(2008), "Taking lean to the bank", International Journal of Productivity and Performance Management, Vol. 57 No. 4. https://doi.org/10.1108/ijppm.2008.07957dab.005
Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited
Taking lean to the bank
Article Type: News From: International Journal of Productivity and Performance Management, Volume 57, Issue 4.
We tend to associate “lean thinking” with the manufacturing sector. However, it is much more widely applicable. Take the case of Israel Discount Bank (TASE: DSCT) which plans to switch to “lean banking” at all its branches over four years beginning in 2008, according to management’s strategic discussions led by chairman Shlomo Zohar and CEO Giora Ofer.
Discount Bank plans to apply the lean banking model at ten branches in 2008, 80 branches during 2009-2010, and complete the conversion in 2011. Professor Boaz Ronen, who conducted the feasibility study for the bank, said that the switch to lean banking will improve the bank’s efficiency, increase its productivity, and boost its value by 30-40 per cent.