Unlocking Value in Financial Services
The Financial Services industry has, in many ways, been at the forefront of the world economy. However, as many of the barriers that once defined service segments and geographies recede, a new world is open; a world offering the potential for unprecedented growth, and never before seen challenges.
- New technology-driven market access has put an end to traditional means of conducting business across Insurance, Banking, and Credit Operations.
- Millenials, Generation Y and Z are your new, and future customers.
- This younger, more connected generation likely will have a stronger relationship with their mobile provider than with a financial services provider.
Compete With A Lean Financial Services Enterprise
How does a financial services enterprise differentiate itself and compete in this new competitive landscape? All while retaining the traditional governance and strategic judgment that have underpinned its success? Lean Horizons offers a way.
- Lean is about sustaining value creation focused strategically upon the customer.
- Lean principles are about removing waste and variability from business processes.
- Lean tools make the wastes visible, and enable ongoing removal by your own people.
- Your competitive advantage lies in an organizational culture that pursues perfect, waste-free customer focused service. Allowing you to embrace quality, liberate capacity, and drive service to unprecedented levels.
Lean Financial Services Offerings
We have partnered with some of the world’s leading Financial Services providers to deliver the benefits of Lean to their enterprises. We’re not about the clumsy force-fit application of factory Lean to the administrative environment nor are we proponents of kaizen-in-a-box. Drawing upon the extensive, business leadership experience of our team, we deliver principle-driven enterprise transformation.
- Your team member’s sights will be expanded and able to think differently about how the value of service is achieved.
- They will be able to advance the activities and interactions that add value, while reducing the ones that do not.
- Through Lean education and tools, your team will discover and correct problems before they impact your ability to serve.
- Simplified, reliable, processes spanning your total value stream will expand your capabilities and the competitive agility of your business.
By applying Lean broadly, you improve effectiveness throughout the value stream and develop integrated solutions that answer not only the operational, but the strategic and organizational challenges, as well.
Your success is not just about the tools of Lean and Six Sigma. It’s also about sustaining a culture that is defined by leadership. Our people have experienced the successes and the mistakes, which will bring a benefit your business. We work with your teams to avoid the pitfalls and dead ends, to overcome the frustrations of change and build a confident culture committed to continuous improvement supported by sustained results. In doing so, we reduce time to value on your Lean investment. We look forward to partnering with you on your journey.
Summary of Financial Services results
The following table provides representative results from Lean client collaborations.
- Improvement (%)
- Processing (Cycle) Time
- 60 to 300
- Customer-Experienced Lead Time
- 40 to 90 reduction
- Same-Day Turnaround of Offers
- 50 to 200
- Employee Productivity
- 50 to 300
- Internal Quality PPM
- 50 to 95
- External Quality PPM
- 50 to 200
- Customer Satisfaction
- 50 to 75
- Cost per Unit
- 20 to 60
- Operational Expenses
- 20 to 45