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

Udo Milkau
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Udo Milkau: Chief Digital Officer of Transaction Banking, Germany

Journal of Payments Strategy & Systems, 2012, vol. 5, issue 4, 390-402

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.

Keywords: payments strategy; process maturity; quality management; performance improvement (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2012:v:5:i:4:p:390-402

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