Insights from The Lab


Category: Digitization

Cost Reduction in Banking: A Lesson from Henry Ford

Despite its historical-sounding title, this article is very much about cost reduction in banking today. It draws on lessons from the past. But it contains lots of information that you can put to use right away.

Get ready to cut those banking costs!

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Top 4 Quick-Hit Cost Reduction Techniques in Banks

This story concerns a prominent retail bank in Canada boasting $27 billion in annual revenues. Things were good, but they could’ve been better. That’s why senior management contacted The Lab for this engagement.

This is a true story of how The Lab worked with this bank to reduce operating costs and boost sales uptime. And it reveals four quick-hit areas for improvement, based on that engagement.

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How to Increase Operational Efficiency in the Banking Sector

This is the story of a well-known global bank. They sought to “digitize” their mortgage operation.

You can guess what happened. The promised “digital assembly line” never delivered. While paper was eliminated, the same old, flawed work processes continued. They were simply shuttled around the organization on a fantastically expensive digital conveyor belt.

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Improvements from Start-to-Finish

Since opening its doors in 1993, The Lab has helped some of the best companies in the world become even better.