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Credit card account opening excellence using Six Sigma methodology

Credit card account opening excellence using Six Sigma methodology PurposeThis study expands the current knowledge of the Six Sigma approach in a period of time when there is little direct evidence of the need to improve the Credit Card Account Opening Process. This is an important but neglected area of focus in the Six Sigma literature. This study explores the extent to which process improvement practices are extended to the Credit Card Department.Design/methodology/approachA case study methodology is adopted in this study in order to facilitate an exploration of the implemented Six Sigma approach in the Credit Card Department of a leading commercial bank. The process improvement tool used is the DMAIC cycle. FindingsThe study results confirm that the Six Sigma approach improves the quality of the Credit Card Account Opening Process. So, the Six Sigma approach can account for a reduced number of keying-in errors resulting in better data accuracy and improved customer satisfaction.Research limitations/implicationsThe fact that, in this study, the authors, in an attempt to render the study results more feasible for data collection, have chosen to focus on the process of the New Accounts Unit of the Credit Card Department. Therefore, the authors have not taken into account the other units (e.g., Transaction Processing) of the same department.Practical implicationsThe results of this study will be useful in persuading bank management to evaluate and implement the Six Sigma approach. Hence this research will assist bank managers with replies to questions, such as: “What impact will Six Sigma have on process-centric improvement, such as the New Accounts Opening Process of a Credit Card Department?”Originality/valueWithin the literature on the Six Sigma practice, there is little research that focuses on the implementation of this particular toolset especially for Credit Card Departments. This indicates a gap in the field. A new contribution to bridging that gap comes from the analysis of the results for the Six Sigma concept, which addresses the New Accounts Opening Process. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Lean Six Sigma Emerald Publishing

Credit card account opening excellence using Six Sigma methodology

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References (82)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
2040-4166
DOI
10.1108/IJLSS-08-2015-0029
Publisher site
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Abstract

PurposeThis study expands the current knowledge of the Six Sigma approach in a period of time when there is little direct evidence of the need to improve the Credit Card Account Opening Process. This is an important but neglected area of focus in the Six Sigma literature. This study explores the extent to which process improvement practices are extended to the Credit Card Department.Design/methodology/approachA case study methodology is adopted in this study in order to facilitate an exploration of the implemented Six Sigma approach in the Credit Card Department of a leading commercial bank. The process improvement tool used is the DMAIC cycle. FindingsThe study results confirm that the Six Sigma approach improves the quality of the Credit Card Account Opening Process. So, the Six Sigma approach can account for a reduced number of keying-in errors resulting in better data accuracy and improved customer satisfaction.Research limitations/implicationsThe fact that, in this study, the authors, in an attempt to render the study results more feasible for data collection, have chosen to focus on the process of the New Accounts Unit of the Credit Card Department. Therefore, the authors have not taken into account the other units (e.g., Transaction Processing) of the same department.Practical implicationsThe results of this study will be useful in persuading bank management to evaluate and implement the Six Sigma approach. Hence this research will assist bank managers with replies to questions, such as: “What impact will Six Sigma have on process-centric improvement, such as the New Accounts Opening Process of a Credit Card Department?”Originality/valueWithin the literature on the Six Sigma practice, there is little research that focuses on the implementation of this particular toolset especially for Credit Card Departments. This indicates a gap in the field. A new contribution to bridging that gap comes from the analysis of the results for the Six Sigma concept, which addresses the New Accounts Opening Process.

Journal

International Journal of Lean Six Sigma – Emerald Publishing

Published: Aug 1, 2016

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