iSixSigma Homepage
Blogosphere Homepage
iSixSigma Live!
iSixSigma Publications

Free Weekly Newsletter


Your Privacy Matters
Newsletter Archives



BLOGGERS
 
Michael Marx's [303RSS Michael Marx's Biography SixSigmaCompanies.com
Gary P. Cox [106]  RSS  Gary P. Cox's Biography
Gianna Clark [93]  RSS  Gianna Clark's Biography
Michael Cyger [83]  RSS  Michael Cyger's Biography
Sue Kozlowski [75]  RSS  Sue Kozlowski's Biography
Robin Barnwell [57]  RSS  Robin Barnwell's Biography
Andrew Downard [39]  RSS  Andrew Downard's Biography
Stephen C. Crate [24]  RSS  Stephen C. Crate's Biography
Holly Hawkins [22]  RSS  Holly Hawkins's Biography
Sven Saerens [19]  RSS  Sven Saerens's Biography
Laura Gibbons [14]  RSS  Laura Gibbons's Biography
Charles McKinney [14]  RSS  Charles McKinney's Biography
J P Spencer [13]  RSS  J P Spencer's Biography
Capt. Harris [12]  RSS  Capt. Harris's Biography
Vincent Chin [10]  RSS  Vincent Chin's Biography
James Considine [9]  RSS  James Considine's Biography
Jessica Harper [4]  RSS  Jessica Harper's Biography


CATEGORIES
 
Book Review [3]  RSS
Buzz/Press [64]  RSS
Conferences [67]  RSS
General [318]  RSS
Government [22]  RSS
Guest Blog [12]  RSS
History [12]  RSS
Innovation [18]  RSS
Leadership [150]  RSS
Lean [33]  RSS
Management [166]  RSS
Methodology [158]  RSS
Military [9]  RSS
Podcasts [8]  RSS
Research [23]  RSS
The Cox-Box [105]  RSS


RECENT ENTRIES RSS
 
Sticky Solutions by Robin Barnwell
Job Description by Gary P. Cox
Best Places Finalists by Michael Marx
Let's Do an FMEA by Gary P. Cox
Bragging Rights by Jessica Harper
My journey towards Lean by Robin Barnwell


LATEST COMMENTS
 
Sticky Solutions
by : Jason
Sticky Solutions
by : James
 


CTQ MEDIA BLOGS
 
Sourcingmag Blogosphere

BPM Enterprise Blogosphere

RealInnovation Commentary
 


SIX SIGMA BLOGS
 
Today's Six Sigma

Lean Six Sigma Academy

Leadership & Business

Six Sigma for Corporate Real Estate

Keith Bower Podcasts
 


LEAN BLOGS
 
Lean Blog

Got Boondoggle?

Evolving Excellence

Reforming Project Management

Learning About Lean
 


BUSINESS BLOGS
 
shmula

Seth Godin's Blog

Decker Marketing

Guy Kawasaki

Fast Company Now
 


BLOG ARCHIVE RSS
 



RETIRED BLOGGERS
 
Zakir Ahamed

Kosta Chingas

Gary Cone

Brian Costello

Andrew Hillig

Rick Maher

W. Michael McBride

Lisa Moore
 


SigmaXL V5.3 Excel Add-In
Six Sigma Statistics & Graphics. Ideal for training. Now compatible with Excel 2007. Free Trial.
www.SigmaXL.com
 
Voice of the Customer
AMS can help you find out what your customers really want!
www.ams-inc.com
 
iSixSigma Live!
Summit & Awards, Miami, Jan 13-16, 2009. Save up to $700 with our pre-agenda rate, register by Aug. 14.
live.isixsigma.com
 
6s Projects and Presentations
Immediately purchase and download Six Sigma project examples, research and training tools.
store.isixsigma.com
 
6s Recruiting
We can help you staff your org, in weeks! Call us at 847-919-0922 x8857 to get started.
jobs.isixsigma.com/
 

23 February 2005 by Michael Marx
Printable version  |  Email to a friend

Bank of America - Hoshin Kanri & Six Sigma

Bank of America is one of the most prominent financial services company with a corporate-wide Six Sigma initiative, and they’re not afraid to talk about it. Their unique blend of Hoshin planning, Kanri management and Six Sigma separates them from the pack.

