Towards Improving Banking Services Quality - 23 - Lean Banking and Quality Management

Towards Improving Banking Services Quality 

23.

Lean Banking and Quality Management

 

Lean banking and quality management are both approaches that can improve banks' processes and ultimately their services, but they differ in their focus and methodology.

 

Lean banking focuses on eliminating waste and improving efficiency by reducing the time spent on non-value-added tasks. Lean management originated from the Toyota Production System, developed after World War II. Lean banking can lead to operational improvements and increased customer satisfaction.

 

Quality management focuses on continual improvement and customer satisfaction by instilling a quality consciousness throughout the organization. It involves a commitment from all levels of the organization to improve processes, products, services, and culture.

 

Lean banking relies on value-added activities, structured problem-solving, and eliminating non-value-added activities, while quality management adopts a standardized approach. Banks can find success by combining and implementing elements of both Lean banking and quality management.

 

The key difference between these two is that Lean methodologies focus on the value stream and process efficiency, while quality management focuses on consistency and compliance.

Lean banking and quality management share common goals of customer satisfaction, continual improvement, and streamlining processes.

 

Lean banking implements Lean management principles, which are built upon two core pillars and five foundational principles. The two pillars of Lean management are continuous improvement and respect for people. The five foundational principles of Lean management are:

 

1.       Identifying value,

 

2.       Mapping the value stream,

 

3.       Creating flow,

 

4.       Pull, and

 

5.       Seeking perfection.

 

ISO 9001:2015 Quality Management System is built upon seven quality management principles:

 

1.       Customer focus,

 

2.       Leadership,

 

3.       Engagement of people,

 

4.       Process approach,

 

5.       Improvement,

 

6.       Evidence-based decision-making, and

 

7.       Relationship management.

 

The Plan-Do-Check-Act (PDCA) cycle is applied to all processes and the quality management system to achieve enhanced customer satisfaction.

 

This series of articles discuss in detail Lean management pillars, foundational principles, and Lean tools that can be applied to Lean banking. All these Lean tools can support the quality management objective of enhancing customer satisfaction. Risk-based thinking, as stipulated in the ISO 9001:2015 QMS standard, provides ways to address risks and opportunities to prevent or reduce undesired effects (non-value-added activities) and achieve improvement.

 

Lean banking and quality management both aim to enhance customer satisfaction, streamline processes, and foster continual improvement. While Lean banking focuses on efficiency through the elimination of waste and maximizing value-added activities, quality management ensures consistency, compliance, and a culture of excellence. For instance, a bank might use Lean tools like Value Stream Mapping to optimize loan processing workflows while adhering to ISO 9001:2015 principles to maintain compliance and improve customer trust. Together, these methodologies create a robust framework that supports both operational excellence and strategic growth.

 

Lean banking and quality management systems are both valuable for improving a bank's functioning. Both complement each other. Banks should consider adopting and implementing both Lean banking and ISO 9001:2015 QMS to stay competitive. 

I welcome your comments, questions and suggestions.

Warm regards,

Keshav Ram Singhal 

Towards Improving Banking Services Quality - 22 - Other Lean Tools for Lean Banking

Towards Improving Banking Services Quality

22.

Other Lean Tools for Lean Banking

 

Introduction

 

Lean tools are instrumental in driving operational excellence and efficiency across industries, including the banking sector. In an era of digital transformation, these tools also align with technological advancements, enabling banks to remain agile and innovative. By implementing these tools, banks can reduce waste, improve processes, and enhance customer satisfaction. The tools discussed in this chapter—Poka-Yoke, SMED, Kanban, TPM, JIT, Kaizen, Gemba, and Standard Work—serve as powerful enablers for creating a streamlined and customer-focused banking environment. Each of these tools, while rooted in manufacturing, finds valuable applications in the context of Lean Banking, fostering innovation and agility. For more information and detailed study, readers are encouraged to refer to relevant publications and sources.

 

Poka-Yoke

 

Poka-Yoke is a Japanese term that means ‘mistake-proofing’. It also means ‘inadvertent error prevention’. It is a mechanism in a process that helps an operator avoid mistakes and defects by preventing, correcting, or drawing attention to human errors as they occur.

 

Poka = Mistakes (Defects)

 

Yoke = Avoid (Remove)

 

The Poka-Yoke concept was formalized, and the term adopted, by Shigeo Shingo as part of the Toyota Production System. A good example of Poka-Yoke in banking industry is that when a customer using an ATM, the customer receives back his/her ATM card first, before the ATM machine issues the desired money. This sequence prevents the customer from walking away with money and forgetting his/her card.

