Insights from The Lab

Knowledge Work Industrialization

Category : Knowledge Work Industrialization


A Lean Banking Case Study in Mortgage Operations Transformation

If you’re seeking to achieve lean management and operations in banking, some of the biggest opportunities can be hiding in plain sight. That’s what happened in this real-world case study.

The bank in question dominates the southern U.S. The areas of concern were their mortgage servicing and default management. While this bank services more than 2 million mortgages across 48 states, they sought to employ lean principles to rapidly improve operations and manage growth, especially in the southeast—their largest market. Enter The Lab.

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The CFO: Industrial Engineer of Knowledge Work

“Our business is unique, so our knowledge work can’t be standardized.”

This belief is almost universally accepted—but almost universally untrue. I call it the “anti-standardization bias.” It reinforces the status quo and hides the business improvement opportunity of our time: the standardization of knowledge work.

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Five Essential Process Improvement Ideas in Banking

This article is about making essential process improvements throughout a bank’s marketing services operation. It’s full of valuable takeaways, so let’s dive in.

This is the story of a huge (80,000 employees serving 25 million customers) Canada-based bank. Their marketing arm, serving both the U.S. and Canada, was struggling to increase both its productivity and agility. Thus their wish-list, when they reached out to The Lab, was extensive. Fortunately, The Lab was equal to the task.

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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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