Banking Industry Leverages Lean Thinking Principles to Eliminate Waste in Core Processes

Operating Efficiency, Financial Services
By: Scott Mullen, Ph.D.

Today's financial industry disruption and upheaval are the most significant since the Great Depression. Drastic cost reduction measures are one way to shore up the bottom line - but that can also mean major workforce reductions and delay of strategic initiatives that could lead to new sources of revenue. Today's firms must do more with less. This paper explores how the financial services industry can leverage, and benefit from, the same Lean techniques used by manufacturing firms for years.

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Scott Mullen, Ph.D.

Principal
Scott is a former national bank executive with more than 25 year of industry banking experience. He has managed banks internationally and in the United States and has been responsible for multi-channel operations and integration at many levels within banking. Scott helps clients with channel strategies, financial service process improvements, efficiency initiatives, branch and call center strategies, customer segmentation and integration, new product designs, debit and credit card operations, reporting and statistical analysis. He holds a Ph.D. and an MBA from Our Lady of the Lake University, and a BSBA from Southern Illinois University.

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