'Most banks need to get a more updated view of what's happening inside their branches.' - Gene Kirby, former Chairman of the CBA
San Diego, CA (PRWEB) August 26, 2014
Kiran Analytics, a leader in intelligent branch transformation, announced today that its branch productivity studies used for workforce optimization has reached a new milestone. Driven by significant growth in branch transformation initiatives, Kiran Analytics just completed two major studies in the US and UK. This brings the total impact of branch transformation decision support to 14,000 branches within the past year. Results of the studies are helping seven large banks increase operational efficiency while improving sales and service effectiveness.
Kiran’s Branch Workforce Optimization Studies provides a detailed view of how retail branch staff are spending their time serving customers and provide valuable insights into sales, service, non-customer facing activities, customer arrivals and wait times, branch workflow, and staff utilization.
“Most banks have done branch productivity studies at some point in the past, but what they think is happening in their branches is probably very outdated,“ said Gene Kirby, Retail Banking Advisory Board member of Kiran Analytics and past Chairman of the Consumer Bankers Association. He added, “With the increasing use of alternative channels, changing customer demands, expanding operational/regulatory activities, and universal banker pilot programs, most banks would benefit from a more updated view of their branch transaction times and customer arrival patterns. Before you can make decisions about transforming your branch networks, you need an accurate view of where you're starting.”
“Just within the past year, we spent over 10,000 hours conducting branch productivity studies inside hundreds of branches of seven major retail banks. That amounts to observing about 25,000 customer sessions,” said Jim DeLapa, CEO of Kiran Analytics, Inc. “As a result, we learned that what the executives believed was happening on the ground is significantly different than what was really happening. It’s very exciting to see our customers uncover opportunities to increase sales and service capacity without increasing headcount.”
While Kiran Analytics’ branch productivity studies are primarily intended for workforce optimization (WFO) purposes, the results of the studies help other branch transformation initiatives progress, such as talent acquisition, learning and development, customer experience, product marketing, branch automation, branch design, and process improvement.
Kiran Analytics’ branch WFO studies are specifically designed for retail banks. Observations are conducted discretely with minimal impact to the staff and no disturbance to the customers. Proprietary data collection tools on tablet devices are used for statistical analysis.
About Kiran Analytics
Kiran Analytics drives intelligent branch transformation for retail banks through the application of predictive analytics, resulting in increased sales and service effectiveness, and reduced operational costs. Kiran’s solutions have been deployed in over 10,000 branches; helping forecast branch staff levels accurately, hire better people faster, and plan and schedule resources efficiently. For more information, visit kiran.com.