Bank of America presentation

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Adoption of Six Sigma @ Bank of America

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Bank of America presentation

  1. 1. 1
  2. 2.  33 million consumer relationships  3.4 million small business  # 1 Consumer Bank  5829 branches  # 1 AT M B a n k i n g S y s t e m - 1 6 , 5 0 0 AT M s  # 1 Online Bank  # 1Small Business Bank  2 nd l a rg e s t M a r k e t C a p i t a l i z a t i o n  Serves more than 150 countries  Acquisition with Merrill Ly n c h – w o r l d ’s largest wealth 2 manager
  3. 3. Merger – Nations Bank of Charlotte, NC Inorganic growth strategy Problems with customers Six Sigma Adoption Gains from Six Sigma Certification Cu ltu ral Tran sf o rmatio n 3
  4. 4. No core values Time taken to Not generating display enough sales transactions Failed to Frequent generate breaking down of customer online system satisfaction High Response cycle time 4
  5. 5. Resistance of Six Sigma Focus on Errors in acquiring more customer deliver customers channels Lower Low customer efficiency delight scores No proper leadership 5 philosophy
  6. 6. Inorganic Strategy > large Customer Knowledge Gap Base >No retention & satisfaction Lead to low delight scores & low Standard Gap quality of service Communication Promised but not delivered Gap Perception & Problems in AT M s , break down of Interpretation Gap online system 6 Promised Quality services, Service Gap satisfaction but not delievered.
  7. 7. Employees, Customers People AT M s , O n l i n e Banking System Serving Customers Process Te c h n o l o g y 7
  8. 8. Organic Growth Six Sigma Strategy 8
  9. 9.  Providing High Quality Service  Enhancing satisfaction  Retention of Customers 9
  10. 10. Journey Begins 10
  11. 11. Right Level of measurement Accounting for variability Right emphasis on quantitative vs. qualitative Interpretation & management support for change Reducing error or defects in services or products Follow “ Breakthrough Strategy” 11
  12. 12. Breakthrough Strategy Champions Master Belts Black Belts Green Belts 12
  13. 13. Core Performance Business Leadership Metrics approach Philosophy 13
  14. 14. Gathering VOC & CTQ Benchmarking Metrics for Sale 90% Customer of services Delight Set Standards & High Quality Ta r g e t s – e a c h Service branch & employee 14
  15. 15. Increasing & Improving Service Reducing Reduce errors response cycle time Operations & Computerized & entire value Electronics chain Channels 15
  16. 16. Recruited Professionals Adapt to Prioritizing Culture of services Quality Imparted Set up of Quality 16 P r o c e s s Te a m s Training to Employees
  17. 17. Help ed in Cu ltu ral Tran sf o rmatio n Followed set of core values Acquiring customers to Building long lasting relationships Significant Cost savings & Revenue Generation Reduced Errors & long waiting queues 17 Speed up Merger of BOA & Fleet
  18. 18.  Importance of accuracy in service industry  2 1 s t C e n t u r y – E f f e c t i v e To o l  A way to perfect organization – Management to Goodwill 18
  19. 19. Improved Sales Productivity Performance 19
  20. 20. 20

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