@Paull,
Areas on loan processing that apply six sigma and lean are
1. End-to-end Turn Around time improvement of the loan from submission to disbursement to applicant
Use of Process Mapping or Value Stream Map and process streamlining would be useful.
Look for opportunities for customization of processes , based on customers segments.
At high level the process look like this
Submission -> Documents review-> Credit assessment –> Approval process –> Disbursement
Reducing lead time of end-to-end loan processing means customers are disbursed faster, and results in faster payback by customer (installments starts a few days earlier or a few months earlier).
Dollar and cents wise – especially when volume (applicants) is high, faster lead time could mean opportunity to gain more interest income by the company.
2. Standardization of governance process at approval phase. Approval is delayed typically due to multiple approval requirements. Consider operational risks when simplyfying process at approval
3. Streamlining documents requirements. Customers tend to get confused of documents requirements
I am not sure if your scope also involved loan products developments. There could be opportunities for six sigma there.
Good luck
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