Analyzing Agile Methodologies in Banking IT Systems in Singapore

This report examines the effectiveness of banking IT systems in Singapore in embracing Agile methodologies and modern technologies to enhance customer experience. The study explores the importance of business agility in responding to changing environments and customer expectations, analyzing the impact of Agile practices on organizational culture and the delivery of improved customer experiences. It investigates how Agile delivery frameworks can transform legacy systems to support digital experiences and influence migration across value chains. The research employs a positivism philosophy and an inductive approach, focusing on data analysis to assess the strengths and weaknesses of Agile methodologies in the banking sector. The report also reviews literature on business agility, digital banking, and the role of technology in banking, highlighting the importance of organizational culture and structure in adopting new technologies and responding to environmental changes. The research methodology includes discussions on research philosophies, approaches, and design, emphasizing the significance of data collection, analysis, and interpretation in finding solutions for the current issues in the study.

Banking IT systems to embrace the
Agile methodologies and modern
technologies to deliver business

Table of Contents
INTRODUCTION...........................................................................................................................1
Research Aim..............................................................................................................................1
Research Objectives....................................................................................................................1
Research Question.......................................................................................................................1
Rationale of the study..................................................................................................................1
LITERATURE REVIEW................................................................................................................2
RESEARCH METHODOLOGY.....................................................................................................3
DATA ANALYSIS .........................................................................................................................7
Introduction.................................................................................................................................7
Qualitative Analysis....................................................................................................................7
RESULTS AND DISCUSSION....................................................................................................10
RECOMMENDATION AND CONCLUSION.............................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
In the present time, there is huge scope of technology as it continuously changing due to
its high demand by users. In every sector such as retail, hospitality, banking, pharmacy etc
required an effective technology through which various business activities and function can
conducted. In the sector of bank, technology plays a very vital role in the present time as there
are various kinds of facilities and service which can conduct by use of the latest technology. In
the present study, the major aim is to analyse the effectiveness of banking IT system with respect
of banking sector in the Singapore. In this study, scholar focuses on the improvement in business
agility for respond to changing business environment and customer expectation.
Research Aim
To analyse the effectiveness of Banking IT system to embrace the Agile methodologies
and modern technologies to delivers effective customer experience within banking sector.
Research Objectives
 To analyse if improvement in business agility to respond to changing business
environment and customer expectations and agility have impact on the customer
expectation and changing environment
 To evaluate the build and nurture an organisational culture which is Agile-minded and
focused on delivering an improved customer experience and agility have impact on the
delivery
 To analyse the strengths of the Agile delivery framework to transform legacy system into
supporting a digital system experience and agility have influenced migration across
system on the value chain
Research Question
 What is the business agility in the banking sector?
 Analysis of the organisation culture which is Agile-minded and focused on delivering an
improved customer experience in the banking sector
 What is the strength of the agile delivery framework to transform legacy system into
supporting a digital system experience
Rationale of the study
In the present study, the major reason for selecting this subject about the digital banking
system and agility framework because scholar have huge interest in this topic and researcher
1

wanted to identify and analysis various aspect about this section. It is the latest scenario in the
present changing environment so scholar has been selected this topic.
LITERATURE REVIEW
Business Agility in the Banking sector
According to the view of Shaikh, Hanafizadeh and Karjaluoto, (2017) in the present
time, every business sector largely affected by the changing business environment and its various
components. It is very important within the company to have some effective and excellent
quality and traits by which it can easily cope up with changing environment. Business agility is a
kind of distinct quality and efficiency of the corporation which allow company to adopt changes
and fluctuation in the internal and external environment without loss its mission, vision and
value. In the opinion of van Esterik-Plasmeijer and et.al., (2017) It is very important for the
company to have effective quality and flexibility through which it can balance with other threats
of the external and internal environment. In the banking sector, business agility is very important
by which it can cope up with the changes. In the present time, there are various things which
continuously changing and which can largely impact on the banking system and process. In this
manner, technology is one of the most important aspect which can largely influence to the
banking system, process and methods. Sunami, (2017) stated that in the context of banking,
business agility is that measure by which it can cope up with changing technology and deliver
effective services to customers. In the present time, digital banking is one of the famous scenario
which changes every individual life. It is refers to the online banking under which all financial
transaction can happen by use of internet. In the present business environment of bank, internet
banking and online system is continuously expanding so it is very important for bank to improve
its agility so as it can survive in the changing environment and deliver effective services to
customers.
Analyses of the business agility to respond to changing business environment and customer
expectations as agility have impact on the customer environment
According to the view of Gautam, (2012) in the banking sector it is very important to
develop an impressive Organisation culture and environment by which it can become agile
minded that consider on delivering effective customer experience about the banking services.
Culture and system of bank should be flexible so as it can easily adopt the changes in the
2

