Lean Six Sigma in Financial Services

 

Mr. James Reiff has more than 10 years of experience in running microfinance institution, opportunity international, which is a provider of microfinance around the world.

He says there are many opportunities to implement the fundamentals of Lean Six Sigma framework in microfinance, financial services sector, as well as in any industry which serves the underserved and underprivileged. He feels that the implementation of lean six sigma framework would certainly help in decreasing waste and performance improvement process. James thinks that these initiatives would surely increase on the motivation of the staff & would bring in the buy in from the staff, thereby making them aware of the performance improvement process in such a way that they can become effective managers. He gauges the impact of this on all the levels of management. As for the client perspective, through implementing six sigma and lean, one can reduce errors and bring in consistency throughout the operative branches of any microfinance institution. He feels overall implementation of Lean Six Sigma framework , would surely result in increasing customer satisfaction, motivation as well as staff satisfaction. He strongly recommends Benchmark Six Sigma. He feels when the organization works on the fundamentals of Lean Six Sigma framework, the performance improvement process become not just another part of work, it can become philosophy, significant strategic thinking tool to serve any business.