an incremental basis, Agile delivers increased value and visibility much earlier in the life cycle as shown below. Agile also delivers adaptability throughout the lifecycle Finally because of the high levels of customer interaction it reduces risk much more quickly. All Rights Reserved CEC (2011)
  • Case Study 1 – Post Trade Support Transformation at a global bank Scenario: An international global bank wanted to reduce their Investment Bank post trade support costs for all products by moving support from offshore to a mixed model. The savings for the bank were estimated to be several million $ per year. Our Solution: Working with the key stakeholders we used an Agile approach and took the existing process and updated them to reflect the future state . We next used the same approach to implement new processes for US, Canada, UK, Middle East, Brazil, India, Singapore, Hong Kong and China. It was risky approach for the bank not to take a traditional waterfall approach. However after successful implementation they realised that a waterfall would have been more riskier and lead to failure. Our approach was nimble and worked with the bank and allowed them to start realising the benefits and thus improve their bottom line. All Rights Reserved CEC (2011)
  • Case Study 2 – Post Trade Transformation at a investment bankScenario:A global German Investment bank wanted to consolidate post trade support for a over a hundred twentyapplications to a single support team. The savings for the bank were estimated to be several millionEuros per year.Our SolutionWorking with the key stakeholders users we used an Agile approach and took the existing supportprocesses and ensured they we all catalogued.We an Agile approach to take support off the incumbent team and transfer knowledge and skills to thenew team. We held daily stand ups for each knowledge transfer and monitored progress from a centraloffice in London.Using this approach we had transferred support for over a hundred and twenty applications within ayear and had work lined up for the next three years.Our approach was nimble and worked with the users to meet their demands and keep a focus ondelivery at the same time.Our approach meant the bank was able realise headcount savings in high cost trading centers andtransfer support to low cost locations. All Rights Reserved CEC (2011)
  • Case Study 3 – Finance Transformation at global bankScenario:A global bank embarked on multi million pound finance transformation – that would take up to threeyears to complete. However, the bank wanted to see results quickly and not have to wait to the end tostart realising benefits.Our SolutionWorking with key stakeholders we used Agile principles to devise a release strategy that would deliverbenefits early by splitting up the delivery in to discrete releases.Further the development approach within each Release also used an Agile to increase user involvementand engagement from the very beginning.This approach meant that the bank and business users could start to see benefits much earlier thanthey would with a traditional waterfall approach. All Rights Reserved CEC (2011)
  • Our Clients Lloyds Group Barclays Bank RBS - Direct Line Fortis Bank Virgin Money Abbey National Marsh & Mc Lennan Money Extra RCMS Deutsche Bank Misys BSKYB Union Bank of Norway AT&T BMW Rover Group Industrial Bank of Japan SBC Warburg ATG Wachovia Bank QEDIS Barclaycard PIPC HCL Reveleus HSBC Investment Bank All Rights Reserved CEC (2011)
  • About Us About Us Applied-Agile is a division of Cutting Edge Consulting based in Harlington in England. Our parent company Cutting Edge Consulting was started by Gian Mahil in 1996. Gian wanted to set up a client orientated services consulting company. Since then CEC has worked with many financial services clients internationally to deliver results fast. Applied-Agile operate in financial services and have domain expertise in retail, investment banking, Treasury and Risk as well as insurance. A list of the clients we have worked with in the past can be found on our clients page. Applied-Agile have used Agile in various types of projects – not just systems development projects. We can demonstrate its usage in Global Transformation and pure Change Management programmes in some of the largest companies in the world.For further information please contact Gian Mahil at ortel +44 (0)793 721097Alternatively, visit our website All Rights Reserved CEC (2011)