Manish Pharasi

Retail Banking is one area that is of primary importance to most public sector and private banks. With customers getting very particular about the quality of banking services, most banks have increasingly adopted Lean Six Sigma tools & techniques to deliver value to their customers. There have been large number of benefits that have been achieved in Retail Banking by way of Lean Six Sigma Projects. Some of the projects that have yielded benefits are: Reduction in cycle time to process loan applications Reduction in time to issue a credit card Reducing waiting time at a bank branch Improvement in ATM services (availability, accessibility) Improving Branch Banking experience of customers Eliminating delays & errors in money transfer Eliminating errors in bank statements, credit card statements There are many more applications that Lean Six Sigma has in Retail Banking. Lets use this forum to share and discuss those applications. We can also discuss the roadblocks, challenges that one faces in process improvement in Retail Banking and can get ideas from everyone on how to overcome those.