Applying an “Agile” approach to business – Capital One Bank (case study)
Capital One and the need for Agility
➢ Capital One bank employs more than 47 000 people with a revenue reported of $25 billion (2016).
➢ It is a diversified bank that offers a variety of financial products and services to consumers, small businesses and commercial banks.
➢ After launching in the 90s it was one of the smallest banks in America and this aided to their advantage as they were able to react to market demands rather quickly.
➢ On expansion the bank lost some of its agility with delayed processes and out dated systems.
Agility implementation
➢ The bank began the process with name change of the IT Group to Capital One Technology, the name symbolised the focus
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Knowing the organisation relied on a lot of outsourced functions, the team set out to start insourcing all functions.
➢ The question that remained a constant was “How do we work in a way that allows great talent to do great work?” ( Rob Alexander, CIO, Capital One)
➢ The Agile workforce creation began, ground level was responsive, and the support of upper management had much room for improvement.
➢ Scale Agile Framework was considered the best Framework to guide the bank’s transformation purpose.
A number of objectives were met to ensure that the implementation was one that was seamless and efficient.
➢ 100% training: all team members attended Agile 101 training. Employees can now choose from a number of SaFe courses at the Capital One University.
➢ Empowering teams: Teams were initially resistant to change but upon understanding and clarity they soon embraced the new approach. People who never had a reason to speak to each other were now more comfortable to initiate conversation amongst each other.
The teams had a challenge of delivering independently because outside dependencies slowed down the process, this was solved by equipping every team with the ability to reach and deliver the end product
The concept of agile management enables the program to meet its needs and provides a value for business effectively and efficiently, unlike the traditional project management which was highly based
In this endeavor of team building, the management improved on creating team contracts. They also impleme...
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