Adoption of Six Sigma @ Bank of America

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2.  33 million consumer relationships
 3.4 million small business
 # 1 Consumer Bank
 5829 branches
 # 1 AT M B a n k i n g S y s t e m - 1 6 , 5 0 0 AT M s
 # 1 Online Bank
 # 1Small Business Bank
 2 nd l a rg e s t M a r k e t C a p i t a l i z a t i o n
 Serves more than 150 countries
 Acquisition with Merrill Ly n c h – w o r l d ’s largest wealth
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manager

3. Merger – Nations Bank of Charlotte, NC
Inorganic growth strategy
Problems with customers
Six Sigma Adoption
Gains from Six Sigma Certification
Cu ltu ral Tran sf o rmatio n 3

4. No core values
Time taken to
Not generating
display
enough sales
transactions
Failed to
Frequent
generate
breaking down of
customer
online system
satisfaction
High Response
cycle time
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5. Resistance of
Six Sigma
Focus on Errors in
acquiring more customer deliver
customers channels
Lower Low customer
efficiency delight scores
No proper
leadership 5
philosophy

6. Inorganic Strategy > large Customer
Knowledge Gap
Base >No retention & satisfaction
Lead to low delight scores & low
Standard Gap
quality of service
Communication
Promised but not delivered
Gap
Perception & Problems in AT M s , break down of
Interpretation Gap online system
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Promised Quality services,
Service Gap
satisfaction but not delievered.

7. Employees,
Customers
People
AT M s , O n l i n e
Banking System
Serving
Customers
Process Te c h n o l o g y 7

8. Organic Growth
Six Sigma
Strategy
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9.  Providing High Quality Service
 Enhancing satisfaction
 Retention of Customers
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10. Journey Begins
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11. Right Level of measurement
Accounting for variability
Right emphasis on quantitative vs. qualitative
Interpretation & management support for change
Reducing error or defects in services or products
Follow “ Breakthrough Strategy” 11

12. Breakthrough Strategy
Champions Master Belts Black Belts Green Belts
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13. Core Performance Business Leadership
Metrics approach Philosophy
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14. Gathering VOC &
CTQ
Benchmarking
Metrics for Sale
90% Customer
of services
Delight
Set Standards &
High Quality
Ta r g e t s – e a c h
Service
branch & employee
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15. Increasing &
Improving
Service
Reducing
Reduce errors response cycle
time
Operations & Computerized &
entire value Electronics
chain Channels 15

16. Recruited
Professionals
Adapt to
Prioritizing
Culture of
services
Quality
Imparted
Set up of Quality
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P r o c e s s Te a m s Training to
Employees

17. Help ed in Cu ltu ral Tran sf o rmatio n
Followed set of core values
Acquiring customers to Building long lasting
relationships
Significant Cost savings & Revenue Generation
Reduced Errors & long waiting queues
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Speed up Merger of BOA & Fleet

18.  Importance of accuracy in service industry
 2 1 s t C e n t u r y – E f f e c t i v e To o l
 A way to perfect organization – Management to Goodwill
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19. Improved
Sales Productivity
Performance
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