Fifth Third chooses Kiran Analytics for Workforce Optimization
Advanced analytics driven solutions improve efficiency and customer experience
San Diego, CA – December 06, 2016 – Kiran Analytics Inc., a leader in intelligent branch transformation for retail banks, announced today that Cincinnati-based Fifth Third Bank licensed its workforce optimization solutions.
Kiran Analytics offers innovative workforce planning, talent acquisition and labor scheduling solutions driven by predictive analytics. The solutions will help Fifth Third Bank improve customer experience, operational efficiency, and sales effectiveness in its 1,295 full-service banking centers. Using Kiran’s workforce optimization solutions, Fifth Third will be able to make better and faster decisions as it aligns branch staffing with customer experience and market opportunities, while achieving target service levels.
“Our aim is to provide a seamless, integrated experience to help our customers do business where, when and how they want,” said Mike Butera, Head of Retail Banking at Fifth Third Bank. He added, “As customer preferences and technology continue to impact our service delivery, our banking centers are still important to our omni-channel strategy. So, we are committed to evolving our branch network and transforming our branch workforce because they are critical to delivering a superior customer experience. We conducted a comprehensive review of workforce optimization solutions. With their advanced analytics capabilities, best-in-class software and services, and deep banking expertise, Kiran Analytics met our requirements better than the alternatives.”
Kiran Analytics in-branch observations combined with advanced modeling and analytics capabilities enable analysis of customer arrival patterns, service times, wait times and staff utilization. As a result, customer banks are able to get an accurate picture of how customer arrival patterns are changing, how various staff roles in the branch operate and how arrival patterns and staff availability impacts customer service times and wait times. Equipped with these information and its Forecaster software, Kiran Analytics develops customized models that recommend optimized staffing levels for all positions in each branch in the network. These FTE requirements then enable branch managers to create and manage weekly staff schedules for their branches using Kiran’s Scheduler software.
“The branch is still the primary channel where sales and referrals originate,” said Jim DeLapa, CEO of Kiran Analytics. “Banks like Fifth Third are keenly aware of the role their branch staff plays in delivering exceptional customer experience and in deepening customer relationships. As Fifth Third Bank intelligently transforms their branch channel, we are delighted to be their workforce optimization solution partner.”
Powered by innovative predictive analytics technology, Kiran Analytics has been enabling significant operational efficiency improvements for retail banks. Customers utilize Kiran’s in-branch observation studies, advanced analytics, predictive models, and scheduling software to optimize their workforce which ultimately improves customer experience and operational excellence.
Kiran’s products, Forecaster, Scheduler, and Recruiter, are powered by CloudCords, Kiran’s proprietary private cloud environment and offered as a Software-as-a-Service (SaaS) for retail banks.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of September 30, 2016, the Company had $143 billion in assets and operates 1,191 full-service Banking Centers, including 94 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,497 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third also has an 18.3% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2016, had $314 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at http://www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC, Equal Housing Lender.
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 15,000 branches; helping hire better people faster, forecast branch staff levels accurately, plan and schedule resources efficiently. Kiran Analytics is a member of Bank Administration Institute (BAI), Consumer Bankers Association (CBA), and British Bankers Association (BBA). More information is available at http://www.kiran.com.