Teller Transaction Cycle Time

Teller Transaction Cycle Time

KPI Details

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or inconsistent (from teller-to-teller, or branch-to-branch) transaction cycle times may be related to ineffective (or out of date) teller training programs, lack of on-the-job aids that tellers can use to consistently and correctly process their work, poorly tracked (or non-existent) performance metrics within the teller function, and/or reliance upon ineffective (i.e., misconfigured, error prone, outdated) technology to perform teller tasks.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.

KPI Definition

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.

KPI Calculation Instructions Teller Transaction Cycle Time?

Two values are used to calculate this KPI: (1) the total amount of time that tellers spend performing transactions within the retail branch, and (2) the number of transactions completed within the branch(es) over the same period of time. Transactions types counted in this calculation should include any task that can be completed by a teller - deposits, withdrawals, money orders, cashiers checks, wire transfers and account balance inquiries are typically the most common, high volume teller transactions. Tasks that require assistance from a non-teller branch employee, such as account opening/closing, loan servicing, and credit card issuance, should not be included in this calculation. The time required to complete a single transaction should be counted from the time that the teller begins interacting with the customer, until the transaction has been successfully completed.

KPI Formula :

Amount of Time Spent Performing Teller Transactions / Number of Teller Transactions Completed