Bank of America began their Six Sigma journey in 2001 as a corporate initiative supported by CEO Ken Lewis. Their deployment model was a blend of external hiring and internal training.

"When the program was first introduced, some employees were skeptical. But resistance subsided, officials said, when Lewis and his top lieutenants earned green belts. Now Bank of America has certified about 3,000 green and black belts and has tallied $2 billion in either cost savings or added revenues." Miami Herald

Milton H. Jones, Chief Quality & Productivity Executive for Bank of America, said on October 26, 2004 at the International Society of Six Sigma Practitioners Symposium in Charlotte:

"Ken’s enthusiasm for quality and Six Sigma are infectious, so he didn’t need to talk me into taking the job. I share Ken’s belief that quality and Six Sigma are disciplines that are contributing to an ongoing revolution in American business.

"We now have more than 10,000 associates trained at different levels, as Black Belts, Green Belts, in DFSS, Lean and Champions.

For the last two years, we’ve even been requiring that our key vendors use Six Sigma methods, and we’re now making sure that they participate in our own Six Sigma training programs."

Project Examples
In 2004, American Banker featured several articles about Bank of America, most notable was a cover story detailing how Six Sigma helped Bank of America decrease robberies in the LA area.

"Seven months later it found that robberies and associated dollar losses were down 69% compared with those months a year earlier. Robberies in the FBI’s L.A. region in that period fell just 7%, Mr. Slaton said."

Below is a list of other projects and savings/revenue generation results.

$1.3 M Savings: Reduce Cost of Relocating New Hires
$5 M Revenue: Improve Lockbox Deposit Availability
$30 M Revenue/$1.5 M Savings: Measure Return on Sponsored Events
$7.8 M Revenue: Retain Customers Who Move Within Footprint
$950,000 Savings: Complete Federal Tax Return Faster
$6.6 M Loss Reduction: Reduce ID Theft Through “Account Takeover”
$2 M Revenue: Improve Results From New Sales Hires
$10.7 M Revenue: Improve Customer Referrals From Tellers
$3.6 M Revenue: Improve Credit Card Sales
Increase Customer Satisfaction: Online Banking Customers View Intraday Activity

Articles and Links

An excellent overview of Bank of America’s Six Sigma program can be found in the November 2003 e-Zsigma Newsletter. Joseph Valasquez of Bank of America was the Six Sigma Spotlight.

Quality Progress, February 2005, Driving Organic Growth at Bank of America. Excellent article by Daniel Cox and James Bossert. ASQ membership required to read.

Bank of America - FleetBoston Merger - 2003 Annual Report Supplement

Save, Share & Recommend This Blog
Digg It Digg It Del.icio.us Del.icio.us Reddit Reddit Google Google

Yahoo! Yahoo

StumbleUpon StumbleUpon
Financial Services , Fortune 500
posted by Michael Marx  at  10:45 PM ET | comments [1]


BLOG COMMENT

posted by  CheshireCat 14 March 2007 at 2:05 AM ET
Mexican banks refuse to accept Mexican issued Matricula Consular Cards, as a valid form of identification, but American banks do.

You must see the video.

http://www.alipac.us/modules.php?name=News&file=article&sid=2010&mode=&order=0&thold=0

See a list of American banks that accept the Matricula Cards as a form of ID.
http://www.bankofamericaboycott.com/

Join the boycott!

Don’t be the last American, with money in a bank that woes illegal aliens.

Ches
 

ADD COMMENT
(*) indicates required fields
author (*) :
email address :
url :
 
  bold italic underline add hyperlink add email hyperlink centre unorder list order list add image quote emoticon smiles
 
comment (*) :

max characters : 2100

characters remaining :
remember me :