A lean-led approach to operating model transformation in financial services

Published: August 27, 2010

“Lean-led transformation” uses this approach to provide rapid improvement to cost structures, client service, and risk reduction

  • The lean approach originated in manufacturing in the 1940s. More recently, it has been applied by leading financial institutions, primarily through targeted improvement programs
  • However, financial institutions are increasingly under pressure to cut costs and grow. By applying lean principles more broadly, institutions can fundamentally transform their operating models
  • A lean-led business transformation builds a robust, factual understanding of the current state, exposing improvement opportunities to design an end-state operating model that:
    • Achieves best-in-class efficiency
    • Reduces client, financial, and regulatory risk
    • Creates measurable client impact
    • Scales with growth
  • The lean-led approach is proven. Financial institutions have generated significant results, reducing relevant cost structures by 20% to 30% while generating marked improvement in client service
  • A lean-led business transformation embeds continuous improvement into the organization, and engages employees to help business leaders successfully govern and execute change

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A lean-led approach to operating model transformation in financial services