Our customer experience is proven through our track record and long term clients
Our mission is to help our partners push beyond average performance. As process architects we are continually exposed to the “pain” that executives – and by consequence – their customers feel.
Even organizations that have had success for decades using tried-and-true processes are being forced to re-evaluate—and in some cases completely overhaul—their processes and systems to meet the demands of a new market that relies heavily on digital transactions.
Sometimes the answers to your most critical challenges are right at your fingertips. The key to solving those challenges lies in asking the right questions and then utilizing already-existing data to formulate solutions. ProcessArc, a consulting firm specializing in client experience and business transformation, assisted a client who believed they had an Issue with customer retention.
A fund services organization invested in extensive technology upgrades to boost efficiency and process control with the overarching goals of improving quality and client experience. After the technology updates were fully implemented, metrics showed the organization was achieving timeliness and accuracy goals more than 99 percent of the time, but two key questions remained unanswered, “Are we effective at what we are doing,” e.g., What was the cost to the business in attaining 99-percent accuracy and timeliness? and “Do we know our operational risk points?”
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.
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 Through Lean 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…
One global lender, in partnership with ProcessArc, a consulting firm specializing in Lean 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…
Lean 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…
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…