Agility in a large institution? Yes, if we start with the right processes
Agility (also known as agile) is not just a project methodology – it is, above all, the ability to rapidly respond to change, test solutions, and learn continuously. In the world of banking and insurance, it is often equated solely with small, agile IT teams. However, real agility begins where key business processes run.
Why is agility difficult in large institutions?
- First, the complex organizational structure and long-standing procedures play a role.
- The second factor is so-called silo thinking – a lack of shared goals and understanding between IT, business, and operations.
- Other factors are legacy systems and limited technological flexibility.
Where should we start to make agility make sense?
- Organize and standardize processes.
Before we "act agile," it’s worth taking care of the foundations: understanding how processes flow and where bottlenecks occur.
- Process inventory and optimization
The next key step is to identify processes with high change potential. Those that are costly, slow, and heavily based on manual work.
- Implement tools that support flexibility.
Remember the "toolbox": BPM, low-code/no-code tools, microservices – those solutions that enable quick process changes without heavy coding.
- Create interdisciplinary teams around processes.
Instead of the classic division of "business" and "IT," it’s worth building teams around a particular process or goal (e.g., mortgage, client onboarding).
Examples of where to start
- Complaint process – high volume, many contact points, potential for automation, and effect measurement.
- Client onboarding process – fast digitalization can improve CX and reduce fulfillment time.
- Policy and claims servicing – improvements translate directly to operational efficiency.
What does an agile approach to processes provide?
- Faster adaptation to market and regulatory changes
- Shorter time to deliver new features or changes
- Better cooperation between departments and higher engagement
- Visible effects of digital transformation – not just in IT
Agility in banking and insurance is not a myth. It’s a matter of approach to processes and a culture of cooperation. The better you understand your processes and the faster you can change them, the more agile your organization becomes.
Want to find out which processes to start with at your institution? Talk to Finture experts.
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