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Applying Lean Principles: Back-Office Payments Use Case

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This presentation shows how lean principles are used for mapping value streams, create visibility, manage work levels and how it helped the organization to dramatically reduce the amount of waste in the payments team performance. This transformation through processes optimization and improvement of teams performance had the most valuable impact on payments service quality, as well as customer and employee satisfaction.

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Applying Lean Principles: Back-Office Payments Use Case

  1. 1. LEJLA VULOVIĆ | HEAD OF CENTRAL OPERATIONS DIVISION | RAIFFEISEN BANK BOSNIA AND HERZEGOVINA Business Agility in Financial Services Applying Lean Principles: Back-Office Use Case
  2. 2. PPM Experience Organizational Transformation & Restructuring, PMO Set-up, Cash Operations Management, E-Channels Innovation, Payments Operations, IT/ SW development, Sizes from €20k to € 50 mil. Education M.Sc.Eng (Faculty of Electrical Engineering, University of Sarajevo) Certified PMP since 2012 Name  Function  Company Lejla Vulović Head of Central (non-retail) Operations Raiffeisen Bank dd BiH Professional Experinece 10 yrs. Project Mgm in Banking area 5 yrs. Senior Leadership & Management 5 yrs. Trainer, Coach
  3. 3. Agenda Lean in Banking Main elements of Lean transformation Payments Back Office Use Case
  4. 4. Lean in Banking
  5. 5. LEAN creating more value for customers with fewer resources. Lean /li:n/ – eng. adjective (of a person or animal) slim, thin, especially healthily so, without fat; adjective (of an industry or company) efficient with no wastage.
  6. 6. It all started with TOYOTA! Lean implementation moved from car manufacturing to other industries and productions, healthcare, service companies such as banking and finance, IT... Lean was originally created by Toyota to eliminate waste and inefficiency in its manufacturing operations. The process became so successful that it has been embraced in manufacturing sectors around the world. 1956 – TPS (Toyota Production System) with all lean elements introduced 1982 – Toyota and General Motors introduced the first lean production system in western countries 1990s – TPS (lean) started to concour Europe (Opel, Audi, Mercedes-Benz, Porsche,...)
  7. 7. The best definition of Lean in banking is … …satisfying explicit and implicit customer needs with the lowest consumption of resources and preserving the assets of the bank by continuously eliminating waste, variability and rigidity SOURCE: McKinsey
  8. 8. Lean Strategy Improve customer satisfaction by: » Shortening processes » Delivering faster » Flexible production » Improving quality » Increasing productivity » Decreasing costs Lean Transformation consists of three phases: Diagnosis, Design and Implementation. Continious Improvement!
  9. 9. Main elements of Lean transformation
  10. 10. Lean attacks 3 main inhibitors of superior performance – Waste, Inflexibility, and Variability Less waste means lower costs, better quality and consistent throughput (service level) Reducing inflexibility means delivering what clients want, when they want it, and in the right quantity (service level) Reducing variability means improving process reliability, i.e., lowering cost and improving qualitySOURCE: McKinsey
  11. 11. 3 main elements of Lean Approah Around Voice of the Customer, Lean approach is built on three elements, that must all be present for a successful implementation. Operating system “The way the process is configured and optimized to create value and minimize losses” Management Infrastructure “The formal structures and systems through which resources are managed in support of the service process” Mindset and Behavior “The way people think, feel and conduct themselves on the shop floor, individually and collectively” SOURCE: McKinsey
  12. 12. Payments Back Office Use Case
  13. 13. Optimize processes and working methods end to end › Process simplification (removing process steps) › SOPs - Standard operating procedures › Physical layout changes › 5 “S”
  14. 14. Payment processing time reduced 33%* *From 42s (before lean implementation) to 28s through continious improvement.
  15. 15. Lean Office Layout
  16. 16. Build formal structures and processes to manage the operating system to deliver business objectives › Cascaded KPI structure › Visual performance boards › Performance reviews › Daily morning meetings around KPIs › Capacity planning
  17. 17. DRAMATIC INCREASE OF PRODUCTIVITY AND DECREASE OF ERROR RATE Productivity Doubled and further increased through continious improvement Continious Improvement Error Rate decreased 50% and it is continiously reduced Lean Sustainability Review performed twice a year. LSR Index 98%!
  18. 18. Employee Satisfaction in average 95% Internal Customer Satisfaction in average 93%
  19. 19. LEJLA VULOVIĆ | HEAD OF CENTRAL OPERATIONS DIVISION | RAIFFEISEN BANK BOSNIA AND HERZEGOVINA Be Lean!

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