Comprehensive Framework for Implementing Agile Methodology in Banking Software Project Management

Posted: Sep 28, 2019

• Isabella Thomas
• Jack Allen
• Jack Gonzalez

Abstract

The banking industry stands at a critical juncture where digital transformation demands rapid software development while regulatory requirements impose rigorous controls and documentation. Traditional waterfall methodologies, while providing the structured approach necessary for compliance, fail to deliver the speed and adaptability required in today's competitive financial landscape. Conversely, standard agile methodologies, though excellent for rapid iteration and customer responsiveness, lack the inherent controls and documentation trails mandated by banking regulators. This fundamental conflict has created an implementation gap that current hybrid approaches only partially address. Our research addresses this gap by proposing a comprehensive framework that fundamentally rethinks how agile principles can be implemented within banking software project management. This paper makes three primary contributions to the field. First, we introduce a novel Regulatory Compliance Integration Layer (RCIL) that embeds compliance requirements directly into agile workflows. Second, we develop a dynamic risk assessment methodology that evolves throughout the development lifecycle. Third, we present empirical evidence from real-world implementations demonstrating the framework's effectiveness in balancing agility with regulatory compliance.