Capital One Delivers 85% Of Software Through Agile - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
IT Leadership // CIO Insights & Innovation
News
4/1/2014
09:45 AM
Connect Directly
Facebook
LinkedIn
Twitter
RSS
E-Mail
50%
50%

Capital One Delivers 85% Of Software Through Agile

Agile software development methods have reduced delivery times to three to six months while cutting costs significantly.

Interop 2014: 8 Hot Technologies
Interop 2014: 8 Hot Technologies
(Click image for larger view and slideshow.)

In its efforts to transform the customer experience from a traditional banking transaction to one that is more like a consumer's interaction with Amazon or Apple, Capital One is relying on agile technology development to change the way it deploys new applications and services.

However, when Capital One bought ING Direct back in 2012, the two financial organizations had almost completely opposite IT strategies. Capital One, which at the time was primarily a card company with a small but growing banking operation, relied on an outsourcing strategy for most of its systems that were considered commodity systems or technology. ING Direct, however, had a technology strategy where most of its technology was run in house.

"At ING Direct, we didn't really outsource," said Rudy Wolfs, senior VP of card IT at Capital One, during his presentation at the InformationWeek Conference, colocated this year with UBM Tech’s Interop Las Vegas. Wolfs was one of the founding executives at ING Direct. "When ING Direct joined Capital One, we did things differently. There are things that are truly commodities, but there are also things that need to be in house for competitive advantage," Wolfs told the audience.

Although finding a balance between in-house development and commodity technology was challenging, the bigger change for the newly combined IT team was to adopt an agile development methodology for all technology projects, Wolfs reported. When Capital One started to roll out agile development in 2011, Wolfs said it amounted to just 1% of software that was delivered. Today, 85% of software is delivered by the agile method. With agile, Capital One now also releases approximately 400 products a month, has cut delivery times to three to six months while "cutting costs significantly," and finds 95% of products meet expectations on the first release, according to Wolfs.

Read the rest of this story on Bank Systems and Technology.

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
News
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Commentary
Where Cloud Spending Might Grow in 2021 and Post-Pandemic
Joao-Pierre S. Ruth, Senior Writer,  11/19/2020
Slideshows
The Ever-Expanding List of C-Level Technology Positions
Cynthia Harvey, Freelance Journalist, InformationWeek,  11/10/2020
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
Slideshows
Flash Poll