Financial examples

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

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

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!
 

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.