why innovation! case study - Enhancing business Agility and Value-stream scaling for a global bank

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why innovation! case study - Enhancing business Agility and Value-stream scaling for a global bank

banking
LEADING GLOBAL BANK
Hong Kong
Enhancing business Agility and Value-stream scaling for a global bank
Context
image of man studying a wall of data

A large global bank based in Hong Kong want to remain competitive by developing skills that will enable them to respond quickly to disruptive market forces. In addition, meeting this requirement will empower them to deliver better business & customer support.

The bank wants to achieve these capabilities by adopting Business Agility. This requires evolving the design and implementation of their value stream as well as developing a business Agility mindset coupled with strong Agile values.

Challenges
Image of business people discussing strategy
  • The banking environment has complex internal structures. Teams distributed across several countries resulted in multi-layer dependencies spread across teams, products and technology. This structure, a result of the waterfall approach, contributed to the slowness at which it launches products to the market
  • Staff lacked experience and knowledge in Business Agility, Agile mindset, principles, frameworks and the various Agile practices. Agile roles and responsibility were not clearly understood by all.
  • Methods of collaboration from value stream, sub-value streams, and product teams are complex. Requires fast response, synchronization, and transparency for cross products issues. Cross product teams find it difficult to obtain real time data of project status.
Outcome
Image of Agile process broken down into weekly sprints
  • Set up a full delivery framework for the new scale Agile teams to work on the value & sub value streams. Established a Way of Working enabling the teams to quickly react to market changes and deliver solutions fast
  • Scalable team structures and Agile ceremonies were implemented based upon the products per value & sub value streams. Outcome-based measurements and cross product dependencies were also implemented to improve delivery and the ability to measure success. 10 scaled sub value streams were set up to run the new Way of Working in seven months
  • Client is trained with necessary skills such as the various Agile frameworks & practices (including Agile mindset) as well as tooling capabilities for data base transparency & management for future growth. Client is also now capable of prototyping and developing working products more frequently than once per annum