Insights from The Lab

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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Cost Cutting in the Banking Sector: Four Milestones in Six Months

This story took place at one of the largest consumer banks in the United States. With nearly 1,500 branches, 24,000 employees, and $175 billion in assets, they sought to cut costs and improve the efficiency of their retail branch network. They wanted to cut operational costs and improve efficiency and effectiveness in their back-office support groups. And they wanted to improve the overall customer experience in the process. It was a tall order.

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A Three-Pronged Approach to Improving Operational Efficiency in the Banking Sector

If you’ve been following these articles, you’ll know that our last one was an in-depth case study which followed the trials of a well-known U.S. consumer bank. They’d grappled with cutting costs in their back-office operations. In this article, we’re going to take an under-appreciated approach to improving a bank’s productivity: tapping into the wasted …

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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.