Abstract
Organizations adapt existing business processes in order to become competitive but a change in a process affects other processes as well. In order to support the required change suitable technologies must be provided so that business could run smoothly and efficiently. Since in a dynamic business environment requirements are changed frequently it is difficult to update underlying technologies to support changes in business processes. This creates a gap between business and information technology (IT) that directly affects whole business. In this study requirements for a dynamic business and a co-evolution model are presented that may bring both the entities closer to bridging the gap in a dynamic business organization. The co-evolution model has been used in a financial institution and feasibility and viability of the model has been observed.