Any large, complex project can benefit from an Agile approach. In financial services and insurance, this includes software development, business transformation projects, or regulatory and compliance-related projects.
Financial services companies have, in many cases, been slower to adopt new management techniques. The industry is reliant on secure and proven approaches and can therefore be slower to change. This has changed, though, especially as competition across financial services has increased. Banks, insurance providers, and other companies all want to respond faster and better meet their customers’ needs.
Research from consultancy McKinsey has shown that Agile techniques can improve customer satisfaction by up to 30%. Companies can also benefit from a 30% to 50% improvement in operational performance.