The development of industry 4.0 has influenced the financial sector, as well as the banking industry. This issue urges banks to transform digitally by digitizing their business processes and developing a breakthrough digital product. To accelerate the delivery of a product, a banking company in Indonesia adopting agile methodologies for software development, but there is still a delay on the IT projects. The objective of this research is to identify the challenges in agile IT projects, rank them based on the most significant to the least significant challenges using Analytical Hierarchical Process (AHP) and give recommendations. There are four criteria of challenges, namely team, process, organizational, and communication. The four criteria are decomposed into eleven challenges. The biggest challenge faced by the company is from the communication category, which is the lack of customer or stakeholder commitment in an agile project by 19,55%. This research contributes to academics, practitioners, this company, and other banking companies to list the challenges in agile projects and determine what challenges should be the main focus of the organization.