 

Example: Automating account number validation during transactions in banking software prevents data entry errors, ensuring accurate processing.

 

Digital error-proofing mechanisms in online banking minimize manual mistakes by using automated checks, validations, and intelligent systems. Key features include:

 

1.       Input Validation: Ensures correct formats for account numbers and codes.

 

2.       Dropdown Menus and Auto-Fill: Reduces typos and repetitive entries.

 

3.       Confirmation Prompts: Displays transaction summaries for user review.

 

4.       Error Messages and Alerts: Guides users to correct mistakes in real-time.

 

5.       Dual Authentication: Adds security layers to prevent unauthorized actions.

 

6.       Tooltips and Assistance: Provides on-screen guidance for accurate inputs.

 

7.       AI and Automation: Predicts and flags anomalies based on user behaviour.

 

These mechanisms streamline operations, enhance security, and align with Lean principles by reducing waste and improving efficiency.

 

SMED

 

SMED = Single-Minute Exchange of Die

 

SMED is a lean tool used to reduce the time it takes to change from running one process in operation to running another. The essence of the SMED system is to convert as many changeover steps as possible to ‘external’ (performed while the equipment is running), and to simplify and streamline the remaining steps. The name SMED (Single-Minute Exchange of Die) comes from the goal of reducing changeover times to the ‘single’ digit (less than ten minutes). SMED’s utility is not limited to manufacturing industry, it can be used by service industry too.

 

Example: Simplifying the loan application approval process by converting verification steps into parallel activities (e.g., document scanning while background checks run). Simplifying the loan application approval process will reduce the time required for interdepartmental handovers in banks.

 

Kanban

 

Kanban is a workflow management method for defining, managing, and improving services that deliver work. Kanban aims to help visualize work, maximise efficiency, and improve continuously.

 

Kanban offers the flexibility to use the method on top of existing workflows, systems and processes without disrupting what is already in place. This method recognizes that existing processes, roles, responsibilities, and titles have value and are, generally, worth preserving. It highlights issues that need to be addressed and help assess and plan changes so their implementation is as non-disruptive as possible.

 

Example: Implementing a digital Kanban board for managing loan applications or customer service requests ensures real-time tracking and prioritization. Banks should include visual tools like dashboards in maintaining smooth workflows.

 

 

TPM

 

TPM = Total Productivity Maintenance

 

Total productivity maintenance (TPM) aims to minimize downtime. It is a systematic execution of maintenance by all employees through small group activities. The goals of TPM are zero breakdowns and zero defects. TPM is an approach to equipment maintenance that aims to achieve a perfect production or service process by increasing productivity, efficiency, and safety of equipment. This process involves participation of employees in setting workplace safety standards and maintaining a safe work environment.

 

TPM can be suitably applied in banking for maintenance of equipment (such as computer systems, Note-counting machines, ATMs, security alarms, printers, display systems, pass-book printing machines, fire extinguisher devices etc).

 

Example: Establishing regular maintenance schedules for ATMs and other banking equipment ensures uninterrupted service. Proactive equipment maintenance reduces downtime and enhances customer trust.

 

JIT

 

JIT = Just in Time

 

Due to globalization and continuously changing business environment, concept of 'Just in Time (JIT)' has emerged and is playing intensive role in business environment including banking. Just-in-time (JIT) financing is an approach adopted by banking industry.

 

Example: Just-in-Time cash replenishment in ATMs ensures availability while minimizing excess cash storage risks. Real-time monitoring systems will enable banks to implement JIT principles effectively.

 

Kaizen

 

Kaizen = Change for better

 

Kaizen is a Sino-Japanese word for ‘improvement’. It is a concept referring to business activities that continuously improve all functions and involve all employees from top level to junior level.

 

Kaizen sees improvement in productivity as a gradual and methodical process.

 

Example: Regular team (staff) meetings in a bank branch to brainstorm small process improvements, such as simplifying customer onboarding. When ground staff is involved in continual improvement exercise, it will have cumulative impact on customer experience and operational efficiency.

