Banking: Process Improvement

Our client is a Global Retail and Corporate Bank with an Insurance Division, located in the UK with multiple offices up and down the country, employing 175,000 employees worldwide.

As a Group they provide retail banking services, mortgages, loans, credit cards, insurance, savings investments and corporate banking.

Due to the enormity of the organisation and growth being built on a number of legacy companies, merging those companies together had left the organisation with disjointed systems and processes, with large amounts of work having to be reworked due to failure of the systems and procedures in place.

£2m

Estimated savings of over £2m could be achieved within 18mths of this deployment.

£400,000

Within the first 6 months of the Lean deployment savings of over £400,000 have been realised.

12%

Due to the reduction in process design time the GBI department estimate that within a 12 month period they can increase capacity by 12%.

Banking: Process Improvement

Results

The procedure of designing new processes was taking up to 374 hours, to scope and agree project documentation before work on a project commenced. After using Lean tools and methodology time taken for the same process was reduced to 35hrs with a labour cost saving of over £200,000 per annum.

Positive results empowered and encouraged the teams to look for and implement further improvement strategies.

Lean activity reduced the amount of waste where possible within processes without jeopardising the compliance to FSA regulations.

Clear and defined policy deployment was implemented and embraced by all staff.

Banking: Process Improvement

Observations

- Objectives to remove waste from systems and processes
- Improve cycle times
- To be best in class
- Create a Lean Sigma Continuous Improvement culture
- Create a clear policy deployment
- Empowerment within teams

Banking: Process Improvement

Objectives

Banking: Process Improvement

Actions

GROUP BUSINESS IMPROVEMENT DEPARTEMENT

GB Improvement is responsible for the design and deployment of over 85% of the banks new processes and therefore developing a Lean culture within this department (approx 600 people) was imperative. New processes were to be designed with a “Lean thinking” approach therefore changing the culture of the way banking process are designed for the future, waste needed to be identified and removed before processes were launched into the business
Hands on deployment and training of Lean Business Champions was initiated, over 100 Staff were trained and mentored on active Lean Projects

GROUP RISK

Due to FSA stipulations and issues with fraud within banking the addition of extra checking and compliance governance is critical. However this extra vigilance causes additional checking of documents and records, delays, additional inventory (extra forms) and over processing within the bank. In order to identify and remove the waste within banking processes Group Risk conducted Lean activities on a number of key processes. During these activities 50 employees were trained to Lean Business Champion levels and actively worked on projects mentored by a Lean coach