technology and methodologies. In the opinion of Shih, Chen and Chen, (2013)Organisation
should improve its culture and structure so as it can adopt new technology and environmental
changes accordingly. In the banking sector, agility of the corporation can speedy adopt the new
changes and make the services accordingly. In this sector, agility is very important by which
bank can deliver effective banking services and facilities according to the changing technology
and environment. While bank adopts the agile minded system then it may become easily adopt
the environmental and technological change in the bank. Agility of bank can deliver effective
customer satisfaction because it works according to changing environment and delivers the
services accordingly. In addition to this, if bank have an effective working environment like all
system, policies, procedure of bank conducted in an appropriate manner so as customer can
effectively get the banking services and facilities.
Analyse the strengths of the Agile delivery framework to transform legacy system into
supporting a digital system experience and agility influence migration across systems on the
value chain
According to the view Zarrabi, Nazari and Akbari, (2014) Agile refers to the nature of
any individual, organisation and institution by which it can easily move where is it is
requirement. While this kind of nature adopted by the corporation then it can easily adopt the
changes according to the environmental changes. In the context of bank, if this kind of nature
and ability adopt by bank then it is very easily to adopt the new changes related to the technology
and banking policies, structure, system which imposed by the government. With help of this
agile delivery framework, bank can adopt the changes with respect of technology. In the opinion
of Fritz, (2013) in the present time, technology is continuous changing due to its high demand. In
every department of the organisation like marketing, finance, human resource, information
technology etc. In the banking sector, technology used in order to conduct financial transaction
for customers. Agile delivery framework in the bank related to the legacy system helps in
adopting the new changes in the technology and environment. With help of this system, bank can
able to deliver the digital system experience to the customer through which banking services can
more easily for them. This framework helps to the bank in improve the stregnth of the banking
facilities so as customer can get more effective banking services. In the E-banking, various bank
uses graphical user interface software by which customer can access their banking information
on their own mobile phones and computer. This also assist in transfers money from one account
3

to another account. In the opinion of Roberts, M. and Zahay, (2012) electronic data interchange
is another effective software in the banking sector which can used to transmit business
transaction in the computer readable form. In addition to this, this software of banking also used
to provide facilities and convenience to the customer through which they can easily make their
financial transaction at anywhere. As per the view of Czinkota and Ronkainen, (2012) in the
present digital media, bank should adopt these all software related to the banking services so as it
can effectively transform legacy system into supporting a digital system experience.
To evaluate the build and nurture an organisational culture which is Agile-minded and
focused on delivering an improved customer experience and agility have impact on the
delivery
According to the view of Silverman, (2016) agility is that important thing by which any
organisation adopt the changes according to the changing business environment and
technologies. In order to adopt the changes according to changing environment, organisation
culture and structure plays a very crucial role. Organisation culture helps to the firm in adopting
the changes because if culture and structure of firm is effective then automatically workforce
motivates to deliver effective outcome to the company. Culture helps to the firm in motiving
employees and encouraging them in respect of enhance productivity and efficiency of the
corporation. In the opinion of while corporation have effective culture then it may able to deliver
effective customer services and meet their expectation about their requirement. In the context of
banking sector, if culture and structure have managed in effective manner then it becomes easy
adopt the new changes related to the new banking technologies. In order to operate the new
changes in the technology, bank required to organise training for its employees. While firm have
effective culture then training will more beneficial for the workforce by which it will deliver
impressive customer services related to banking service.
RESEARCH METHODOLOGY
In the research study, research methodology is very important chapter by which
investigator can able to conduct investigation and find out appropriate solution of the problem. It
is a process of collecting, analysing and interpreting the information for find out the best solution
for present issue in the study. With help of this methodology, investigator can make an effective
decision by collecting information about the topic. There are various kinds of the method
4

