The Vatican Bank, or Istituto per le Opere di Religione (IOR), transformed its application development and delivery organization over a three-year period to become: 1) agile — to respond to high-pressure business demands; 2) flexible — to quickly integrate new business functions; 3) customer-focused — to improve the experiences of its customer base; and 4) less dependent on brittle, siloed, legacy applications. How? It used the right mix of technology and process choices to enable business and IT change while continuously meeting customers' service-level agreements (SLAs). Over the next three years, IOR plans to complete its technology and application modernization and strengthen its IT governance.