Journal Detail

Journal 18 – Finance Factory

November 2006

In recent years there has been a growing recognition among financial institutions that many of the tasks undertaken within their middle- and back-offices are similar to what happens within a typical factory, namely repetitive processes for creating products, or in the case of financial services firms, services. The aim of this issue is to stimulate financial institutions to start thinking of their operations as factories and to see how they can learn from the best-in-class manufacturers to better manage their own manufacturing capabilities.

In recent years there has been a growing recognition among financial institutions that many of the tasks undertaken within their middle- and back-offices are similar to what happens within a typical factory, namely repetitive processes for creating products, or in the case of financial services firms, services. This recognition is very important, as it allows financial institutions to start thinking of their operations as factories and to see how they can learn from the best-in-class manufacturers to better manage their own manufacturing capabilities.

The aim of this issue of the Journal is to provide just this kind of access. We have received great contributions from experts in manufacturing management, from both within the industry and outside, advising on how to best manage a factory, with many articles focused specifically on finance factories. But, it is the contributions of the other industries that are of most benefit to our readers, allowing them to see how the best manufacturers in the world are managing their processes and how that knowledge can be applied to our industry. It is our hope that the financial services industry can one day become as efficient, if not more so, as its peers in manufacturing.

This issue of the Journal not only focuses on how to improve the management of operations, but it also allows the reader to get a better understanding of the steps needed to industrialize processes and operations and to create the finance factory of the future. We hope that you find the articles in this issue of the Journal useful and that they provide you with the necessary tools to create your own highly efficient finance factories.

jailer