Establishing suitable process improvement methodologies for optimizing servicing operations in the banking industries

The banking industry plays a vital role in the safe-keeping and delivery of various financial transactions required by the customers. Servicing problems such as queues and other various forms of customer complaints are the major threats which limit the efficiency of service operations in the banking industry. In light of this, the aim of this paper is to propose suitable process improvement methodologies capable of alleviating these complaints in the banking industries. To achieve this, heuristic searching and benchmarking of suitable process improvement tools and other strategies from the literature desk was explored. The results of the heuristic benchmarking exercise revealed that 5Ys, Fishbone Diagram, Value Stream Mapping, Line Balancing, workshops/training, flexible and reconfigurable service operation systems, modular and flexible banking system layout and queueing theory model are the strategies capable of reducing or alleviating the common customer complaints that are rampant in the banking industry.