Britney Proctor, Director of Operations of Fenway Group, spoke to the WFE on February 13th at the Briar Club to provide an overview of the Fenway Group and talk about the role of evolving technology and how it affects the way we conduct business.
Britney discussed the various types of technology but then scaled down the conversation to the key factors affecting the Banking and Financial industries. Those key factors include AI & robotics, Advanced Data Analytics and Blockchain.
She then went on to describe how to use technology as a competitive advantage and outlined a global movement called Agile. Because software is inherent in all human situations, the Agile way of conducting business includes the software development and implementation provide advantages for those willing to embrace the change.
Because of burdens in regulatory compliance, banking and financial industries hesitate to adopt the Agile mindset because they don’t readily embrace change well and it is a major cultural shift. There has been some success though and Britney described a large success for CapitalOne.
To summarize, in the end, it’s all about the people. Adopting Agile starts at the top with the executive layer and needs user involvement, emotional intelligence and eager participants to thrive. The key is agility.