success/state-owned-commercial-bank-developing-and-implementing-a-scrum-based-agile-framework

State-Owned Commercial Bank: Developing and Implementing a Scrum-based Agile Framework

State-Owned Commercial Bank:

Developing and Implementing a Scrum-based Agile Framework

Industry: Banking, Financial Services & Insurance

Delivery Center: Costa Rica

talk to an expert

Developing and Implementing a Scrum-based Agile Framework

Industry: Banking, Financial Services & Insurance

Delivery Center: Costa Rica

talk to an expert

Industry Context

Over the past decade, the FinTech industry has mostly shed its rigid structure of processes and frameworks, recognizing the pressing need to embrace technology and adapt swiftly to change.  

Amidst this dynamic FinTech environment, banks faced a crucial challenge: how to stay competitive while evolving and delivering innovation. Adopting new practices and methodologies became imperative, with Agile frameworks emerging as the optimal solution. 

Against this backdrop, one multinational  bank embarked on a transformative journey. Recognizing the significance of implementing Agile frameworks, they sought to optimize processes, enhance standardization, and accelerate time-to-market.  

CS Banking Industry

Client Challenge

With five solution departments, fifteen operational areas, and more than forty-five development teams, the client’s operations and processes seemed too complicated to be sustainable. 

What was the heart of the problem? The client had stiff processes and was bound to the inherent strict rules and norms of the FinTech industry that stifled innovationAdditionally, projects were executed using the Waterfall approach, burdened by extensive and intricate requirements that often felt like an uphill battle. Moreover, the collaboration between IT areas and solution departments faltered, hindering progress and creating silos that suppressed creativity.  

In the middle of all this, it became evident that the client was missing a standardized Agile framework. With no clear prioritization or estimation model in place, the path to streamlined value delivery remained elusive.  

FT Challenge-1

Approach

Helping the client navigate a complex structure, stringent regulations, limited collaboration, and the absence of a standardized Agile framework, Encora delivered meticulous assessments, trainings, and continuous improvement cycles towards greater agility. 

  • Held trust-building sessions to foster open dialogue, get stakeholder buy-in, and create a collaborative partnership. 
  • Held training sessions and workshops to immerse the client in Agile principles, tools, and best practices.  
  • Defined a meticulous Agile framework based on Scrum.  
  • Redefined and consolidated the client's teams to empower cross-functional collaboration and iterative development. 
  • Conducted evaluations and audits to gauge the progress of Agile adoption. 
FT Approach

Results

  • Over 500 professionals underwent rigorous training, equipping them with necessary skills for Agile 
  • The Agile framework adoption led to increased maturity, with over 90% of teams embracing it successfully 
  • Real-time metrics and reporting provided insights for progress and improvement.  
  • By reducing sprint length to two weeks, frequent and consistent value delivery was achieved. This enabled swift adaptations, quicker response to market demands, and accelerated time-to-market 
  • User Story sizing improved from 13 to 3-5 points, enhancing estimation accuracy 
  • 40% of teams completed quality certification, boosting confidence and competitiveness 
Blog Handling Scope Change in Agile

User Story Points

User Story Points

Sprint Length Metrics

Sprint Length metrics -50%

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Santa Clara, CA

+1 (480) 991 3635

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Innovation Acceleration

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Santa Clara, CA

+1 (480) 991 3635

letstalk@encora.com

Innovation Acceleration