Värdeflödesanalys på digitala processer i finansbranschen
(2022) MIOM05 20221Production Management
- Abstract
- Banks have a significant responsibility in counteracting money laundering and terrorist financing. Despite the comprehensive efforts in anti-money laundering activities, financial crimes are still commonplace and financial institutions have a contributing role. This involvement can be explained by banks making an active choice in participating for financial gains, but in many cases, banks are criminally exploited as a result of their ignorance. One source of this ignorance is the lack of oversight and knowledge of existing shortcomings in banks’ digital processes.
Value stream mapping (VSM) is a frequently used tool within production companies utilized to gain full knowledge of the processes. This tool has its roots in the Lean... (More) - Banks have a significant responsibility in counteracting money laundering and terrorist financing. Despite the comprehensive efforts in anti-money laundering activities, financial crimes are still commonplace and financial institutions have a contributing role. This involvement can be explained by banks making an active choice in participating for financial gains, but in many cases, banks are criminally exploited as a result of their ignorance. One source of this ignorance is the lack of oversight and knowledge of existing shortcomings in banks’ digital processes.
Value stream mapping (VSM) is a frequently used tool within production companies utilized to gain full knowledge of the processes. This tool has its roots in the Lean production philosophy, developed by Toyota to improve their operations.
This project aims to investigate the possibility of applying a traditional Lean tool on a predominantly digital company. Specifically, the project investigates whether VSM can be used to identify flaws in banks’ digital processes, especially within AML and Lean.
The aims of this project were reached by conducting a case study on a European bank where VSM was applied on several of its digital service processes. Because these processes touched upon sensitive AML aspects the bank and the specificities of the processes have been kept anonymous. Additionally, the main analysis in the project looks at the methodology and use of VSM, and not necessarily the specific results from VSM. Though, the analysis of the results of VSM was done through three perspectives, namely Lean, AML, and the GAP model.
The results from the VSM showed that in all processes flaws were identified, particularly clear were the AML flaws. The conclusion from the analysis of the methodology was that VSM is an effective tool in identifying flaws in digital processes and AML efforts. However, VSM was not that effective in identifying Lean flaws within digital processes. (Less) - Abstract (Swedish)
- Banker har ett stort ansvar att motverka penningtvätt och finansiering av terrorism. Trots det omfattande arbetet för att motverka penningtvätt, sker en stor andel ekonomiska brott där finansiella institut har en bidragande roll. Det kan bero på aktiva beslut hos banker för att bidra till ekonomisk vinning, men i många fall är det ett resultat av okunskap om hur företagen utnyttjas för kriminella ändamål. En orsak till denna okunskap är bristen på översyn och vetskap om existerande risker i bankers digitala processer.
För att få full processkännedom och hitta lösningar på de brister som existerar i en process är värdeflödesanalys (eng. Value Stream Mapping, VSM) ett frekvent använt verktyg inom tillverkningsindustrin. Detta verktyg... (More) - Banker har ett stort ansvar att motverka penningtvätt och finansiering av terrorism. Trots det omfattande arbetet för att motverka penningtvätt, sker en stor andel ekonomiska brott där finansiella institut har en bidragande roll. Det kan bero på aktiva beslut hos banker för att bidra till ekonomisk vinning, men i många fall är det ett resultat av okunskap om hur företagen utnyttjas för kriminella ändamål. En orsak till denna okunskap är bristen på översyn och vetskap om existerande risker i bankers digitala processer.
För att få full processkännedom och hitta lösningar på de brister som existerar i en process är värdeflödesanalys (eng. Value Stream Mapping, VSM) ett frekvent använt verktyg inom tillverkningsindustrin. Detta verktyg kommer från Lean-filosofin som utvecklades av Toyota för att förbättra deras verksamhet.
Detta projekt ämnar undersöka huruvida det är möjligt att applicera ett Lean-verktyg på ett övervägande digitalt företag. Mer specifikt kollar projektet på om VSM kan appliceras för att identifiera brister inom bankers digitala processer, speciellt brister inom AML och Lean.
Målet med projektet uppnåddes genom att bedriva en fallstudie på en europeisk bank där VSM applicerades på ett antal digitala serviceprocesser inom företaget. Eftersom processerna är känsliga ur framför allt ett AML-perspektiv har banken och dess processer anonymiserats genom detta projekt. Vidare berör analysen i projektet främst själva metodiken och användandet av VSM, snarare än resultaten från VSM på de specifika processerna. Den analys som faktiskt gjordes på VSM var ur tre olika perspektiv; Lean, AML,
och GAP-modellen.
Resultatet från värdeflödesanalysen var att i samtliga processer identifierades brister, som framför allt var tydliga ur AML-perspektivet. Slutsatsen från analysen av metodiken var att VSM kunde appliceras och användas för att identifiera brister på digitala processer och bankers AML-arbete. Dock var VSM inom digitala processer inte lika effektivt för att identifiera de klassiska Lean-bristerna. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9092230
- author
- Emilson, Mark LU and Ihre, Douglas LU
- supervisor
- organization
- alternative title
- Value stream mapping of digital processes in finance
- course
- MIOM05 20221
- year
- 2022
- type
- H2 - Master's Degree (Two Years)
- subject
- report number
- 22/5694
- language
- Swedish
- id
- 9092230
- date added to LUP
- 2022-07-04 16:55:55
- date last changed
- 2022-07-04 16:55:55
@misc{9092230,
abstract = {{Banks have a significant responsibility in counteracting money laundering and terrorist financing. Despite the comprehensive efforts in anti-money laundering activities, financial crimes are still commonplace and financial institutions have a contributing role. This involvement can be explained by banks making an active choice in participating for financial gains, but in many cases, banks are criminally exploited as a result of their ignorance. One source of this ignorance is the lack of oversight and knowledge of existing shortcomings in banks’ digital processes.
Value stream mapping (VSM) is a frequently used tool within production companies utilized to gain full knowledge of the processes. This tool has its roots in the Lean production philosophy, developed by Toyota to improve their operations.
This project aims to investigate the possibility of applying a traditional Lean tool on a predominantly digital company. Specifically, the project investigates whether VSM can be used to identify flaws in banks’ digital processes, especially within AML and Lean.
The aims of this project were reached by conducting a case study on a European bank where VSM was applied on several of its digital service processes. Because these processes touched upon sensitive AML aspects the bank and the specificities of the processes have been kept anonymous. Additionally, the main analysis in the project looks at the methodology and use of VSM, and not necessarily the specific results from VSM. Though, the analysis of the results of VSM was done through three perspectives, namely Lean, AML, and the GAP model.
The results from the VSM showed that in all processes flaws were identified, particularly clear were the AML flaws. The conclusion from the analysis of the methodology was that VSM is an effective tool in identifying flaws in digital processes and AML efforts. However, VSM was not that effective in identifying Lean flaws within digital processes.}},
author = {{Emilson, Mark and Ihre, Douglas}},
language = {{swe}},
note = {{Student Paper}},
title = {{Värdeflödesanalys på digitala processer i finansbranschen}},
year = {{2022}},
}