Financial Services

Credit Unions, Process Improvement, and Lean Six Sigma

Over 86,000 credit unions operate in 118 countries worldwide.* We’ll examine Lean and Six Sigma in credit unions and finish with a video explaining what a credit union is and how it compares to traditional banks. *Source   Process Improvement in Credit Unions In a report titled “Operational Efficiency: Process Improvement Opportunities for Credit Unions,” [...]

Improving Accounts Receivable with Lean Six Sigma

Every business has accounts receivable which govern when they will be paid for their products and services. We’ll look at how Lean and Six Sigma can improve accounts receivable through several applications. Then we’ll finish with videos on Accounts Receivable KPIs and How to Improve Accounts Receivable Collections.   Lean Six Sigma Applied to Fee [...]

The World of Financial Services – Roles for Lean and Six Sigma

Lean and Six Sigma got their start in manufacturing, but they have been applied successfully in service industries for decades. We’ll focus on applications in the financial services industry. We’ll look at the results, benefits, difficulties, and lessons learned in two applications and see recommendations of how Lean can help financial services organizations in their [...]

2023-05-13T12:17:30-06:00By |0 Comments

Lean Six Sigma in the Insurance Industry

The insurance industry is an excellent example of non-manufacturing where Lean and Six Sigma are applied for process improvement and waste reduction. We’ll look at four case studies from Germany, India, Northern Ireland, and Brazil.   Lean and Six Sigma Applied to a Large Insurance Company: Germany   In a paper titled “A Lean Six [...]

Six Sigma Financial Jobs in Demand

There is no doubt that many top financial institutions have embraced some form of Lean Six Sigma. As an exercise we went to in order to get a snapshot of what the demand for jobs might be.  Accordingly, we looked at job notices on Indeed for six top financial institutions. J.P. Morgan Goldman Sachs [...]

The Value of Six Sigma in Bank Loan Processing

Six Sigma methodology has transformed many industries, helping them achieve new heights. The methodology can help a business continuously strive for excellence in all its endeavors and processes. It does so by providing the tools to identify bottlenecks and the ways to remove those for maximal efficiency. The methodology improves quality and minimizes the variability [...]

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