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Agile: 2020 – Making Davids out of Goliath banks

February 11, 2020 - Rajamaiya V P - Head - Solution consulting, Infosys Finacle


A millennium ago, kingdoms were few and the lands were large. Hence the armies were big, and the battles were few but horrific – such were banks in the decades that have gone by. Today, however, kingdoms of the yesteryear have become small street gangs. Likewise, banks no longer can settle to be rulers of large swaths of banking customer bases – They have to squeeze through the streets and rule the bustling cities from the ground-up.

The foundations of this shift in approach began with the adoption of agile in banks. 2020 however will mark the beginning of a new evolution bordering a Darwinian war for survival. Banks will relook at Agile as an approach and more as a way of life. Tall organizations will break down and realign as groups of small, flat, nimble, and empowered teams that take the fight to the streets.

No longer will market segments be sized in millions. The market segment of today is ONE. Such personalization and customization in offerings require a previously unimaginable degree of decentralization and collaboration. From empowering decision-making at every strata of the organization, to open invitations to third parties to collaborate in symbiosis, the transformation of the Goliath banks will be so drastic.

Going beyond its application in product development, 2020 will see banks adopting an ‘Enterprise-wide Agile’ across technology, operations, talent practices, business strategies, leadership and management, and ecosystems. In 2020, greater adoption of cloud, continuous integration and continuous development (CICD), and Dev-ops will accelerate the agility to assimilate changing market expectations and quickly translate them into action. The year will also see executive management team leading by example and evangelize Agile right at the helm. In the new year, hedging themselves and their ecosystem partners against the risk of potential roadblocks in the ease and speed of doing ecosystem-driven business, leading banks will take it upon themselves to accelerate ecosystem innovation through greater integration and exposure of sandbox environments to third-party developers, FinTechs, partners and regulators.

2020 will define a new face of Agile in Banking. Self-Learning, Self-Healing, and Self-Evolving parts focused on flexibility, collaboration, and immediate exploitation of every available market opportunity will sum up the bank that was and be the bank that will be.

This piece gives you a glimpse into one of the 10 trends that I believe will reshape banking in 2020. Click here to read our full report “Scale Digital: 10 Trends Reshaping Banking in 2020”.


V P - Head - Solution consulting, Infosys Finacle

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  • Nice article.

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