Blucorp is now available worldwide. Create Your Account today.
The goal of lean for financial institutes is to improve service delivery, reduce costs, and enhance customer satisfaction by providing a higher quality service on time and within budget.
Loan Application Time Reduced
Account Opening Time Reduced
ATM Machine Downtime Reduction
Total Transaction Steps Reduced
Innovative Services/Products Increase
How Lean Financial Institutes helps business and organisation improve their productivities
During one of our projects, a financial service (Investment Bank) faced extremely long transactional processes and lengthy time for customer transactions.
Our solution for the financial services investment bank involved using LEAN for financial institutes diagnostics and process improvement methodology. This enabled us to streamline the lengthy transactional processes, resulting in shorter transaction times for customers and an increase in overall efficiency.
Our intervention resulted in reducing the transactional process by more than 350 steps, thereby cutting the time to less than one third.
One of our large multinational bank clients is facing several challenges such as slow loan application approvals, high customer complaints regarding ATM services, lack of employee involvement in improvement and innovation, and a highly stressful work environment.
To address these challenges, we engaged in several coaching sessions focused on Lean Innovation and Design Thinking as well as LEAN people engagement.
The outcomes of our coaching engagements were significant. We were able to reduce application processing time by 70%, and new innovative processes implemented in the ATM service reduced complaints by 80%. Additionally, the bank staff successfully embarked on and implemented 10 innovation initiatives within just 6 months.