Assessing service management strategies for complex IT systems in the financial sector : monitoring, automation, and modernization in business environments

Abstract

This thesis explores which service management strategies are best adapted to meet the demands of complex Information Technology (IT) systems within the financial sector. It focuses on identifying practical approaches to effectively manage complexity drivers and aims to understand how financial institutions adapt their service management practices to increasing IT complexity. A twofold methodology was employed: a literature review that establishes the theoretical foundation, and semi-structured interviews with senior professionals from various financial institutions. The findings reveal that traditional service management strategies prove to not effectively manage complex IT systems. Emerging strategies include selective automation, context-aware Key Performance Indicator (KPI) design with clear ownership, feedback-driven service enhancement, and adaptive monitoring practices. Furthermore, continuous monitoring and the use of operational data to improve the service delivery were identified as critical success factors. The changing system states necessitate proactive adaptation. These results imply that service management in complex systems calls for a system design that is context-aware and embraces unpredictability. The insights contribute to bridging complexity theory and IT Service Management (ITSM), offering insights for the academic discourse and providing practical guidance for practitioners.