Banking: Asset Finance
The Challenge
The Asset Finance division of this leading global bank challenged Unipart Expert Practices (UEP) to review and develop a more efficient process that improved service levels to both customers and its sales force.
Significant results
Within two months of implementation;
- Quality (% right first time) had increased from 15% to 68%
- Productivity (items worked per person per day) had increased by between 9% and 45% across the three key processes
- Lead times had been reduced by 37% (from 4.5 days to 2.8 days) Significantly, in the first month of live implementation, the sales team exceeded budget by £45m, representing a 37% increase from planned budget as a direct result of improvements in quality, productivity and lead time reduction
- The performance improvements also enabled the client to be fully resourced for the anticipated growth. In fact, 22 full-time staff were released to support other areas of the business
- Employee morale improved significantly
- Across the unit, employee capability in Lean tools and techniques had increased significantly, and an internal Lean improvement team was developed to sustain and drive performance improvements
- Through creative problem solving activity, the team identified total payment arrears of £24.9 million (technical default), of which a further £2.1 million was identified as untargeted debt.
To read the case study in full please click here.
