iSixSigma

Financial examples

Six Sigma – iSixSigma Forums Old Forums Finance Financial examples

Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • #24479

    Aguilar
    Member

    Hey, Does anyone know where I can get a good example of the use of Six Sigma in banks? I am trying to sell the methodology to management and could really use a real world example to get them on board.
    Thanks!
     

    0
    #58728

    J Castagna
    Participant

    Hi Victor
     
    Do you know if any of your competitor banks are using 6 Sigma?
     
    It may help, if you use a relevant real world example in your attempt to change your management’s perceptions about the methodology. It may not win them over straight away but it’s a first step.
     
    As an example you may want to try searching those bank websites to see what documents/presentations they have online.
     
    To illustrate with some Australian examples, local banks that have adopted the methodology are NAB, Westpac, CBA and Suncorp Metway. CBA and Suncorp’s websites sites contain corporate /analyst presentations with that refer to 6 sigma use in their companies.
     
    Suncorp’s is particularly good (Thank’s Aust_BB!) as the bank came 2nd last year in a global survey performed by investment consultants, Mercers. There are a few examples of 6 sigma achievements in the strategy briefing dated June 05.    
     
    To re-emphasise, it would be best using your local competitors (you didn’t say where you were from) as this may have more resonance with your management.
     
    Cheers
    Justin
     
    Suncorp.com.au

    0
    #58729

    Aguilar
    Member

    Thanks!, I am from Panama, Central America.
    I’ll see what I can find.
     
     

    0
    #58731

    rupal
    Member

    Dear Justin,
    Besides Australian firms, would you know of Six Sigma projects specific to financial services in New York? 
    Thank you

    0
    #58732

    J Castagna
    Participant

    Hi Rupal
    No…(never been to the the US or NY)
    As New York is one one of the top financial centers of the world with a plethora of local & global banks it shouldn’t be too hard to find one.
    Try searching the this site as a first step.
    cheers
    Justin 

    0
    #58733

    rush
    Member

    Here are banks intending (or using) to use Six Sigma in US –
    1. Bank of America
    2. American Express
    3. JP Morgan Chase
    These are some of the ones I have heard have structured six sigma programs, others might have smaller six sigma pockets!
     

    0
    #58734

    bb_banking
    Participant

    See website below.  These are companies that have acknowledged through annual reports or other channels that they are practicing 6.  Though we’ll have our lovers and haters of the program based on their experience as a consultant, employee or former employee of these companies. 
    http://www.sixsigmacompanies.com/index.asp?ci=8&s=category
    BB Banking

    0
    #58737

    Stephens
    Participant

    Most major U.S. banks have invested in and using process improvement methods. Some call it 6 Sigma, while others use a bit more of a ‘stealth 6 Sigma’ approach. The internal underpinning rationale is pretty clear…improve operational efficiency. The external underpinning is just as clear…improve custoemr satisfaction so as to be a differentiator in a commoditized sector such as banking.
    Bank’s core processes, at a minimum, are usually not efficient (based on what the customer feels and sees). Plenty of opportunity to use 6 Sigma to improve them.

    0
Viewing 8 posts - 1 through 8 (of 8 total)

The forum ‘Finance’ is closed to new topics and replies.