We use a value-stream approach to identify and implement solutions that help banks exceed customer expectations and drive better performance.
Banks rely on many processes to deliver products and services to customers. But only 10 percent of total lead time adds value. This means the other 90 percent of time is wasted on non-value-added activities. Is your institution experiencing:
- Rising costs?
- Frequent agent/case rework?
- Long resolution time frames?
- High customer call-back rates or low first-point-of-contact resolution rates?
- An increase in customer complaints?
Speed counts, and “Lean” is the key
In order to remain competitive, banks must continue to find ways to deliver better and faster service at a lower cost. In this environment, time can be the most powerful competitive advantage. Build an organization that responds quickly to serve customers and preempt competitors, and your bank will grow profitability.
Lean continuous improvement is a comprehensive strategy and approach for improving business performance by focusing on the reduction of end-to-end lead time. In simple terms, it maximizes customer value by eliminating common forms of waste that cost banks valuable time and money—including redundant processing, unnecessary approvals, multiple hand-offs, chasing down information, re-work, queue times and more.
Every organization has waste—the key is to find and eliminate it
We pair Lean principles with industry expertise to help you achieve service, quality and financial goals. Our approach emphasizes rapid identification of opportunities to improve performance, allowing you to begin testing changes within weeks. Our experienced team works with you to:
- Assess current environment using data analytics, customer feedback and process observation.
- Develop a future state vision to achieve measurable impact on efficiency, customer satisfaction and financial performance.
- Design and pilot countermeasures to close gaps, remove operational waste and empirically prove expected improvements.
- Implement sustainable solutions for delivering customer, operational and financial benefits
Our consultants have extensive banking industry experience and understand the challenges of your regulatory environment, your legacy IT systems, and your unique processes and operations—experience that enables us to help you eliminate waste in order to:
- Remove unnecessary complexity
- Increase customer and employee satisfaction
- Consume resources more efficiently
- Enable agility, growth and advantage
That’s business in the right direction.