 

Gemba

 

Gemba is a Japanese term meaning the ‘actual place’. In Lean management, the idea of Gemba is that the problems are visible, and the best improvement ideas will come from going to the Gemba. The Gemba walk is an activity that makes management to the front lines to look for waste and opportunities to practice Gemba kaizen, or practical shop floor improvement. The Gemba walk is much like MBWA (Management By Walking Around). The objective of the Gemba Walk is to understand the value stream and problems rather than review results or make superficial view, comments or opinion. The Gemba Walk denotes the action to see the actual process, understand the work, ask questions, and learn. Taiichi Ohno, an executive at Toyota, led the development of the concept of the Gemba Walk. The Gemba Walk is an opportunity for employees to stand back from their day-to-day talks to walk the floor of their workplace to identify wasteful activities.

 

Example: Managers visiting customer-facing operations, such as bank tellers or call centers, to identify and resolve inefficiencies in real-time. Engaging frontline employees in problem-solving during Gemba walks will resolve many issues.

 

Standard Work

 

In Lean management, standardized work is a means of establishing precise procedure(s) to make product or service in the safest, easiest, and most effective way based on current technologies. Fifth principle of Lean management is to seek perfection, which is similar to Standardized work. Standardized work requires three elements: (1) Takt time – The rate at which parts, products, or services must be produced or delivered to meet customer demand, calculated as the available production time divided by the customer demand within that time frame. (2) Work Sequence – The step operators (the persons performing the processes) need to perform within Takt time, in the order in which the processes must be completed. (3) Standard inventory (or in-process stock) – Minimum quantity of parts and raw materials needed to run operations. For service sector, the safest and fastest work process. Standardization is the key to reducing errors and reducing risks.

 

Example: Standardizing the workflow for opening accounts to ensure consistent and efficient customer service across branches. Standardized work process reduces risks and enhance compliance with regulatory norms, such as banking regulations.

 

Conclusion

 

The Lean tools discussed in this chapter form the foundation of Lean Banking, enabling institutions to deliver superior value to customers while optimizing processes. By leveraging these tools, banks can not only minimize waste and errors but also foster a culture of continuous improvement. As banking evolves to meet the demands of a dynamic global economy, these tools will play an integral role in achieving operational excellence and sustaining competitive advantage. As the banking sector increasingly embraces technology, combining Lean tools with digital innovations will be vital in navigating future challenges and delivering unmatched customer experiences. Readers are encouraged to explore these tools further and adapt them creatively to address the unique challenges of the banking sector.

I welcome your comments, questions and suggestions.

Warm regards,

Keshav Ram Singhal 

Next - Lean Banking and Quality Management

Towards Improving Banking Services Quality - 21 - 5-S Practice and Lean Banking

Towards Improving Banking Services Quality

21.

5-S Practice and Lean Banking

 

Introduction

 

The 5-S Practice, a core component of Lean methodologies, plays a pivotal role in streamlining banking operations. Rooted in the principles of organization, cleanliness, and standardization, it fosters a Total Quality Environment. By applying 5-S in banking, institutions can significantly reduce inefficiencies, improve workplace productivity, and enhance customer experiences. Whether it’s optimizing document retrieval times, maintaining a clutter-free environment, or promoting discipline among employees, the 5-S framework aligns seamlessly with Lean Banking principles, ensuring a structured and efficient approach to modern banking challenges. 5-S Practice is a recognized practice of TQMEX model and also a Lean tool for improving productivity. Five pillars of 5-S stand for five Japanese words – Seiri, Seiton, Seiso, Seiketsu and Shitsuke.

 

These five pillars are useful in improving the physical environment of the work place, and also the thinking processes. 5-S movement takes its name from the five Japanese words that start with the letter S. Basically 5-S Practice is applied in manufacturing industry, however this practice is also useful to service sector including hospitals, banks etc.

 

THE FIRST STEP OF 5-S – ‘SEIRI’ – The English equivalent of the Japanese word ‘Seiri’ is ‘Structurize’. It means organization of the affairs and sorting of things in a better way. ‘Straighten up’ may be another name of ‘Seiri’. The typical examples of ‘Seiri’ are: throw away rubbish and worthless items, separate the things that are necessary for the job from those that are not. It means clearly distinguish needed items from unneeded items and eliminate the unneeded items.

