Banks and insurance enterprises are not just facing challenges and opportunities in the digital age; they are in the midst of a digital revolution. Recent events, including the pandemic, have made digital transformation necessary and urgent. These industries are undergoing more than transformation initiatives; they are racing against time to keep up with rising customer expectations and technological advancements. However, research shows that only a tiny percentage of financial services leaders are reaping the expected rewards from their digital transformations, highlighting the critical need for immediate and effective strategies and implementation.

Lean-Agile methodologies are gaining traction in the financial services industry, and for good reason. According to Digital.ai’s 16th State of Agile report, 18% of financial services use Agile to adjust to market changes, enhance customer interactions, streamline internal workflows, manage risk effectively, refine products based on feedback, and foster team collaboration when tackling complex challenges. Their adoption is a significant and transformative trend for the industry.

The Agile reports in the insurance and banking industries serve as powerful top-of-funnel marketing tools strategically designed to engage financial services leaders. They aim to demonstrate the value of adopting Agile methodologies in enterprise digital transformation through industry insights and tangible benefits.

The Agile reports offer insights into these industries’ adaptation of Agile practices and trends. They are based on a survey of 1,848 participants from insurance and banking firms across 26 countries as of November 14, 2023. The reports capture the participants’ levels of agreement with various statements related to Agile concepts and principles, presented in an easy-to-digest way, making them a comprehensive and reliable resource for industry professionals. Comparative Agility, the world’s largest agility assessment instrument, analyzed and presented the data to ensure accuracy and credibility.