Title: Applying lean practices in retail lending sector of a bank in Trinidad and Tobago: a case study

Authors: Kuldeep Ojha; Shireen Deen

Addresses: Department of Mechanical and Manufacturing Engineering, The University of the West Indies, St. Augustine, Trinidad and Tobago ' Department of Mechanical and Manufacturing Engineering, The University of the West Indies, St. Augustine, Trinidad and Tobago

Abstract: This study aimed to explore how the application of lean practices on the loan approval process could impacts the lending unit of 'Bank X'. The research method was qualitative to acquire different perspectives on the loan approval process of chosen bank. Further to this, direct observation of the loan approval process was carried out. Lean tools were used to identify the non-value adding activities that contributed to lengthened loan approval times and improvement strategies were suggested to help create a lean lending process. The main contribution of this study is the understanding of the causes of delays in the loan approval process, the most significant of which were the wastes; over-processing, errors, inventory, transportation and motion. The application of the improvement strategies towards a lean lending process, if properly implemented would optimise the overall loan process of the bank.

Keywords: lean practices; waste; value-adding activities; customer; loan; process improvement; Trinidad and Tobago.

DOI: 10.1504/IJSOM.2024.136799

International Journal of Services and Operations Management, 2024 Vol.47 No.2, pp.211 - 235

Received: 23 Jun 2021
Accepted: 13 Nov 2021
Published online: 22 Feb 2024 *

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