involves in this chapter such as approach, philosophies, research techniques, data collection,
sampling etc. In the present study, researcher have main aim is to analyse the effectiveness of
Banking IT system to embrace the Agile methodologies and modern technologies to deliver
effective customer services to customer with respect of banking sector in the Singapore. Research philosophies- In the entire research methodology, this is one essential method
by which appropriate solution can find out in effectively by use of theories and concepts.
In the absence of this method, scholar can not attain the determined objective within a
appropriate time period. Major there have two kinds of techniques in the research
philosophies that are interpritivism and positivism (Silverman, 2016). While investigator
uses several theories and concept for test the study in ode to find the perfect outcome then
it is known as the interpritivism philosophy in the research methodology. While
researcher focuses on the main objective of entire investigation then it is known as the
positivism research philosophy. In the current study, researcher has used positivism
research philosophies for analyse the effectiveness of Banking IT system with respect of
banking sector in Singapore. Research Approach- Research approach is another significant aspect in the research
methodology by which appropriate solution can obtain within a specific time period. By
use of this tool, researcher can bale to understand the actual issue regarding research and
find out the effective solution of the research. This technique can be divided into two
parts that are inductive and deductive, While investigator uses inductive approach then
study may starts with research questions. If scholar uses deductive approach then study
start with hypothesis and researcher is supposed to develop hypothesis under which
theories and concept applied (Smith, 2015). In the present study, researcher has used
inductive approach for analyse the effectiveness of IT system in the embrace the Agile
methodologies and modern technologies to delivers effective customer experience in the
sector of banking. Research Design- This is refereed a significant aspect of the investigation which
supposed to address an actual issue of the investigation. Research design in the
investigation is a kind of blue print which provide an entire solution of the research issue.
There are various kinds of research design such as descriptive, exploratory, explanatory
etc. The major objective of this research design is to develop research of variables that
5

can outcome in some behaviour (Taylor, Bogdan and DeVault, 2015). In the present
study, scholar has used qualitative research techniques under the secondary data so it is
very important to select an appropriate research design because it may put the huge
impact on the entire investigation and summarised outcome. For this current
investigation, scholar has used descriptive research design that helps in conduct an
effective analysis of the investigation and conclude an appropriate solution. Research techniques- Research technique is one of the most essential tool in the research
methodology by which scholar can collect, analyse, investigate the information about the
subject. With help of this tool, data can collected by the investigator and find out the
effective outcome which will appropriate for the study. This is divided into two parts that
is qualitative and quantitative research techniques (Panneerselvam, 2014). In the
qualitative research techniques, scholar uses the information in the form of graphs, table
etc. In addition to this, this technique is applied for gain an understanding about the
motivation, opinion and reasons. It delivers a solution about the research issue and design
an effective thought or hypothesis for potential quantitative investigation. In the
references of quantitative research technique, it is applied for the quantify the issue by
use of various numerical data that can be converted into the usable statistics. In the
present study, researcher has used qualitative research techniques for analyse the
effectiveness of IT system for embrace the Agile methodologies and modern
technologies to delivers effective customer experience with respect of banking sector in
the Sigapore. With help of this research techniques, scholar has use secondary data for
analyse and assessing the information. Data collection- There are major two kinds of method in data collection that are primary
and secondary. While investigator use survey, questionnaire, interview for gather
information then it can be said that it is a primary data collection. In addition to this if
scholar uses books, journal, online articles, websites etc for collecting data then it can be
said that it is a secondary data collection (Flick, 2011). In the present study, scholar has
used secondary data collection method for analyse the effectiveness of banking IT system
to embrace the Agile methodologies and modern technologies to delivers effective
customer experience with respect of banking sector in Singapore. With help of secondary
6

data collection by which scholar uses online articles, books, journal etc for collecting the
information about the IT banking system in the banking sector in Singapore. Sampling- It is another important method in the research methodology by which data can
collected from the respondents. Sample refers to the segment of people which is chosen
from the large number of population. In order to collect information about the topic it is
very important for scholar to select some sample size so as data analysis and
interpretation can happen in effective manner. In this study, scholar has organised survay
for collecting the digital IT system in the bank so scholar selected 5 bank managers. Validity and Reliability- This is another important aspect which needed to be considered
in the entire investigation by the scholar. It is very important thing which required to be
considered by the scholar that select suitable and appropriate techniques for conduct the
thesis in an effective manner (Nakkeeran and Zodpey, 2012). In the context of validity,
there should be effective quality of research. All data which needed in the investigation
should be effective and in the high quality. The validity can also show in respect to the
validity of test. Furthermore, all data and information which collected in the investigation
by scholar should be valid, reliable and accurate according to the subject. The current
investigation about the effectiveness of IT system in the Singapore. Reliability of
information should be necessary in the investigation by which appropriate outcome can
obtain in the study. In the present study, scholar has used effective, reliable, suitable,
measurable and accurate information about the digital banking in the Singapore so as
right solution can obtain within an appropriate time.
 Ethical consideration- Ethical consideration is another important aspect in the research
investigation under which researcher have to consider on some ethics. One of the
important ethics in the investigation that scholar is not supposed to force anyone for
fulfilling the given questionnaire about the investigation subject (Flick, 2015). The data
collection should not be based on the bianess. In addition to this, the data which collect
and included in the research study must be accurate and relevant to the subject.
7

