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Payments and card processing specialists Savantor launch new Lean operations partnership with OEE

Savantor, an established leader in the payment and card processing market, has launched a unique new partnership with OEE, one of the leaders in Operations Improvement consultancy in UK financial services. The partnership has launched a new solution ‘Excellence in Operations Management’ that will bring the benefits of Lean operations approaches from manufacturing, and other service sectors, into banking and financial services.

The new Savantor-OEE solution audits an organisations operations utilising specialised ‘dashboards’ and extensive benchmarking data to confirm prime areas for operational improvement. It then deploys a fast track approach to deliver significant operational performance improvements.

Doug Tuson, Executive Director, Savantor, said: “Benchmarking data reveals that many banks and financial services organisations are still behind the best manufacturing and services companies and could improve operational performance in large parts of their businesses by in excess of 20%. Waste in operations also remains an issue in financial services with the cost of rework running at up to 40%. At the same time, according to JD Power, even the best retail banks presently lag behind the weakest performing car companies for customer satisfaction, which has significant operational implications.

“The pan-industry skills and experience from OEE in operational improvement, together with the unique experience and expertise in the payments area offered by Savantor, make this an offering not seen elsewhere and something that we believe will be of great interest given the present significant business pressures within the industry. Banks and financial services organisations will be enabled to work smarter, more efficiently and more responsively with ‘best in class’ front and back offices optimised to address the key business challenges and evolving customer needs.”