 

‘Seiri’ is the first pillar of visual workplace, corresponds to the ‘Just in Time’ (JIT) principle:

 

-          Not needed at all in the organization

 

-          Not needed here (at the workplace)

 

-          Needed, but not now

 

-          Needed, but not so much

 

‘Seiri’ means remove all items from the workplace that are not needed for current production operations. It is about separating the things, which are necessary for the job from those that are not necessary for the job. Keep the number of necessary things for the job as low as possible and at a convenient location. To make this step and effective one, you should differentiate between the necessary things and unnecessary things and discard the unnecessary things in following areas:

 

-          Unnecessary work in process

 

-          Unnecessary tools

 

-          Unused machinery

 

-          Defective products

 

-          Papers and documents of no use

 

Actions required:

 

-          Segregate required, useable, re-workable and obsolete items.

 

-          Dispose of the unwarranted items

 

-          Clear off walk ways

 

Remember:

 

-          One picture is worth more than thousand words.

 

-          Do away with unnecessary items and processes

 

Banking-Related Examples for Seiri (Sort, Structurize) 

 

Decluttering customer service desks by removing outdated forms and unused promotional materials ensures only the most relevant resources are available for employees. A bank branch segregates outdated promotional materials, irrelevant forms, and unused stationery, clearing up storage space. Identifying and archiving outdated customer records to ensure only active accounts remain accessible, enhancing system efficiency.

 

Impact: Reduces clutter, enabling staff to focus on current and relevant materials, which enhances efficiency.

Figure 14 - TQMEX Model and 5-S Practice

THE SECOND STEP OF 5-S – ‘SEITON’ – The English equivalent of the Japanese word ‘Seiton’ is ‘systematize’. It means neatness, set in order and orderliness (which means putting things in order). The typical example of ‘Seiton’ is: retrieval of a document within a shortest possible time (as early as possible say within 30 seconds). It means keeping needed items in the correct place to allow for easy and immediate retrieval. Set the things in order (arrange needed items) so that they are easy to use. Label the items so that anyone can find them easily and put them away.

 

Things must be kept in order so that they are ready for use when needed. Generally, it is observed that employees spent lot of time searching for documents, tools and records. Japanese companies are good examples for maintaining things in order. ‘Seiton’ is all about neatness and neatness is a study of efficiency that provides an answer to the question – ‘how quickly anyone can get the things needed and how quickly anyone can put them away’.

 

There are four ways of achieving ‘Seiton’:

 

-          Analyse the present situation

 

-          Decide where things belong

 

-          Decide how things should be removed or put away

 

-          Obey the put away rule

 

-          Putting things back where they belong

 

Actions required:

 

-          Use labels, colour codes for easy identification

 

-          Use index for file, records, drawings etc to facilitate retrievability

 

-          Plan storage with accessibility

 

Remember:

 

A place for everything and everything in its place

 

Banking-Related Example for Seiton (Systematize)

 

Introducing a digital document management system for faster retrieval of customer records, reducing retrieval time from minutes to seconds. The bank systematically organizes frequently used forms, such as loan applications and deposit slips, in labelled drawers or digital folders. Establishing QR code labels for documents and files, enabling employees to quickly locate and retrieve them using digital scanning tools.

 

Impact: Staff can retrieve any form or records within a few seconds, improving customer service speed and minimizing frustration during busy hours.

Figure 15 - Pillars of 5-S

 

THE THIRD STEP OF 5-S – ‘SEISO’ – The English equivalent of the Japanese word ‘Seiso’ is ‘Sanitize’. It means shining, sweeping and cleaning. ‘Clean up’ the work place to keep everything in top condition. When someone needs to use something, it should be ready for the use. Typical example of ‘Seiso’ is: individual cleaning responsibility.

 

Keep the work place clean. Everyone in the organization from the managing director to the lowest cadre staff should undertake he job. ‘Seiso’ means to conduct a clean-up campaign.

 

Actions required:

 

-          Inspect and cleaned the supply lines, stockroom, scrap-yards and gardens

 

-          Clean-up workplace, machines, and tools after use

 

-          Identify root causes of loud noise, vibration, heat build-up in equipment and take remedial action

 

Remember:

 

-          Spice and span lead to zero break-downs.

 

Banking-Related Example for Seiso (Sanitize):

Regularly cleaning ATM kiosks, branch counters, and employee workstations to ensure a hygienic environment for customers and staff. After each shift, the teller area is cleaned, and the workstations are sanitized, ensuring computers, counters, and cash counting machines are free from dust and grime. Implementing a checklist for cleaning high-touch areas like cash counters and PIN (Personal Identification Number) pads multiple times daily to reassure customers of safety.

 

Impact: A clean environment promotes better health for employees and leaves a good impression on customers.

