Abstract
The article considers the relevance of the Russian organizations Agile transformation operating in the financial technology industry. The current concepts of Agile-transformation are presented. The experience of implementing Agile transformations in large Russian banks is presented. The current processes occurring during the transformation of fintech companies are presented. The conditions and features of Agile transformation depending on the scale of a fintech company are considered. Changes in the corporate culture are analyzed from the point of view of project teams and the Agile companies as a whole. Approaches to the transformation of the company’s organizational structure are presented, with the identification and description of new implemented structural elements and roles. The change in the project methodology of a Fintech company during Agile transformation is presented as a transition, implementation and adaptation of popular Agile frameworks and hybrid project approaches based on the project methodologies of Waterfall, Scrum and SAFe. The current and practical stages of Agile transformation of large fintech companies operating in the banking market are analyzed and described in detail. Assumptions are made about the potential problems caused by the escalating competition, restrictions and consequences caused by the Covid-19 pandemic. Medium-term challenges and prospects for the transition of companies to Agile in the Russian fintech market are presented.
Highlights
The active growth of Russian financial technology industry was provoked by the financial crisis in 2008
According to Deloitte estimates, in 2019 the volume of the Russian fintech market amounted to 60 billion rubles. (+ 11%), and in 2020 it grew to 65 billion rub (+ 8%)
In this article, under the Agile transformation of a fintech company, we mean a deep reorganization of the organizational structure, a transition to an agile methodology of project management and a change in company corporate culture, as a result of which it will be able to work on Agile principles
Summary
The active growth of Russian financial technology industry was provoked by the financial crisis in 2008 During this time, companies were forced to cut costs and improve efficiency and/or seek new technological solutions. The second significant factor in the development of the industry was the progress of mobile technologies, which allowed people to get round-theclock and prompt access to the Internet Today it is one of the fastest growing markets both in Russia and in the world. It is extremely important to be flexible and be able to respond in a timely manner to feedback received from customers This leads to a transition from a hierarchical organization management structure and waterfall approaches to project management and financing, agile project management approaches and a new organizational structure. In this article, under the Agile transformation of a fintech company, we mean a deep reorganization of the organizational structure, a transition to an agile methodology of project management and a change in company corporate culture, as a result of which it will be able to work on Agile principles
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