For the last 10 years, leading organizations have been successfully importing concepts and solutions from lean manufacturing into service industries such as retail, travel, healthcare, government, and financial services. Financial institutions have been at the forefront of the lean movement, with notable success stories coming from banks, insurers, credit card issuers, and asset managers.
To deliver more value to more customers more quickly, financial institutions are deploying lean to unlock substantial improvement across many dimensions at once—from productivity to quality, customer experience, and work environment. Financial services executives increasingly see lean as the best path to reinvigorate their business performance in customer-facing channels, back-office centers, and support functions.
For some institutions, the experience has been truly transformational, leading to stronger, more resilient, and more responsive operating cultures. Moreover, they have done this across sprawling networks with thousands of branches and dozens of operations centers globally.
Source: McKinsey & Company – Full report CLICK HERE