 

THE FOURTH STEP OF 5-S – ‘SEIKETSU’ – The English equivalent of the Japanese word ‘Seiketsu’ is ‘Standardize’. It means standardization. ‘Seiketsu’ (standardize) differs from ‘Seiri’ (sort), ‘Seiton’ (set in order) and ‘Seiso’ (shine). The first three pillars can be thought of activities, as something people in the organization do. ‘Seiketsu’ (standardize) is the method to maintain the first three pillars of 5-S. It is the fourth pillar of the VISUAL WORKPLACE.

 

The emphasis is on visual management and standardization. ‘Seiketsu’ means to conduct ‘Seiri’ (sort), ‘Seiton’ (set in order) and ‘Seiso’ (shine) at frequent intervals (in fact daily) to maintain a workplace in perfect condition.

 

Actions required:

 

-          Develop standards

 

-          Establish checking procedure (5W + 1H) – What, Why, Where, Who, When and How.

 

-          Create visual controls

 

-          Devise ways and means to explore problems and their solutions

 

Remember:

 

-          Action speaks louder than words

 

Banking-Related Example for Seiketsu (Standardize)

Implementing uniform guidelines for arranging files, documents, and tools across all bank branches ensures consistency and easy auditing. The bank establishes a weekly checklist for cleaning and organizing customer lounge areas, including arranging chairs, sanitizing ATMs, and replenishing brochures. Using uniform designs for signage and forms across all branches, ensuring customers easily recognize and understand them.

 

Impact: Maintains consistent service standards across all branches, leading to better customer experiences.

 

THE FIFTH STEP OF 5-S – ‘SHITSUKE’ – The English equivalent of the Japanese word ‘Shitsuke’ is ‘Self-discipline’. It means to make a habit of properly maintaining correct procedures. Discipline is a process of repetition and practice. Self-discipline goes beyond discipline and becomes a habit of doing things in disciplined manner every time. The emphasis of the fifth step of 5-S is creating a workforce with good habits. Everyone must follow the procedures at the workplace every time.

 

Actions required:

 

-          Develop action plan for maintaining the set standards

 

-          Give unambiguous advice / instructions to your work associates

 

-          Carry on 5-S activities as a matter of habit and enthuse others to practice 5-S

 

-          Conduct self-audit of 5-S practice in your organization

 

Remember:

 

-          Be a self-starter

 

Banking-Related Example for Shitsuke (Self-Discipline):

Encouraging employees to habitually log out of systems after work to maintain data security, coupled with regular self-audits of their compliance with workplace protocols. All bank employees practice the habit of logging off systems at the end of the day and securely storing customer-sensitive documents in designated lockers. Conducting monthly employee workshops to reinforce the habit of promptly addressing workplace inefficiencies and maintaining the 5-S practice.

 

Impact: Encourages a culture of accountability and compliance with data security policies, reducing risks of information breaches.

 

Conclusion

 

The 5-S Practice is more than just a set of workplace principles; it is a transformative methodology that drives operational excellence in Lean Banking. By integrating 5-S into daily banking operations, institutions can achieve a structured, efficient, and customer-centric environment. From decluttering physical and digital spaces to fostering self-discipline among employees, the benefits of 5-S are manifold. Banks adopting these practices can expect enhanced productivity, streamlined processes, and a superior customer experience—hallmarks of success in the competitive world of modern banking.

 

A research study published on 31 August 2018 in the ‘IMPACT’: International Journal of Research in Humanities, Arts and Literature (IMPACT: IJRHAL) included the fact that ICICI Bank in India implemented 5-S. The bank claims to have saved around Rs. 75 million through the implementation of quality programmes. This could be contributed to the use of 5-S that made up to 50 per cent savings. And with other benefits the record time for tracing documents has reduced to 30 seconds.

 

In the rapidly evolving banking sector, where technology and customer expectations change dynamically, adopting methodologies like 5-S ensures banks remain agile, efficient, and customer-focused. By embedding these principles into their operational DNA, banks can pave the way for sustained growth and innovation.

I welcome your comments, questions and suggestions. 

Warm regards,

Keshav Ram Singhal 

Next - Other Lean Tools for Lean Banking

Towards Improving Banking Services Quality - 20 - Productivity Booster Methodology – ESSA

Towards Improving Banking Services Quality 

20.

