Bank-Office Process Management in the Financial Services: A Simulation Approach Using a Model Generator

1994 ◽  
Vol 45 (12) ◽  
pp. 1363 ◽  
Author(s):  
M. N. Davies
Keyword(s):  
Financial Services ◽  
Process Management ◽  
Simulation Approach ◽  
Model Generator

Business Process Management and Six Sigma

2012 ◽  
pp. 74-89 ◽  
Author(s):  
Suresh Subramoniam ◽  
Venky Shankararaman ◽  
K. V. Krishnankutty ◽  
Ravi Chinta
Keyword(s):  
Business Process ◽  
Six Sigma ◽  
Financial Services ◽  
Business Process Management ◽  
Process Management ◽  
Incremental Improvement ◽  
Key Features ◽  
Six Sigma Methodology ◽  
Time Basis ◽  
Synergistic Relationship

In this chapter, the authors establish the existence of a synergistic relationship between two complementary methodologies, Business Process Management (BPM) and Six Sigma, through literature review and suggest methods to exploit the same. Six Sigma provides incremental improvement through its analytical abilities and is complemented by BPM which provides the data from the ongoing processes on a real time basis. The authors discuss two perspectives on how to synergize these methodologies. Firstly, achieve hybrid BPM-Six Sigma by substituting Improve and Manage steps of BPM with the DMAIC of Six Sigma methodology. Secondly, utilize Six Sigma methodology for analysis on data generated by BPM. The application of the integration of BPM and Six Sigma is presented through case studies from financial services companies. The authors also present the key features of BPM tools that can assist Six Sigma in every phase of its implementation.

Operational Process Management in the Financial Services Industry

2010 ◽  
pp. 1084-1105
Author(s):  
Diana Heckl ◽  
Jürgen Moormann
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
General Framework ◽  
Process Management ◽  
Dynamic Environment ◽  
Insurance Companies ◽  
Financial Services Industry ◽  
Operational Process ◽  
Production Processes ◽  
Services Industry

The financial services industry faces significant competitive pressures. Economic and political influences, incessant regulation, and fast changing markets make for a highly complex and dynamic environment. Thus, banks and insurance companies are forced to permanently improve their performance – raising process performance represents one of the biggest levers for success. This chapter analyses the challenges of operational process management for banks and insurance companies. The involvement of customers in service processes of financial institutions make these not as easy to manage as production processes. In response to these challenges, cornerstones for a general framework for operational management of service processes will be developed. The aim of this chapter is to present a framework for structuring service processes which allows combining influences by customers and an operational process management. The concept is based on the modularisation approach and will be demonstrated using a loan process as an example.

Automated Planning of Process Models

2011 ◽  
pp. 169-194 ◽  
Author(s):  
Bernd Heinrich ◽  
Mathias Klier ◽  
Steffen Zimmermann
Keyword(s):  
Business Process ◽  
Process Modeling ◽  
Financial Services ◽  
Business Process Management ◽  
Process Management ◽  
Automated Planning ◽  
Process Models ◽  
Control Structures ◽  
Manual Task ◽  
Novel Approach

Companies need to adapt their processes quickly in order to react to changing customer demands or new regulations, for example. Process models are an appropriate means to support process setup but currently the (re)design of process models is a time-consuming manual task. Semantic Business Process Management, in combination with planning approaches, can alleviate this drawback. This means that the workload of (manual) process modeling could be reduced by constructing models in an automated way. Since existing, traditional planning algorithms show drawbacks for the application in Semantic Business Process Management, we introduce a novel approach that is suitable especially for the Semantic-based Planning of process models. In this chapter, we focus on the semantic reasoning, which is necessary in order to construct control structures, such as decision nodes, which are vital elements of process models. We illustrate our approach by a running example taken from the financial services domain. Moreover, we demonstrate its applicability by a prototype and provide some insights into the evaluation of our approach.

scholarly journals Application of 'Process management' methodology in providing financial services of PE 'Post Serbia'

Tehnika ◽  
2014 ◽  
Vol 69 (6) ◽  
pp. 1051-1059 ◽  
Author(s):  
Momcilo Kujacic ◽  
Marija Unterberger ◽  
Dragana Sarac ◽  
Bojan Jovanovic
Keyword(s):  
Financial Services ◽  
Process Management

scholarly journals Toward a Business Process Owner Competency Framework

2017 ◽  
Vol 29 (1) ◽  
Author(s):  
Malcolm Garbutt ◽  
Alfred Rudman ◽  
Lisa Seymour
Keyword(s):  
Business Process ◽  
Financial Services ◽  
Business Process Management ◽  
Process Management ◽  
Recent Literature ◽  
Strategic Alignment ◽  
Competency Framework ◽  
Systemic Thinking ◽  
Organizational Goals ◽  
Theoretical Contribution

Process owners are vital to the establishment and functioning of process oriented organizations. However, there is a paucity of understanding regarding the tasks process owners should undertake and what competencies they require. In this study, sets of process owner competencies and process owner tasks emerged from interviews with executives from three financial services organizations in South Africa. The findings were compared to the BPTrends report “State of the Business Process Management Market 2016”. Common themes were identified and validated against recent literature. Based on the validated themes a business process owner competency framework was developed and discussed. The framework shows that business process owners require competencies in core business process management, strategic alignment, determining organizational goals, governance, documentation, training, and systemic thinking. The competencies and tasks identified provide a practical contribution to practitioners and recruiters in the field, while the framework adds a theoretical contribution to the field of business process management.

Operational Process Management in the Financial Services Industry

2010 ◽  
pp. 529-550 ◽  
Author(s):  
Diana Heckl ◽  
Jürgen Moormann
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
General Framework ◽  
Process Management ◽  
Dynamic Environment ◽  
Insurance Companies ◽  
Financial Services Industry ◽  
Operational Process ◽  
Production Processes ◽  
Services Industry

The financial services industry faces significant competitive pressures. Economic and political influences, incessant regulation, and fast changing markets make for a highly complex and dynamic environment. Thus, banks and insurance companies are forced to permanently improve their performance – raising process performance represents one of the biggest levers for success. This chapter analyses the challenges of operational process management for banks and insurance companies. The involvement of customers in service processes of financial institutions make these not as easy to manage as production processes. In response to these challenges, cornerstones for a general framework for operational management of service processes will be developed. The aim of this chapter is to present a framework for structuring service processes which allows combining influences by customers and an operational process management. The concept is based on the modularisation approach and will be demonstrated using a loan process as an example.

scholarly journals Studi Kasus Implementasi Service Oriented Architecture (SOA) di Credit Suisse

2013 ◽  
Vol 4 (2) ◽  
pp. 1267
Author(s):  
Sartika Kurniali
Keyword(s):  
Financial Services ◽  
Process Management ◽  
Service Oriented Architecture ◽  
Reference Data ◽  
Organizational Level ◽  
Successful Implementation ◽  
It Infrastructure ◽  
Management Commitment ◽  
Service Oriented ◽  
Integrated Architecture

Credit Suisse Group (CSG) is a leading company engaged in global financial services. At the end of 90s IT infrastructure complexity of Credit Suisse has reached a critical situation. The existing IT infrastructure is no longer able to support the required business functionality. This leads to the introduction of an integrated architecture based on Service-Oriented Architecture (SOA). The purpose of this study is to learn how Credit Suisse successfully implements SOA both on a technical and organizational level. Analyses were performed by processing factual and reference data acquired. From the research, the successful implementation is due to clarity of interface, clarity of process, management commitment, and solid technology. Their success does not come easily since they also face obstacles and conflicts on the implementation.

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