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A Six Sigma type of quality management in international and high-value payments

Author

Listed:
  • Milkau, Udo

    (Chief Digital Officer of Transaction Banking, Germany)

Abstract

International and high-value payments typically show higher non-STP rates than high-volume (retail) payments. Methods of quantitative quality management can be used to improve process maturity, increase STP rates and reduce costs. By combining the benefits of outsourcing (resulting in processes with high maturity, defined SLAs, and reported quality performance indicators) with a ‘Six Sigma’ type approach, measured non-STP rates can be reduced significantly. Based on a long-term time series of ‘non-STP’ performance data, the results and economic benefits of such a combined approach will be shown and advantages and requirements will be discussed.

Suggested Citation

  • Milkau, Udo, 2012. "A Six Sigma type of quality management in international and high-value payments," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 5(4), pages 390-402, January.
    • Handle: RePEc:aza:jpss00:y:2012:v:5:i:4:p:390-402
    as

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    More about this item

    Keywords

    payments strategy; process maturity; quality management; performance improvement;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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