Insights from The Lab

Lean Financial Services

Category: Lean Financial Services

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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Cost Cutting Strategies in Banks in Just Five Steps

This is the story of a major bank. You know their name, although we won’t mention it here. And this story concerns their Caribbean operations.

Scattered across all this geography was a retail branch network that the bank’s leadership knew could be better. They asked The Lab, “What are retail banks doing to control costs and improve efficiency?”

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Four Infamous Falsehoods About Operational Excellence in Financial Services

In this article, we’ll examine four persistent misperceptions—we call them “infamous falsehoods”—about operational excellence in financial services. They often contribute to bank-wide problems in the first place, such as needless downtime, duplicative work, and unnecessary over-service. Knowing about them can help you avoid them—or uncover them, if they’re already lurking within your bank.

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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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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.