Agile in the Banking Industry: Exploring Multiple Levels of Agile Transformation Process Facilitators and Challenges from a People Perspective

Due to new technological developments and the rising competition of FinTech’s, financial organizations need to be faster and more flexible than ever before. Therefore, large banks are increasingly starting up Agile Transformation Processes, or have already begun to. As Agile puts people over process, it is important to examine the Agile Transformation Process (ATP) and its challenges from a people perspective. We perform a Grounded Theory study involving seventeen participants across four different banks transforming into agile. We find four levels of ATP outcomes that, in turn, can influence the ATP. These outcomes that arise during the ATP can serve as facilitators or can form challenges for the further development of the ATP. The multiple levels on which these facilitators and challenges emerge include individual, team, management and organizational level. This research has practical implications for organizations that are starting or have already started the ATP.