Streamlining cross departmental interactions of back office processes in financial services

Streamlining cross departmental interactions of back office processes in financial services

Rutte, C.R.

Technology, Policy and Management

Multi Actor Systems

2011-10-20

Due to the increased competitive environment in the retail banking industry, customer satisfaction and efficient back office processes have become more important. Lean Six Sigma (LSS) is a management style that is focused on improving processes and increasing customer satisfaction. Discrete-Event Simulation (DES) is a method that is able to capture dynamic processes, and supports the analysis of processes and evaluation of alternative designs. The literature of an integrated approach of LSS and DES is scant. In this article the research question is answered: “When and how can Discrete-Event Simulation and Lean Six Sigma be integrated?”. A case is researched, designing improvements to the closing process of current accounts at a retail bank, with an integrated approach of LSS and DES techniques. The case shows that DES can be properly used in LSS when a dynamic, interactive and complicated process is improved. Vice versa, LSS provides tools and dynamics that can support a DES study. These are: a strong focus on analyzing issues, involving stakeholders for generating alternative designs and the project management tools handed by LSS. Future research should focus on the value of the integrated approach for: implementing designs, the effects of animation and the use of the integrated approach with a full project team.

Reengineering
Lean Six Sigma
Discrete-Event Simulation
Business Processes Modelling
Financial services

http://resolver.tudelft.nl/uuid:01438c6e-1075-448a-959a-d8346e1a3b84

Systems Engineering, Policy Analysis and Management (SEPAM), Delft University of Technology

SPM 5910, SEPAM Master's thesis project

Institutional Repository

journal article

(c) 2011 Rutte, C.R.