This Leading UK bank had a mortgage process that took over 26 days from initial enquiry to decision. This process also had high degrees of complexity, inflated costs and poor customer feedback.

The poor performance in efficiency and effectiveness impacted the banks revenues and its ability to grow its capital loans volumes. Internal complexity and inventories contributed to excessive lead times and costs, magnifying the pressure it was under from both customers and investors.

We were engaged to support the Bank in reducing the mortgage application lead times and to improve the cost and service it provided to their customers. Through the application of core lean principles, we were able to reduce the Mortgage application process to less than 5 days with decisions being made same day. This had a significant impact on the process cost structure and the costs were reduced by over 60%.