Year: 2024
Type: article
Abstract: In order to meet the rising expectations for rapidity, adaptability, and creativity in today's digital economy, more and more international financial IT projects are embracing Agile and hybrid approaches, such as Scrum and Kanban. Financial organizations are under intense pressure to both speed up their development cycles and guarantee compliance with regulatory standards like SOX, Basel III, and GDPR. The shift from Waterfall to Agile and hybrid models in heavily regulated financial settings is examined in this research. Highlighting iterative approaches that enhance response to security threats, fast shifting company needs, and market trends, we study emerging governance models that balance Agile's pace with compliance and audit requirements. Management buy-in, pilot projects, training, and cultural fit are some of the success and obstacle elements highlighted in this study, which draws from scholarly literature and business case reports. Lastly, in order to fulfill compliance demands, we present a specialized project management system that combines lean-Agile methodologies with clear regulatory controls and documentation needs. Financial institutions may strike a balance between innovation speed and regulatory constraints with this hybrid architecture, which guarantees regular delivery, ongoing feedback loops, and embedded governance checkpoints.
Authors: Balajee Asish Brahmandam, Srinath Chandramohan
Language: English
Subfield: Information Systems
Field: Computer Science
Domain: Physical Sciences
Open Access status: hybrid
OpenAlex ID: W4410139680