Bank Deposits: A Black Belt Case Study

The Six Sigma Black Belt program has been a proven money maker for companies of all sorts and is able to assist any business with the definition, measurements, analysis, and overall improvement that is guaranteed to bring office efficiency and success at all levels.

As the Internet has become more popular and much more of a prevalent means for which companies can communicate with each other, the idea of being able to make transactions on line as jumped out to the forefront of the business world when it comes to finances. There are always errors when it comes to crunching numbers and the Six Sigma methods have proven to be successful at all levels of a business.

Black Belt would have been used and started out with online banking. The first step was to look into how any of the deposits were made. An online bank meant that there were no in-store branches for any of the customers and the deposits had to be made through the use of mailing through the USPS (United States Postal Service).There were savings made from the zero number of branches and these led to customers gaining high interest rates and some services for free - the customers benefited.

Customers started to benefit by having deposits and withdraws done more quickly and more efficiently and the work was almost always done overnight instead of having to go through the process of snail mail. It now takes less time to make a transaction and is more convenient for everyone involved.

While the Black Belt process started out successful, there were flaws that were noted - mainly in the data collection. These were flaws that were not identified at first, such as the process of reshipment was completely manual. These plans were not enforced on a daily basis and it lead to a breakdown. There were times that the deposit locations were not getting the deposits daily and other times when they would not be reshipped on an express service that night. The main problem was over a weekend, when deposits arriving on a Saturday were not being reshipped until a Monday night.

Problems were solved using the Black Belt method and it is now much quicker to get deposits registered while it can save your company millions of dollars. It just takes getting a deep commitment from your company to the Six Sigma plans and it can improve the speed of your business dramatically almost overnight.