FINANCIAL Industry
The Heart of the Global Economy
The Financial Services Industry stands at the very heart of the global economy. Without the Financial Services Industry other critical industries could not finance current operations, develop new products or support global customer transactions. While companies providing financial services are crucial to the success of other industries, they themselves face many challenges of their own. The onset of global growth and interconnectivity has not only impacted the customers of financial service providers, it has also increased global competition for financial services companies. As global competition increases so does cost competitiveness for products and services.
What’s The Problem?
Expanding domestic and global complexity has resulted in significant increases in domestic and international regulatory requirements. The ability of financial services firms to provide reliable and innovative solutions to customers in the face of these changing regulatory standards has become very dependent on the ability of these firms to adapt to rapidly changing technological trends. Maintaining reliable systems in the face of this rapid pace of technological change is another challenge faced by the industry.
What’s The Solution?
The Lean Six Sigma toolkit has many tools to help financial services clients as they pursue global growth goals. Tools such as process mapping, value chain analysis, identification and elimination of waste, product concept ideation and product simplification provide client companies with important techniques to define and develop optimized products and processes tailored for diverse market requirements while maintaining world class quality. Prioritization tools such as Quality Function Deployment (QFD) and Cause and Effects (C&E) Analysis are used by business leaders and product developers as they seek to deploy resources on the highest value-added opportunities for the business.
Lean Six Sigma tools allow businesses in the financial services industry to address the needs of their customers using detailed, data driven analysis and design. SBTI has successfully deployed the LSS methodology in support of financial services clients as well as customers using the products of firms in the financial services industry.
How Can We Help?
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