DATA ANALYSIS
Introduction
Once the research methodology has successfully conducted than next chapter is data
analysis and interpretation can comprised in the study. With assistance of this chapter, scholar
can collect and analyse the information about the subject and design an appropriate solution
about the research issue. In the present study, scholar used the secondary data collection under
which information about the digital banking can collected by the journal, books, online articles,
website etc. The present thesis have main objective is to analyse the effectiveness of the IT
banking system through which Singapore banking sector can improve its banking performance
and adopt the changes and deliver impressive customers services. In order to address this
objective, scholar uses the qualitative analysis with secondary data.
Qualitative Analysis
Thematic Techniques
Theme 1: Digital banking and its various techniques which used in the banking sector in
Singapore
In the present time, there are various kinds of new technology and system has been
developed in banking sector by which bank manager organise various banking services and
functions. In this banking, all financial transaction can made by use of technology and internet.
With help of digital banking, bank managers can easily improve its banking services and
performance (Draganska, Hartmann and Stanglein, 2014). This banking includes all kinds of the
online and internet transactions on various activities such as booking of film show online, online
shopping, booking of the tickets, internet banking services. This banking make easier the life of
customer as well as organisation. There are various tools in the banking by which it can improve
the banking services and facilities in the market. Remote banking is one of the effective tool in
the digital banking by which bank install ATMs in various areas through which customer can
easily get the services of banking and deposit money on their accounts and get the money at any
time and at anywhere (Wenming, 2013). Remote banking assists to the people in the rural area
through which customer can easily make their financial transactions. Self inquiry facility is
another important technique in the banking sector by which customer lining up and going to the
help desk. In this method, customer can use the ATM and acquire their information related to the
banking transaction, account and balance in the bank. Bank uses this technology in its banking
8

by which its customer can easily use impressive services and facility about banking (Digital
Banking. 2017). Furthermore, signature retrieval facilities is another effective digital banking
services which plays a very crucial role in the bank which assist to customer from the fraud act.
This technology plays significant role in the bank by which all financial information of the
customer can get protected so as customer can get effective banking services and does not
involve in any banking related fraud and issue. Bank in the Sigapore uses this banking
technology along with its banking facilities which verifies signature before a customer withdraws
money from their bank account. This technology assist in reducing on errors or risk in the baking
facility. In the banking sector, while there is effective agility then employees can able to use the
high quality and update technologies related to the bank. Culture of the company helps to adopt
the agility and deliver effective customer services and improve the profitability.
9
Illustration 1: Digital banking
Source: Digital Banking. 2017.

Theme 2: Change management framework and business agility to responds changing business
environment in the bank
In the every business enterprise, change plays a very crucial role by which it can impose
some new system, policies, structure, technology etc. While any organisation impose some
changes in the business system, activities and procedure then there may some kind of specific
objective (Planning and Executing Change. 2017). In a simple word it can be said that it is a
process, technique and method to mange the people through which business can attain its
required objective. In the context of banking sector, change management is directly related to
the business agility to responds the change. It means corporation must have some agility to adopt
the new changes and manage its activities and functions accordingly (Mokhtar, 2015). While
new technology and digital system comes in the market then banking sector has been changed
and affected in large manner. In the context of banking sector, it has been analysed that it has
adopted effective change management and agility framework by which it can effective adopted
the new technological and environmental change. In addition to this, with help of change
management model, cited venture can more improve sits existing banking services and adopt
new digital technology. In this change management framework, there are major three stages that
are unfreeze, change and refreeze. In the first stage of unfreeze, bank design the objective for
future change (Berman and Katona, 2013). In the case of banking sector of Singapore, it required
to adopt the digital technology in the banking services so in the first stage, it required to
understand that what is actually going to be change within the bank. In this stage, bank top
management announce to the employees and customer about the changes and organise the
training so as employees can learn to improve their working within the bank. In the second stage,
bank finally implement the new technology and make the changes in the banking services. In the
last stage, bank ensure that change becomes permanent or not (McDaniel and Gates, 2012).
Thus, from the entire analysis in this theme it has been analysed that bank can improve its agility
by use of change management framework. In the Singapore, banking sector have wide scope and
its banking condition is effective and well managed by which it can improve its customer
expectation and deliver effective services related to the banking. In the Singapore banking sector,
agility mind tool is very effective through which it meet the actual customer expectation by
adopting latest technologies related to banking.
10