Professionals in banking, insurance and other financial services sectors may already be familiar with the effectiveness of Sologic’s Root Cause Analysis problem solving method.
Firms, professional bodies, and regulators alike, are strongly encouraging the financial services sector to employ effective RCA as way to substantially improve stakeholder experience. Sologic is a leading provider of root cause analysis skills to the financial services industry with training courses, methods and software all tailored to the specific needs of the sector.
So, what exactly is an effective RCA and what does it deliver? At its core, RCA is a process for identifying the causes of problems or events in order to prevent them from recurring. It is based on the idea that effective management requires more than putting out fires for problems that develop but finding a way to prevent them. RCA can also be employed as a means of identifying best practice, supporting continual improvement and rewarding evidence-based decision making.
The methodology assists banking, insurance and investment professionals with:
- Identifying underlying causes of significant problems or successes
- Delivering solutions with immediate and lasting impact
- Opportunities to overcome increased complexity
- Compliance with the expectations and guidelines of regulators
- Reducing complaints and building a better reputation and experience for customers
- Opportunities to improve weak or failing systems
- Automated reports for improved transparency and compliance
- Creating a competitive edge for winning new business
Sologic is the global leader in providing root cause analysis training, skills development and software to the financial services industry. Our evidence-based method enables firms to discover the genuine systemic and non-systemic causes of failure and understand where they can focus their continual improvement efforts.