Statistical controls and zero-defects were originally pioneered by W. Edward Deming at the close of World War II - nobody in America would listen to the professor, however the Japanese were eager learners of Deming's methodology, and after their huge success beating the world with what was previously an academic pursuit, they spread the word and the world listened.

Fast forward to Motorola, then on to AlliedSignal and then to GE under Jack Welch where these methods finally evolved and became Six Sigma, it has found legions of new converts in myriad business sectors.

What started out as a manufacturing excellence methodology for an industrial economy, soon spread to services including and especially financial services.

Because many financial service organizations have never analyzed their processes, they are ripe with potential for process improvement.

Six Sigma’s wider applicability was first glimpsed at GE. The company understood that Six Sigma techniques could be applied to any process that resulted in defects, whether they be faulty products, financial transactions or business processes. With this knowledge, GE soon expanded Six Sigma to its service businesses, GE Financial.

Analyzing and modifying employee interaction and performance is complex. Nevertheless, task-oriented service organizations including mortgage lenders, retail banks, commercial banks and all manner of financial services organizations have discovered that Six Sigma brings a process focus to their operations.

Customers expect faster and easier service at every point of contact--and if they don’t get it, they go elsewhere.

By using Six Sigma’s define-measure-analyze-improve-control process, leading financial services organizations have worked to reach the methodology’s aim of near error-free performance. Moreover, this goal is relevant to all processes, from handling customers’ money, to processing payments, to sending out bills, to closing a loan, to answering the phone.