Background: A prominent bank in Africa faced multiple challenges in managing their branch operations, particularly related to funds transfer activities. These challenges included time-consuming manual processes, customer inconvenience and inefficient resource allocation. To address these issues and improve operational efficiency, the bank approached SUPRA Partners to implement LSS methodologies. This case study focuses on the successful implementation process – highlighting key achievements and improvements in performance indicators

Challenges: The bank encountered the following challenges in its funds transfer and cash payment operations:

• Delays caused by requiring a second signature from customers at the teller window (waiting time)
• Lack of customer awareness and promotion of mobile app-based funds transfers (manual process)
• Inefficiencies in workloads at branches – leading to extended processing times and customer dissatisfaction (experience issue)
• Manual photocopying processes by tellers resulting in significant time wastage (process waste)

Approach: To overcome these challenges, the bank engaged the expertise of SUPRA Partners to implement LSS methodologies supported by possible solution through fish bone diagram and identify process waste and waiting time using value stream mapping. The following approaches were adopted:

• Comprehensive analysis of end-to-end processes using value stream mapping to identify waste, bottlenecks, and improvement opportunities
• Utilization of a fishbone diagram to identify root causes and analyze issues related to photocopying, second signatures, and workload optimization
• Following the DMAIC (define, measure, analyze, improve, and control) approach to guide problem-solving and decision-making using data-driven methods

Achievements: This project introduced several improvements and achievements:

• Reduction in funds transfer processing time by 20% through the implementation of lean six sigma methodologies. This improvement resulted in faster transaction execution and enhanced customer satisfaction
• 15% reduction in errors and transaction rejections by implementing error-proofing measures and enhancing process controls. This improvement significantly increased operational efficiency and reduced customer inconvenience
• Implementation of a digital platform for funds transfer, resulting in a 25% increase in mobile app usage and a corresponding decrease in branch-based transactions. This shift to digital channels reduced operational costs and improved overall customer experience
• Enhanced accuracy and data integrity through the implementation of automated data validation and verification processes. This resulted in a 30% reduction in transaction errors and improved the bank’s reputation for reliability and security
• Improved employee productivity by implementing targeted training programs on lean six sigma principles and tools. This led to a 15% increase in transaction throughput per employee, enabling the bank to handle higher transaction volumes without additional staffing needs
• Enhanced compliance and risk management through the implementation of standardized processes and documentation. This resulted in a 40% reduction in compliance-related errors and improved the bank’s regulatory standing
• Increased customer trust and loyalty through faster resolution of funds transfer-related issues. The implementation of lean six sigma methodologies enabled the bank to achieve a 20% reduction in the average time taken to address customer queries or concerns

Conclusion: Through the implementation of Lean Six Sigma methodologies, bank successfully addressed the challenges associated with their funds transfer operations. The achievements obtained demonstrate the bank’s commitment to continuous improvement and optimizing operational efficiency

The reduction in funds transfer processing time and error reduction highlight the effectiveness of Lean Six Sigma in streamlining processes and enhancing customer satisfaction. By leveraging automated and digital solutions, the bank was able to improve accuracy, increase mobile app usage, and reduce reliance on branch-based transactions, resulting in operational cost savings and an enhanced customer experience