Productivity Booster Methodology – ESSA

 

Introduction

 

ESSA is a productivity-boosting methodology attributed to Wayne Fortuna, the former CEO of Hutchinson Technology. ESSA is an acronym that stands for Eliminate, Simplify, Standardize and Automate.  This concept has been used in manufacturing for years but is now becoming popular in all forms of business including service sector like banking.

 

When done correctly ESSA methodology will improve productivity, allow people to spend more time on value-added activities and eventually lower costs in the organization substantially.

 

1)      Eliminate: Remove Non-Value-Added Activities

 

The most crucial element of the ESSA methodology.  Productivity by definition is doing more with less.  The elimination of non-value-added activities and processes that simply are not needed is the first step in the journey. To eliminate such activities, people need to be honest and give up doing things the way they have always been done. 

 

Please do not confuse elimination with automation.  When an organization automates processes having non-value-added activities, the organization simply is automating waste and get to the bad results quicker. Technology vendors often showcase their solutions under ideal conditions, which may not always reflect the realities of organizational processes. The reality is people are not very comfortable with the removal of non-value-added activities and tasks because it defines the job they currently are doing at work. Automation should be the last step, not a substitute for elimination. Automating waste leads to inefficiency at scale.

 

2)      Simplify: Focus on Efficiency and Effectiveness

 

Once an organization get rid of the non-value-added activities the organization should not be doing then it is time to simplify what is left.  Simpler approach leads to less quality issues and is always more reliable.  More importantly happier people.  The frustrations of dealing with complex processes makes people crabby at work.

 

How long does it take to complete tasks in your organization? How many meetings are required to resolve issues? Do employees feel that accomplishing simple tasks often takes hours, if not days?  Simple hang-ups in the morning lead to all day long activities. These are all clues that the organization's processes need simplification. Organizations should encourage employees to critically evaluate long-standing practices and embrace necessary changes for improvement.

 

If this is the organization's situation the related processes need simplification.  Simplification does not mean jeopardizing the output; it simply involves achieving more with less effort. To simplify a process requires duplication and errors be removed. For instance, in banking, simplifying the loan approval process by reducing redundant verifications can significantly enhance customer satisfaction and operational efficiency.

 

3)      Standardize: Build Scalability Through Consistency

 

 

A simple process by every individual in the system is not scalable.  A simple process adopted by everyone in the system is scalable.  This notion of scalability leads to massive gains in productivity. Scalability refers to the ability of a process to handle increased workload efficiently without compromising quality.

 

The universal adoption of a consistent process in the system is the definition of standard. Standardized processes are more reliable and deliver higher quality outcomes. Standardized processes do not necessarily imply lack of customization simply it means consistency in the system.  A design process can be consistent and yield highly unique and customized products.

 

Without standardization organizations cannot automate processes.  The only way to scale to more demand without standardization is to hire more people.  In today’s labour market the lack of available people makes growth without standardization nearly impossible.

 

One important element to consider with standardization is that the true gains come when both the process and the management systems become standardized.  Most organizations focus on the standardization of the processes; however, management needs to have mechanisms on how to review the results of the process and have consistent decision-making frameworks to best utilize and capitalize on the gains made by the process.

 

4)      Automate: Harness Technology for Productivity Gains

 

Automation is the process of taking well run processes and adding technology to maximize the final steps in productivity.  When an organization automates poorly run processes, the organization is automating the wastes in the process in addition to the work.  Automation is fairly expensive activity to undertake and the automation of wastes will reduce the payback of the investment. Before automating, organizations should assess the return on investment (ROI) to ensure the cost of automation aligns with the expected productivity gains.

 

Automation, if done correctly, will deliver consistent results, high quality, and ultimately a productivity explosion. The productivity gain can then be used to lower costs or reinvest in growth.

 

Conclusion

 

By embracing the ESSA methodology in its entirety, organizations, including banks, can achieve transformative improvements in productivity and efficiency, laying the foundation for long-term success in a competitive landscape.

 

The ability to transform individual or organizational productivity is a gradual progression. Each of these steps will have significant impact to productivity.  When done in the proper sequence and taken all the way to automation productivity can jump tenfold. Ultimately, when implemented correctly, ESSA has a significant positive impact on the organization's bottom line. In the rapidly evolving banking industry, where efficiency and customer satisfaction are paramount, adopting the ESSA methodology can be a transformative strategy for achieving lean operations and sustainable growth.

I welcome your comments, questions and suuggestions.

Warm regards,

Keshav Ram Singhal 

Next - 5-S Practice and Lean Banking