IT Leaders Don’t Understand Dev Team Needs
Digital transformation has been at the top of the agenda for financial services providers over the past few years as customers increasingly demand better experiences from their banks or insurers. However, the latest Couchbase research showed that development teams faced several challenges when transforming.
Couchbase interviewed 650 senior IT decision-makers in the finance industry and found that while development teams are working hard on digital transformation projects, a lack of resources and communication with IT leaders was holding them back.
With 83% of IT leaders confirming they face difficulties, the most common issues include doing too much in too little time (54%), hitting deadlines and meeting agility requirements (30%). 77% of IT decision-makers also expressed obstacles in supporting their development teams.
Specifically, decision-makers need help to make sure that their development teams have the right technology (33%), are redeployed rapidly when needed in new projects (29%), and invest in technology that helps ease the workload for their developers (29%).
The problem is that 30% of IT decision-makers were unsure whether their development teams were running behind or ahead of schedule. In addition, the survey noted that 22% could not measure whether their teams were engaged or happy with their work.
“Amid the race to complete digital transformation projects in the sector, where developers must balance the security of sensitive customer data alongside expectations for remote access and seamless digital experiences, these barriers impacting developers jeopardize businesses’ progress,” said Perry Krug, director for shared services at Couchbase.
“Firms need to recognize their reliance on developers at this time and work to give them the right resources and support. After all, without successful digitization projects, financial services firms will fall behind the competition," he added.
Despite these growing concerns, leaders expressed that the pandemic has been a positive learning experience in one key area — empowering development teams. For example, 35% of respondents believed that the pandemic taught them how to empower their development teams more effectively, suggesting that IT leaders were starting to understand developers’ challenges.
“Digital ambition will fall flat for financial services providers unless they can support development teams to build great applications,” said Krug. “And in the fast-paced financial services market, firms must be proactive in addressing these challenges to ensure success in a time of product-led growth.”
Well-supported teams can make a huge impact, as 29% of respondents reported that developer pressure to support agile practices was a driver for digital transformation projects.
By giving developers the right tools to succeed, financial services providers can make sure their digital dreams become a reality. Doing so will ultimately create a better customer experience — something that the report suggested should always be a top priority.
Image credit: iStockphoto/demaerre
