Agile Software Process Improvement By Learning From Financial And Fintech Companies: Lhv Bank Case Study

A large shift towards the use of agile software development in different industrial sectors is evident nowadays. Financial institutions are not unfamiliar with this tendency since they have the need to respond faster to the changes in their business environments. This is partly due to the new generation of financial technology (fintech) companies that have shown a significant difference in time to market and in speeding up software development. To compete with fintech companies, financial institutions are looking for improving their software development processes focusing on applying agile practices in a better way. This article presents a set of proposals to improve software development in the LHV Bank. The set of proposals has been determined through a literature review and interviews conducted in two leading financial institutions and two fintech companies. The analysis done allowed us to understand the best practices that are currently being applied, how they are implemented, and which ones are suitable for application in LHV Bank.