Growing competition in the financial services sector requires quick software development and rollout at an even extraordinary speed. The organizations that fail to keep up the pace are on the verge of not meeting customer expectations.
In this article at Finextra, Konrad Litwin explains how ‘application lifecycle management’ (ALM) in the financial services will benefit from a frequent software update. It will also help in supporting the legacy customers and their compliance requirements.
Role of Agile
ALM is undergoing a revival as organizations are escalating the need to look at the whole software lifecycle. If ALM is applied with agile, it will lead to faster delivery of quality software releases, improved collaboration across times, and prioritization of customer needs. Follow these principles of agile ALM to better understand the difference between the conventional and agile ALM:
- Individuals & Interactions: The conventional ALM is ruled by certain steps for product completion while agile ALM focuses on cross-functional team interaction. Gathering necessities is primarily a collaborative process as products are built and tested in sprints. This supports better collaboration throughout the process.
- Working Software: The conventional ALM requires extended documentation that is hard to manage. Agile brings fast releases instead of documentation. The hybrid agile model fills the gap by providing the documentation needs following agile principles.
- Customer Collaboration: Traditionally, customer feedback in ALM is delivered for bug fixes without informing requirements. In agile ALM, customer feedback also includes requirements.
- Change Over Plan: The agile ALM keeps pace with the flexible world and is designed to respond to change. It helps the teams to become more productive by delivering the right functionality at the right time and compact costs.
Click on the following link to read the original article: https://www.finextra.com/blogposting/15400/keeping-up-with-customer-expectations—with-agile-alm