CASE STUDIES

Our mission is to help our partners push beyond average performance. As process architects within the financial sector, we are continually exposed to the "pain" that executives - and by consequence - their customers feel.

Below are examples of common challenges and how they were overcome by leveraging our proprietary Financial Services Six Sigma platform. The applicability of this powerful tool is unlimited - from optimizing teller productivity within the retail division to streamlining loan operations in the back office. Gathering and analyzing the "right" data will always guide us to the desired solution.

• Reduce Radiology Backlog
• Increase Funding Volume
• Improve Customer Retention (Servicing)
• Collection of "Voice of Customer" (Borrower & Broker)
• Standardization of Apprasial Process
• Retail Product Simplification
• Centralization of Loan Operations
• Improving Teller Productivity

PUBLICATIONS

Operational Efficiency:
Process Improvement Opportunities for Credit Unions

In 2009, Filene hosted a series of roundtable discussions for credit unions with McKinsey & Company consultants around the country. One of the key takeaways from those meetings came in a comparison
between the efficiency ratios [noninterest expense / (net interest income + noninterest income)] of credit unions and banks with between $500 million and $17 billion in assets.

Simplify and Unleash:
One Bank’s Strategy for Growth Through Six Sigma

In 2007, the CEO of a large national retail bank shrewdly detected trends that led him to believe the recent growth in the mortgage industry was unsustainable. The CEO realized the importance of strategically focusing on the retail division to make it lean and subsequently better position his organization to weather the coming storm in the mortgage industry.

Fitting a Square Peg in a Round Hole
Why Manufacturing Six Sigma Will NOT Work in a Transaction-Based Financial Services Environment

In the late 1970s, most companies that signed on to Quality initiatives did so with their backs up against a wall. The leading U.S. based manufacturers were losing market share...

Improved Response Time
Increases Revenue for Global Lender

One global lender, in partnership with ProcessArc, a consulting firm specializing in Six Sigma for financial services, discovered that it was losing 40% of its applications at various process stages. Six Sigma helped reveal that slow response time was the key driver for the loss...

Six Sigma for Financial Transactions
Operational Cost Reduction in the Millions -- Back-Office Transactions

The financial services industry is faced with growing pressures. Differentiation is eroding as industry products and services become more of a commodity. Financial and regulatory constraints are growing...

Six Sigma for Financial Transactions
$4.5MM Operational Risk Reduction -- Wire Transfers

A medium size bank in the midst of a rapid growth cycle had one central concern: the scalability of their business processes. Management wanted to ensure that the bank possessed the required...