Challenges of Agile Adoption in Banking Industry: A Systematic Literature Review

Abstract

Bank is a highly regulated institution, therefore, should comply with the regulation set by the authorities. Executing a project in a bank will need persistent examination and highly anticipated documentation. The bank industry faces pressure because of arising new and nontraditional competitors who use the agile approach. However, there may appear challenges during the adoption because the bank industry usually uses a traditional approach. Hence, a study based on a systematic literature review was conducted to understand the possibility of agile adoption in the banking industry and to explore the challenges concerning agile adoption in the banking industry across the globe. From each challenge will be discussed the solution to deal with it. Knowledge areas from PMBOK (Project Management Body of Knowledge) were used in this study to map those challenges. The most mentioned challenges come from project integration management and project resource management. The challenges also mapped into project scope management, project cost management, project risk management, project schedule management, project communications management, project quality management, and project stakeholder management. The banking industry used SATP and SAFe to ease agile adoption if it complies with the regulation. The result provided in this can help academicians to better understand the challenges of agile adoption and potential solutions in the banking industry. As the practitioners can get insight and lessons learned provided in this paper to solve the challenges.