Digital Transformation and the Implementation of Agile Work in the Financial Services Sector – A Multiple Case Study

Abstract

Digital transformation poses challenges for incumbent financial services providers. Agile work methods are implemented as a possible response. Using Work System Theory as the underlying theoretical lens we conducted a holistic multiple case study analysis with a total of 21 interviews from three different financial services companies. This allows us to investigate three implementation journeys: (1) an agile working environment parallel to the traditional organization, (2) a complete business area implementing agile work in a horizontal internal substructure, and (3) agile methods applied in an external workspace. Our interviews indicate that agile work is suitable for traditional financial services providers to organize digital transformation projects within a holistic digitization strategy. New organizational cultures must be open-minded and inclusive toward existing structures. Back-end systems need to be compatible with the developed technologies.