ABSTRACT
Quick Loan Bank provides banking services to businesses and consumers, including loans of various types. It has identified auto loans as a service with significant growth potential. The bank would like to begin its effort in this area by focusing on used car auto loans, which represent a high level of activity in their region. These loans are typically set up by the car dealers, without much effort on the consumer’s part. These auto dealers shop for the best terms on loans when selling cars to consumers. In addition, they are also concerned with turnaround time of terms, approvals, and paperwork, as they would like to close a deal while the customer is still on the lot. Senior management of the bank felt that Lean management’s strong customer focus and emphasis on flow would help them achieve their goal of increased market share by simplifying the process and significantly reducing turnaround time.
