Credentials
Getting a loan? Quickly? Yes, it is possible!

PROJECT AT LARGE BANK

 

Challenge

  • Car loan sales close to 0 despite strong market position, really good product features, and competitive pricing.
  • Good product + very bad process = high commission costs.

Solution

  • Walk through the process and observe at GEMBA.
  • Value Stream Mapping to identify the bottlenecks focusing on building team engagement.
  • Process redesign to truly meet customer needs.
    • Radical simplification of loan application (~45% of fields), incl. persuading the Risk Department to work with less data but of much better quality.
    • Significant process improvement achieved together with product owner and process participants
    • Time to Yes for 75% of Customers in 30 minutes.
    • Time to Cash for 75% of Customers in 30 minutes.

Results

  • STABLE TOP 10 IN THE CAR LOAN MARKET (INCLUDING THE AUTOMOTIVE BANKS!)
  • >20% AVERAGE OMMISSION COSTS DECREASE
  • CAR SELLERS STARTED QUEUING TO SELL BANK CAR LOANS
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