Introduction of lean technology in Russian commercial banks as a tool to increase the financial stability
Importance The article addresses one of the most efficient and advanced management techniques introduced nowadays in Russian commercial banks, i.e. lean technologies. They focus on consistent identification and elimination of losses and tailoring the operation processes to customer needs. Objectives The study aims to review the principles of lean management, identify advantages and difficulties when introducing lean programs by domestic credit organizations, define major opportunities and prospects for the lean program introduction in the Russian banking sector. Methods I employ economic, statistical and graph methods to reveal the potential of increasing the efficiency of operations of Russian credit organizations through the lean technology introduction. Results Sberbank of Russia, Alfa-Bank, Home Credit Bank were pioneers in using the lean technologies. They could increase labor productivity by 20-50% and achieve considerable cash savings. On the case study of Russian Agricultural bank Branch in Volgograd, I calculate the aggregate effect of economies of the lean technology introduction. Conclusions Lean technologies will enable Russian banks to increase sales of available bank products using the same number of personnel, and without sacrificing customer service quality, to organize sales of new banking products without involving additional personnel, to introduce new, customer-oriented banking products at minimum expense and maximum competitive edge.