With increasingly demanding customers and competition from fast-growing Fintech companies, the urgency for banks to deliver highly-innovative new value propositions as well as maintain and improve existing products makes software development a strategic imperative. However, it also represents a major operational cost for banks as it is a major area of investment. It is increasingly crucial for banks to actively control software development costs and quality in order to optimize the speed to market of new digital services.
For banks to be assured that software developers are being productive and writing quality code within budget, they need to deploy a consistent, reliable metric to enable a strong and robust comparison of individuals, teams and projects. This is a complicated problem, but one that can be solved as the technology for this now exists. Monitoring the productivity of software developers enables banks to stay competitive by cost-effectively bringing new software products and software-enabled operations to market faster and improving the operational efficiency of so-called “legacy” infrastructure through digital transformation.