Agile Development Process

Agile
This methodology is for a project that needs extreme flexibility in requirements. Agile main features are short-term cycles (which called sprints), agile requirements, collaboration between self-organizing, real time communication, cross-functional and dynamic work of teams.
There are many specific agile development methods: iterative, incremental, evolutionary.
Here, the main idea is to split big task into small steps with minimal planning. There is a “sprint” in Agile, which meant by itself short period of time during which the team has only 1 specific goal. There are few iterations in one sprint. Each iteration has specific and short time frame (time boxes). Normally it can take from 1 week to 4 weeks. Multiple iterations could

There is a lot of fans and opponents of Agile, as much as benefits and weaknesses in Agile methodology by itself. As Philippe Kruchten wrote:
“The agile movement is in some ways a bit like a teenager: very self-conscious, checking constantly its appearance in a mirror, accepting few criticisms, only interested in being with its peers, rejecting en bloc all wisdom from the past, just because it is from the past, adopting fads and new jargon, at times cocky and arrogant. But I have no doubts that it will mature further, become more open to the outside world, more reflective, and also therefore more effective.” (Kruchten, 2011)
Agile methodology was created for development of software. Let us consider how useful Agile could be for banking area.
“Agile banking” is a new technology buzzwords, which is becoming more and more popular. JP Morgan Chase reviewed its business processes and changed to use “agile development

He wrote: “Banks face three key challenges to become an agile bank: existing application complexity, changing customer behavior, and increasing amounts of data. To address these challenges and better serve customers, banks need to create a strategy to improve their core banking systems.” On his point of view, modern banking should become more agile in the marketplace. Customers like to have high quality and fast responses, and the first principle of Agile Manifesto is: “Our highest priority is to satisfy the customer through early and continuous delivery of valuable software.” (Beck,