Abstract
The primary objective of this research study is to improve the efficiency and responsiveness of Bank X’s product development process by integrating agile methodologies within its existing framework. The methodology involves a comprehensive review of the current Waterfall approach, evaluation of various agile methodologies, and the proposal of a suitable agile model tailored to Bank X’s unique banking environment. This study highlights the critical issues in Bank X’s current approach, including prolonged development cycles and poor alignment with changing market demands. Key findings suggested that the proposed agile model could significantly enhance product development efficiency, responsiveness to market evolution, and overall user satisfaction. The research contributes a new perspective on adapting agile practices in banking environment, particularly in the context of traditional hierarchy, regulatory compliance, and market dynamics. This thesis contributes to the banking sector by presenting a comprehensive model that addresses the unique challenges of product development in this industry. It provides a valuable framework for banks to enhance their product development processes, align with market demands, increase efficiency, and maintain regulatory compliances, particularly through the integration of agile practices within its traditional framework. This research not only benefits Bank X but also serves as a reference point for other financial institutions aiming to modernize their product development strategies in a regulated environment.