BANKING
“ Cloud service providers , like many fintech providers , have built entire development and support models around Lean / Agile and DevOps ”
But what do the terms ‘ lean and agile ’ actually mean – and how exactly do they improve performance in financial institutions ? Steve Strickland-Wright , CTO of Fluent Money Group , explains the concept .
“ It ’ s a good idea to remember what the terms ‘ lean ’ and ‘ agile ’ stand for ,” he says .
“ Going back to basics , ‘ agile ’ is focused on software and the delivery of value into a business . In the agile manifesto , you can see just what it represents : collaboration , focusing on value , and delivering to appropriate standards . It ’ s about avoiding verbose , heavy documentation and not over-thinking . And for ‘ lean ’, it ’ s all about optimisation , delivery and production .
“ For me , the impact of these two things is an industry seeing fewer drawn-out projects following a waterfall delivery model , overplanning and over-analysing .”
Lean and agile technology Cloud technologies have been massively instrumental in creating a lean and agile environment . With real-time data transfer , aggregation , secure storage and more , these services , which are available to all businesses , have cut the fat from timeconsuming , labour-intensive processes in the financial services industry .
Carmody explains , “ Cloud service providers , like many fintech providers , have built entire development and support
SEVEN principles of Lean & Agile practice
• Optimise as a whole , not just departments
• Eliminate waste – in time , products and processes
• Build-in quality – it ' s not an afterthought
• Create knowledge – and share it
• Defer commitment – keep options open
• Reliable service – delivered quickly
• Respect for staff – keep your talent