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Lean Transformation: From Errors to Efficiencies

An assessment of a bank’s performance revealed significant efficiency gaps: complex, error-prone processes with a high degree of manual work; low performance on benchmarks; and no end-to-end process ownership.

The bank, working together with BCG, is using lean methods to redesign more than 100 business processes across the institution. The project is generating significant improvements in customer processes and cost savings. In addition, much of the bank’s staff is being trained in lean methods, giving the company a boost in internal capacity to address process problems and inefficiencies.

Drivers of Leaner, Less-Complex Information Technology

Information technology is a major cost center for financial institutions. But IT also can be a source of strategic advantage. In these six areas, companies can often eliminate business and technological complexity that fails to add value, saving time and money along the way.

  1. Intelligent demand management to improve interactions between IT and business
  2. Scenario-based application rationalization to reduce the effort required to adapt to and maintain changing requirements
  3. Pattern-based infrastructure simplification to boost scalability and reduce IT costs
  4. Simplified organization and enabled workforce to increase decision-making speed and reduce bottlenecks and quality gaps
  5. Effective governance and simplified processes to become more agile in application development
  6. Optimized location and sourcing setup to increase resource flexibility and utilization, as well as the quality of supplier collaboration
Financial Institutions
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