A Bank Quality Model

Article

Latzko, William J.; Davis, Timothy R.   (1993, ASQC)   Latzko Associates; North Bergen, NJ

Annual Quality Congress, Boston MA    Vol. 47    No. 0
QICID: 9936    May 1993    pp. 38-44
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Article Abstract

A bank holding company used the plan/do/study/act cycle to improve processes in its direct retail lending unit. This paper focused on the planning stage of the cycle. A key tool for planning is the quality measuring system (QMS), which creates a quality plan for improving a process. The QMS is a fast process that takes about 16 man-hours spread over two to four weeks. Its success requires commitment of the organization's executive, who should give the QMS team time to work without interruption and who should review and approve or disapprove the plan within a week of submission. The QMS begins with a systems analysis that sets its boundaries and then establishes a work-flow diagram of the process under analysis. A work-flow analysis identified five steps and 71 tasks from the point at which a customer requests credit to the repayment of the loan. Within each step, team members considered eight key quality deviations (such as time consuming paperwork) that interfered with quality. They developed methods to measure the effects of these deviations, using statistical process control and quality improvement process techniques. Finally, a quality plan suggested how to implement improvements to the process. Implementation of quality plans at this bank resulted in improvements like contacting dissatisfied customers and tracking loan structures.

Keywords

Continuous improvement (CI),Customer satisfaction (CS),Financial industry,Plan-Do-Check-Act (PDCA) cycle,Quality plan,Statistical process control (SPC)


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