West Monroe Partners, a North American business and technology consulting firm, today launched FUSION for Banking, a new suite of workforce optimization solutions designed exclusively to help banking organizations enhance the customer experience and uncover new opportunities for growth. FUSION for Banking is a set of services that helps banks establish new scheduling strategies, gain intelligence into existing operations, evaluate improvement opportunities and implement solutions that optimize their workforce and operations. It follows the same fundamental FUSION framework that West Monroe Partners has implemented with retailers and distribution centers across North America to help them achieve an average of 25% improvement in productivity.
“As the economy continues to pressure banks to do more with less, our clients have been looking for ways to reduce operating costs without sacrificing the customer experience,” says Tom Bolger, managing director of the Banking practice at West Monroe Partners. “FUSION for Banking gives our clients a sound methodology for applying process improvements that will impact their bottom line while also building brand and customer loyalty,” continues Bolger.
FUSION’s first phase focuses on developing the appropriate strategy based on process flow, volume, staffing levels and configuration of a specific banking operation. The intelligence phase couples forecasted traffic patterns with productivity targets to deliver consistent service in the most cost effective way. The final phase, optimization, applies concepts from both Lean and Six Sigma to implement repeatable processes and the ideal staffing model given customer demands.
“Surmounting regulations are forcing banks to implement even stricter process, data and reporting controls,” says Neil Hartman, senior manager of Banking Solutions at West Monroe Partners. “FUSION was developed with data analytics at the very foundation – allowing banks to identify opportunities in their current structure and implement meaningful changes to enhance service levels and drive productivity,” adds Hartman.
FUSION’s data analytics are further enhanced by FLEXwfm™, a proprietary workforce management tool that is custom configured with a client’s process, productivity targets and volume arrival patterns to help banks effectively manage workflow, meet increasing customer demands, decrease costly overtime wages and improve budgeting and forecasting.
The West Monroe Partners team has more than 25 years of experience implementing workforce optimization solutions for companies of varying industries with over 500 implementations completed across North America.
About West Monroe Partners
West Monroe Partners is a North American, full-service business and technology consulting firm focused on guiding organizations through projects that fundamentally transform their business. With the experience to create the most ambitious visions as well as the skills to implement the smallest details of our client’s most critical projects, West Monroe Partners is a proven provider of growth and efficiency to large enterprises, as well as more nimble middle-market organizations. Our more than 300 consulting professionals drive better business results by harnessing our collective experience across a range of industries, serving clients out of offices across the US and Canada.