First Tennessee Chooses Kiran Analytics Optimization Platform
Workforce solution provides better customer experience, improves branch productivity
San Diego, CA – June 28, 2016 – Kiran Analytics Inc., a leader in intelligent branch transformation for retail banks, announced today that Memphis-based First Tennessee Bank licensed its workforce optimization platform.
Kiran Analytics offers innovative workforce planning, talent acquisition and labor scheduling solutions driven by predictive analytics. The solution will help First Tennessee Bank improve customer experience, revenue growth and operational expense in its 180-branch network. Using Kiran’s workforce optimization software, First Tennessee will be able to make better and faster decisions about properly staffing the branches and achieving target service levels at the same time.
“Our mission is to be the best at serving our customers and the best bank to work for. We are transforming our branches and workforce to provide a differentiated customer experience,” said Dave Miller, EVP of Consumer Banking at First Tennessee. “As customer interactions with our bank evolve, it is absolutely critical to make our branch staffing decisions based on sound analytics rather than instincts. We performed an extensive review of workforce optimization solutions and found that our business and technical requirements were best addressed by Kiran Analytics. They distinguished themselves with a complete set of software and services, powerful analytics capabilities, and banking expertise that will help us improve customer experience and productivity in our branch network.”
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.
“Clearly the number of consumer interactions with retail banks are increasing in digital channels and decreasing in the branches.” said Jim DeLapa, CEO of Kiran Analytics. “However, the branch is still the primary channel where sales and referrals originate. That’s why branch workforce optimization is a critical branch transformation priority for retail banks. As First Tennessee transforms their branches from a transactions focused to a sales- and service-oriented customer interaction channel, we are delighted to be their analytics partner to help accelerate the process with workforce optimization.”
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 and 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 and offered as a Software-as-a-Service (SaaS) for retail banks.
About First Tennessee
First Tennessee Bank is the largest bank headquartered in Tennessee, with the number one deposit market share in Chattanooga, Knoxville, Memphis and the Tri-Cities and a top-five deposit market share in Nashville. The FTB Advisors wealth management group has 313 financial advisors and $25 billion in assets under administration. First Tennessee was founded during the Civil War in 1864 and has the 14th oldest national bank charter in the country and one of the highest customer retention rates of any bank in the country. First Tennessee, FTN Financial and FTB Advisors are part of First Horizon National Corp. (NYSE: FHN), which has 4,300 employees. First Horizon has been recognized as one of the nation’s best employers by Forbes, Working Mother and American Banker magazines. More information is available at www.FirstTennessee.com.
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 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 www.kiran.com.