Teller Transaction Cycle Time
This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring banking Teller Transaction Cycle Time. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Teller Transaction Cycle Time?
The average amount of time, measured in seconds, required for a customer to complete a transaction with a branch teller, from the time the transaction begins until the transaction is completed. Common transactions carried out by tellers include deposits, withdrawals, wire transfers and money orders.
Why should Teller Transaction Cycle Time be measured?
Teller Transaction Cycle Time measures the overall efficiency of the retail branch's teller staff, as well as the bank's front office transaction processing methods. Transactions processed by tellers are, generally speaking, simple and repetitive. Relatively long or inconsistent (from teller-to-teller, or branch-to-branch) transaction cycle times may be related to ineffective (or out of date) teller training programs, lack of on-the-job aids that tellers can use to consistently and correctly process their work, poorly tracked (or non-existent) performance metrics within the teller function, and/or reliance upon ineffective (i.e., misconfigured, error prone, outdated) technology to perform teller tasks. Extended transaction cycle times may negatively impact customer service levels, employee productivity and work quality (e.g., error rates, etc.) within retail branches.
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