Six Sigma Deployment Approach Axis Bank - Canopus Business ...
Six Sigma Deployment Approach Axis Bank - Canopus Business ...
Six Sigma Deployment Approach Axis Bank - Canopus Business ...
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24 th February 2010<br />
Neil (Nilakanta Srinivasan)<br />
Principal<br />
<strong>Canopus</strong> <strong>Business</strong> Management Group<br />
+91 9176616766<br />
www.collaborat.com<br />
All rights reserved @ <strong>Canopus</strong> <strong>Business</strong> Management Group +91 44 43527020
Neil is a Certified <strong>Six</strong> <strong>Sigma</strong> Master Black Belt with proven capabilities in <strong>Six</strong> <strong>Sigma</strong>. His last assignment was with<br />
HSBC <strong>Bank</strong> as SVP for Customer Experience & <strong>Business</strong> Transformation across all LOBs. <strong>Bank</strong> had CFO certified<br />
benefits of $9Mn in 2008 in his leadership and projects won several national & international awards for quality.<br />
Neil has lead <strong>Six</strong> <strong>Sigma</strong> <strong>Deployment</strong> in 3 Large <strong>Bank</strong>s in his career. For BoA’s Operations, he built Quality &<br />
Productivity capability across pan-India Operations.<br />
As the Head of Service Excellence Training for Standard Chartered Group, Neil customized <strong>Six</strong> <strong>Sigma</strong> to suit<br />
<strong>Bank</strong>ing environment and rolled out IDEAL methodology for SCB across all its major markets globally. He has<br />
personally trained 1000+ candidates including CXOs on <strong>Six</strong> <strong>Sigma</strong> methodology and mentored and certified many<br />
Green Belts & Black Belts..<br />
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About Us<br />
<strong>Canopus</strong> <strong>Business</strong> Management Group helps clients in:<br />
Retaining their customers & moving them to loyalty band<br />
Improving sales conversion & increasing customer’s share of wallet<br />
Help SMEs Turn-Around /Grow<br />
Improving profitability using lean six sigma & Lean<br />
For Individuals, we also offer<br />
One-on-One Coaching Programs :<br />
•Managing <strong>Business</strong> Excellence<br />
• Lean Practitioner<br />
• Fact Based Management for Leaders<br />
• Emerging Manager’s Program<br />
• Green Belt Coaching and Certification<br />
• Black Belt Coaching and Certification<br />
All rights reserved @ <strong>Canopus</strong> <strong>Business</strong> Management Group +91 44 43527020<br />
3
<strong>Six</strong> <strong>Sigma</strong> made inroads into the world of finance with GE<br />
Financial Services<br />
American <strong>Bank</strong>s where the first go, followed by European &<br />
Asian <strong>Bank</strong>s.<br />
<strong>Bank</strong> of America has been the most successful among banks to<br />
benefit from <strong>Six</strong> <strong>Sigma</strong> Program with nearly $3Bn & 30%<br />
increase in Customer Satisfaction<br />
<strong>Bank</strong>s in India which practice <strong>Six</strong> <strong>Sigma</strong> are ICICI, HDFC, HSBC,<br />
SCB, Barclays, Yes <strong>Bank</strong>, Kotak and many others<br />
The maturity level of the deployment programs and objectives<br />
are different, thus benefits and success varies too…<br />
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Personal <strong>Bank</strong>ing<br />
Commercial <strong>Bank</strong>ing<br />
Institution <strong>Bank</strong>ing<br />
Investment <strong>Bank</strong>ing<br />
Private <strong>Bank</strong>ing<br />
Non-<strong>Bank</strong>ing (AMC)<br />
Customer<br />
Acquisition<br />
Service Delivery<br />
(Operations)<br />
Service Fulfillment<br />
(Customer Service)<br />
All rights reserved @ <strong>Canopus</strong> <strong>Business</strong> Management Group +91 44 43527020<br />
Service Quality &<br />
Customer Experience
Higher Shareholder Return<br />
Financial Benefits<br />
Improvement in Customer Satisfaction<br />
Process Orientation<br />
Change in Culture!<br />
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Customer Acquisition<br />
• Increase in Cross Sell<br />
• Increase in Sales Conversion Ratio<br />
• Reduction in On-boarding Time<br />
• Share of Wallet Increase<br />
• Increment Sales<br />
• Dormant Account Reduction<br />
Service Delivery(Operations)<br />
• Channel Efficiency<br />
• Reduction in Cost of Servicing<br />
• Turn Around Time Reduction for Loans<br />
• Cost per transaction reduction<br />
• Operational Loss Reduction<br />
Service Fulfillment(Customer Service)<br />
• Migration to low cost channels<br />
• Branch Profitability Improvement<br />
• Channel Utilization<br />
Service Quality & Customer Experience<br />
• Increase in Customer Satisfaction Scores<br />
• Increase in Brand Loyalty Scores<br />
• Complaints Reduction<br />
• Transaction Error reduction<br />
Page Protected<br />
