International Retail and Corporate Bank : Lean Sigma Deployment

A multi billion pound financial banking institution, with international and multiple high street brands needed to improve its processes across all areas and departments of an international bank which was providing retail, corporate and investment banking services. The ever increasing pressure from customers who demand a faster better and cheaper service in an ever evolving industry was applying pressure to the bank to increase its capacity, reduce its operating costs and improve its customer service. The bank undertook the decision to introduce a Lean Sigma culture to reduce costs and increase Customer satisfaction. Also the banks aims were to reduce lead times and increase capacity to do more with the same amount of FTE's.

Improvement Strategy

Using a Lean Sigma business improvement approach helped the bank to identify critical areas to focus on and to:

• Maximize process efficiency
• Reduce transaction time
• Improve service levels
• Meet industry KPI’s
• Identify customer needs and maximise service levels
• Increase standardisation and meet FSA standards

The bank also developed a whole organisation Lean Sigma deployment strategy this consisted of developing expertise in the following areas:

• Senior Management engagement and workshops
• Development of internal expertise with the training and mentorship of over 100 Black Belts over a 5 year period
• Training of over 800 Lean Sigma Green Belts and Lean Business facilitators across all areas of the Bank including retail, back office and business and project development areas

Results

• Over a 5 year period the bank has created a sustainable internal capability to continually improve and realise long term benefits from a Lean Sigma culture
• Black Belt project savings of over £5million in years 1 & 2
• Business process development teams realised savings of £6million cost avoidance savings from designing processes with Lean Thinking