Category Archives: Sector: Financial Services

Anyone can be a ‘bank’

A current trend is banking-as-a-service (BaaS).  In simple terms,  operators have developed platforms that will enable themselves or others to set up online financial services.  There are four main types of operator; Legacy banks – these are established banks that … Continue reading

Posted in Chap 03 Processes and life cycles, Sector: Financial Services | Tagged | Leave a comment

People don’t want chatbot butlers, they want chatbot professionals

Interesting report from CBInsights into why some chatbots have failed (Facebook’s M, Microsoft’s Tay and Google’s Allo) and others are highly effective.  Just to remind you a chatbot is “a text- or voice-based interface that lets users execute certain actions … Continue reading

Posted in Chap 10 Workforce and technology, Sector: Financial Services, Sector: Public Services & Charities | Tagged , | Leave a comment

Understanding the need for upskilling and how to do it

This article on the strategy+business.com website goes into detail about the need for upskilling and how it should be undertaken.  i4.0 is going to make a large number of workers engaged in routine tasks redundant.  But at the same time, … Continue reading

Posted in Chap 11 Projects and crises, Sector: Financial Services, Sector: I.T. & ecommerce, Sector: Manufacturing | Tagged | Leave a comment

2,100,000 apps now available…

I’ve been writing about the use of apps and bots to manage service transactions for our new edition and found some interesting facts and figures: As of the end of 2018, Google Play, the world’s largest App Store, had more … Continue reading

Posted in Chap 08 Service Encounter, Sector: Entertainment & Sport, Sector: Financial Services, Sector: Hospitality & Tourism, Sector: Public Services & Charities, Sector: Retail, Sector: Transportation | Tagged , , , | Leave a comment

Using AI to detect crime – risks as well as benefits

Companies are using AI and machine learning to detect and prevent many different illicit activities: routine employee theft insider trading fraud money laundering child pornography terrorism. But there are issues associated with this, as this Oliver Wyman article explains.  Namely: … Continue reading

Posted in Chap 10 Workforce and technology, Sector: Financial Services, Sector: I.T. & ecommerce, Sector: Manufacturing, Sector: Transportation | Tagged , , | Leave a comment

Agile provides alternative career paths for frontline workers

Having recently written an Operations Insight about ING and blogged about agile teams, this blog from Paul McNamara emphasises an interesting outcome of this way of working. He argues that the most productive and talented frontline staff get promoted into … Continue reading

Posted in Chap 11 Projects and crises, Sector: Construction, Sector: Financial Services, Sector: I.T. & ecommerce | Tagged , | Leave a comment

Manage the customer experience through ‘episodes’

Interesting article from Bain & Co that explains how managing customer ‘episodes’ may be the best way for pharmaceutical companies to improve their performance.  Although it is aimed at pharma, it explains how this approach has already been successfully adopted … Continue reading

Posted in Chap 08 Service Encounter, Sector: Financial Services, Sector: Manufacturing, Sector: Retail | Tagged | Leave a comment

Operations Insight: ING – how a bank became agile

Banks are not normally though of as being very flexible or agile.  But Dutch bank ING  decided to transform the way in which it works and model itself on so-called agile organisations such as Spotify, Google, Netflix and Zappos.  The … Continue reading

Posted in Chap 11 Projects and crises, Chap 14 Innovation and C.I., Sector: Financial Services | Tagged , , , | Leave a comment

Lean six sigma applied to service operations

In our book (page 18) we argue that manufacturing and service operations are not so different, except for the the concept of “simultaneity/inseparability” i.e. direct delivery of the offer to the consumer.  Even so there is a danger that some … Continue reading

Posted in Chap 09 Quality, Sector: Entertainment & Sport, Sector: Financial Services, Sector: Hospitality & Tourism, Sector: Public Services & Charities, Sector: Retail | Tagged , , , , | Leave a comment

The digital transformation of how customers pay for things

Recent blogs have talked a lot about the digital transformation of production processes.  This blog focuses on customers and how they pay for goods and services.  Business Insider has a whole series of articles on this topic and I am … Continue reading

Posted in Chap 01 Introduction, Sector: Entertainment & Sport, Sector: Financial Services, Sector: Hospitality & Tourism, Sector: I.T. & ecommerce, Sector: Retail | Tagged , | Leave a comment