What are the best practices for reducing the cost of quality in banking processes?
Quality is not only a matter of customer satisfaction and reputation, but also a significant factor in the profitability and efficiency of banking processes. Poor quality can lead to errors, rework, waste, complaints, and regulatory fines, which all increase the cost of quality. On the other hand, investing in quality can reduce these costs and generate benefits such as higher customer loyalty, lower operational risks, and better performance. In this article, we will explore some of the best practices for reducing the cost of quality in banking processes.