Award-Winning Case Study: CIBC
Entry: Best Project Achievement in Business Enabling Processes
Canadian Imperial Bank of Commerce (CIBC) is a leading North American financial institution with annual revenues of over $3.7 billion. CIBC Retail Markets provides a full range of products and services to almost 11 million personal, business and wealth management clients served through 1,058 retail branches, over 3,780 ABMs and 24/7 through online and telephone banking services.
Through application of the Lean Six Sigma (LSS) methodology to its Debit Card Fraud Prevention processes over a 6 month period, CIBC achieved the following major improvements:
• End-to-end lead time from alert to completion reduced by over 80%
• Average losses per incident reduced by more than 45%
• Implemented changes to reduce debit card fraud losses by more than $7 million*
• Identified other opportunities for additional savings estimated at $10 million* as result of proposed technology enhancements
These exclusive Award-Winning Case Studies, representing the very best uses of Operational Excellence practise are taken from The Global Six Sigma Awards. The Awards took place in conjunction with the Global Lean Six Sigma and Business Improvement Summit, and quickly became the industry’s most prestigious program. The Business Transformation & Operational Excellence World Summit has since taken over the Awards - to learn more, and see if your organization is suitable to attend, please visit the official Business Transformation & Operational Excellence Awards website.
BTOES Insights is created in partnership with BTOES17, the largest-scale leadership level event in the Business Transformation & Operational Excellence industry. To learn more about BTOES17, click here.