Gartner report highlights that " waterfall methods were employed on 56 per cent of development projects in 2015".

Is this a key reason many banking and insurance companies are unable to take advantage of the new analytics, BI and Fintech, Insurtech platforms that agile competitors are exploiting?

"A senior analyst at a FTSE100 insurance company (who wishes to remain anonymous) explained these “cultural” problems in terms of an organization still running mainframes and handling batch processing.

“You get these guys in their 50s, with no social skills and they’re the ones who maintain the systems. The company can’t get rid of them as the kids haven’t got the right skills,” he told me".

Combine this with the traditional silos that exist between difference business units and you can see the issues. I explored this in parallel with an article by Harry Powell at Barclays- see the blog here.

Harry does offer answers.