How is the TQM applied in the banking industries?

by Esi Baawah-Ansah
(Ghana)

When applying total quality management in the banking organisations, how do we go about to ensure that a perfect and accepted total quality control is attained?

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TQM
by: steve

In my bank the TQM is applied in various steps. There are total 8 steps in this process. In our bank we give priority to the customer complaints. And also the efficiency and the friendliness of the staff. We also dealt with the lost customer account details.

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Do you trust bank?
by: Phoebena M.

Do you trust bank?
by: Phoebena M.

Few U.S. consumers trust their banks anymore, suggest studies. The results are simple to see in recent customer confidence polls, suggests Bankrate. The question ?Do you trust your bank?? posed by banking consultants BAI & Finacle in their biannual Index of Financial institution Sentiment survey received negative replies from consumers. Not only that, but the survey confirms that bankers' assessment of customer confidence is entirely out of whack. I read this here: Consumers trust banks a great deal less than bankers think they do, personalmoneystore.com/moneyblog. Quality service in having more loyal bank consumers.

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TQM IN THE BANKING INDUSTRY
by: Henry Ligedere

I am in the non profit sector but this would be my expectations on TQM implementation in the banking industry
1. Efficiency
2. Timeliness
3. Accuracy
4. Honesty
5. Clarity on client reports and information
6. On line banking services

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my opinion
by: sharmi

Total quelity management is very importent to the banking industries ; because they working depend on customer satisfaction.

so the providing a good customer services through achieve there goals.for example quick withdrawel services,mobile banking,atm facilities,social relation ship ect...

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What is Black Belt
by: Anonymous

I finished course TQM, Six Sigma & LEAN.

But, still in doubt what is the main effects of having Master Black Belt and is it possible for student to achieve it, cause nowadays companies in Europe requring to have it, as a job position requirement.

Studnet of MSc in Business Performance Management

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TQM or Lean Six Sigma n Banking
by: Anonymous

TQM = Total Quality Management is a very early stages of Lean Six Sigma methodology, It is more tools focused.

My first advice is to focus on Lean Six Sigma methodology vs. TQM, there is more info on the tools, methods and processes than with TQM.

TQM or Lean Six Sigma are completely applicable in the banking Industry and would recommend reading Lean Six Sigma for Services by Michael George that covers the topic in banking well.

The Bank should be able to show a Value Stream Map with current state matrics in place, control charts on process stability, and a process capability of between 1.0 and 2.0 CP or higher.
Process Cycle Efficiency (PCE% should be 10% or higher.

Hope that helps

Steven Bonacorsi, Master Black Belt

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TQM
by: Mohamed Adel

The concept for TQM for any organization is :-
1- Customer Focus.
2- Customer Needs.
3- The Benefits.
4- increase income.
5- Reduce cost.
and so on , so the applied TQM in the banking is mandatory for customer satisfaction.

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Good article about TQM in Banking
by: Yassir

Here is a very good link about how TQM applied in the banking industries?

http://www.rtdonline.com/BMA/BSM/7.html

hope that help

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my experince as a customer
by: haifa

My background is in healthcare quality. so, i will answer the question from a customer to banking ponit of view.

1- customer satisfaction.

my needs as a customer are:

- fast& accessible services.
- respect & nice attitude from the representitive.
- customer friendly procedures either through using the bank telephone or internet.
- safe bank account.

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