• Reduction in Customer Attrition<br />
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Partial List of Projects in Personal banking<br />
• Customer Retention<br />
• Branch Office Expense Reporting<br />
• Branch Office Profitability<br />
• Brokerage Transfer Cycle Time<br />
• Call Service Quality Evaluation<br />
• Cash Vault Efficiency<br />
• Check Deposit Errors Reduction<br />
• Check Processing Time Reduction<br />
• Decrease Amount Of Returned Mail<br />
• Eliminate Unnecessary Paper Reports<br />
• Improve Cycle Time In Website Enrollment<br />
• Improve Recovery Rate Of Charged-off Loans<br />
• Reduction in Incomplete Documentation<br />
• Inaccurate Billing<br />
• Reduction in Write-offs<br />
• Reduction in Low Balance Accounts<br />
• New Account Opening TAT reduction<br />
• Prospect To Client Experience Improvement<br />
• Reduce Branch Office Rework<br />
• Reduce Check Defects<br />
• Error reduction in Account up gradation<br />
• Reduce Loan Approval Hand-off Process<br />
• Reduce Payment Failures<br />
• Retail Lockbox Error reduction & efficiency<br />
• Root Cause Of Insurance Complaints<br />
• Undeliverable Mail Reduction<br />
• Branch Profitability Improvement<br />
• Non-receipt of Statements Complaints
Tactical Problem Solving<br />
<strong>Approach</strong><br />
• Run as many projects across LOBs<br />
• Less strategic interventions<br />
• Limited Leadership participation<br />
• Narrow focus on tactical benefits<br />
• No cultural impact<br />
• Inexpensive<br />
• Becomes a fad with time<br />
Enterprise Change<br />
Management<br />
Program<br />
• Strong Linkage to business strategy<br />
• Takes long time to show results<br />
• Initial Investment is big<br />
• Higher Risk<br />
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• If enterprise gets it right, has<br />
strong positive cultural impact
Most banks encountered these failures :<br />
• No/Less linkage to <strong>Business</strong> Strategy<br />
• Treating <strong>Six</strong> <strong>Sigma</strong> like any other Implementation Project<br />
• Position <strong>Six</strong> <strong>Sigma</strong> as a Training & Recognition tool for Junior staff<br />
• Assuming <strong>Six</strong> <strong>Sigma</strong> to be a $$ Pumping Machine<br />
• Getting impatient!<br />
• Varying levels of Senior Management Commitment<br />
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Senior Management<br />
Middle Management<br />
Junior Management<br />
Demonstrate <strong>Business</strong> Results & Impact<br />
on Balance Sheet<br />
Brand Loyalty & Customer Satisfaction<br />
Reduces Risk & assures peace of mind<br />
Career Progression<br />
Skill Addition<br />
Recognition among peers<br />
Monetary Benefits<br />
Accelerates Career Growth<br />
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All rights reserved @ <strong>Canopus</strong> <strong>Business</strong> Management Group +91 44 43527020
• Linking to <strong>Business</strong> Strategy & Annual objectives<br />
• Engage Operations, Technology & other Enabling Functions upfront<br />
• Drive multi-dimensional projects rather than a focus on single facet<br />
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• Identifying projects linked to business strategy<br />
•Train & Certify your representatives<br />
• Coach, Mentor & Review project leads<br />
• Build Internal <strong>Six</strong> <strong>Sigma</strong> Leadership Capabilities such Training & <strong>Deployment</strong><br />
• Evolve & help deploy a strong change management strategy for Service Quality<br />
• Conduct Customer Journey Mapping * (Beyond <strong>Six</strong> <strong>Sigma</strong> <strong>Deployment</strong>) but impacts<br />
Service Quality<br />
All rights reserved @ <strong>Canopus</strong> <strong>Business</strong> Management Group +91 44 43527020
Phase 1<br />
Proof of<br />
Concept<br />
Phase 2<br />
Ramp-up<br />
Phase 3<br />
Full-fledged<br />
execution<br />
Champion’s<br />
Workshop<br />
Black Belt<br />
Training<br />
Sustenance &<br />
Audit<br />
Project<br />
Scoping<br />
Mass Awareness<br />
Program<br />
Leadership<br />
Movements<br />
Green Belt<br />
Training<br />
Policies<br />
Page Protected<br />
MBB<br />
Certification<br />
GB Project<br />
Mentoring<br />
Internal<br />
Communication<br />
Enterprise<br />
<strong>Business</strong><br />
All rights reserved @ <strong>Canopus</strong> <strong>Business</strong> Management Group +91 44 43527020<br />
Tollgate<br />
Reviews<br />
Green Belt<br />
Certification<br />
Internal Team<br />
Creation<br />
Communication<br />
to Stakeholders
Thank You For Joining!<br />
Visit our website for more resources<br />
www.collaborat.com<br />
All rights reserved @ <strong>Canopus</strong> <strong>Business</strong> Management Group +91 44 43527020<br />
15
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