Implementation of comprehensive software change management processes in banking IT

Posted: Oct 03, 2021

• Samuel Thomas
• Samuel Thompson
• Sarah Carter

Abstract

The banking sector faces unprecedented challenges in managing software changes while maintaining regulatory compliance and operational stability. Traditional change management frameworks, developed during an era of monolithic applications and quarterly release cycles, struggle to accommodate the rapid pace of digital transformation in modern financial services. Current approaches often create significant friction between development teams seeking agility and compliance officers prioritizing risk mitigation. This research addresses the fundamental tension between innovation and control that characterizes contemporary banking IT environments. Financial institutions operate under stringent regulatory requirements that mandate thorough documentation, testing, and approval for all software modifications. These requirements, while essential for maintaining system integrity and protecting customer assets, frequently result in change management processes that impede digital transformation initiatives. The average banking organization implements approximately 500-1,000 software changes monthly across their technology ecosystem, with each change requiring multiple layers of approval and extensive documentation. Our research introduces a paradigm shift in banking software change management by developing a comprehensive framework that leverages emerging technologies to reconcile the seemingly contradictory objectives of compliance and agility. We propose a novel approach that transforms change management from a bureaucratic hurdle into a strategic capability, enabling financial institutions to accelerate innovation while strengthening their regulatory posture. The framework incorporates quantum-inspired risk assessment, blockchain-based audit trails, and machine learning-powered impact analysis to create a dynamic,