Pros Say Corporate "Cholesterol" Levels High

According to Exigen Group, a banking technology company, banking professionals have more to stress about than their own personnel cholesterol levels - they also face "corporate cholesterol."The term refers to business process inefficiencies, and a survey done for Exigen found that nine out of ten banking people (89 percent) think their banks are infected. The survey is based on a poll of 423 banking professionals, who attended one of two recent banking conferences.

Those professionals said the most common symptom of the ailment is that multiple internal contacts are required to answer one customer information status call - 34 percent of respondents said their organizations suffer from that disadvantage. Other symptoms include the inability of junior staff to follow processes as quickly as experienced employees (33 percent) and uneven workload distribution (36 percent).

Almost half of the respondents also said that corporate cholesterol directly impacts operational performance by increasing staff frustration and 32 percent said that inefficiencies result in reduced productivity.

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 2, 4/05