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Kiran Analytics Adds New Scheduler to Workforce Optimization Suite

New workforce optimization software helps retail banks achieve target customer service levels while increasing operational efficiency.

San Diego, CA – November 11, 2014. Kiran Analytics – a leader in intelligent branch transformation – announced today that it launched its new Scheduler software that seamlessly integrates with its Forecaster software to provide the most comprehensive workforce optimization solution for large retail banks.

Kiran’s Scheduler enables branch managers to optimize allocation of all branch staff according to the forecasted customer traffic pattern and work content. An optimized branch workforce helps achieve target service levels while avoiding overstaffed or understaffed periods.

Jim DeLapa, CEO of Kiran Analytics, said “We are very excited about the release of our new labor scheduling software. Retail banks need the ability to closely match the planned resources with the actual FTEs in each branch in their network. Branch managers need easy-to-use shift planning tools to manage staff schedules while addressing the impact of preferred work times, vacations, PTO, etc. Our new Scheduler software helps meet the critical workforce optimization challenge to create optimal schedules that achieve target service levels, address staff preferences, and minimize labor costs.”

With Scheduler, branch managers can quickly optimize schedules, visualize impacts, and play with what-ifs for shift plans for all branch staff on their rosters. Branch level access to Kiran’s Scheduler software improves collaboration between central resource planning and branch management. Ability for branch managers to easily distribute schedules to employees fosters collaboration.

DeLapa added, “Branch managers play the most critical role in optimizing branch productivity. One of our key design principles for Scheduler was making the branch manager’s job easy to plan and schedule shifts. In the midst of new branch transformation initiatives, branch managers are faced with new workforce optimization challenges like pooled resources that work at multiple branches, changing the full-time part-time staffing mix, and universal banker implementation. Our Scheduler simplifies the branch manager’s job.”

Kiran’s new Scheduler powered by CloudCords® is offered as a Software-as-a-Service (SaaS) for retail banks.

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. Kiran Analytics is a member of Bank Administration Institute (BAI) and Consumer Bankers Association (CBA).

Kiran Analytics to Showcase Branch Transformation Solution at BAI Retail Delivery 2014

Kiran Analytics will demonstrate predictive analytics driven solution at Innovation Showcase. 

San Diego, CA – October 8, 2014 – Kiran Analytics – a leader in intelligent branch transformation – announced today that it will showcase its new workforce optimization solution at BAI Retail Delivery 2014 Conference, the premier event of the retail banking industry to be held in Chicago on November 12-14th. Attendees of the Innovation Showcase will see how Kiran’s predictive analytics-driven solution is propelling branch transformation for leading retail banks.

Each year, BAI Retail Delivery brings together the most influential group of financial services leaders in the industry, showcasing emerging technologies and innovative products, services, practices and processes that enable banks to support customers worldwide.

Jim DeLapa, CEO of Kiran Analytics said, “We are excited about showcasing our new workforce optimization suite at BAI Retail Delivery.” He added, “As retail banks transform their branches from transaction oriented to sales and service oriented engines, they rely more and more on innovative predictive analytics solutions for decision making. We look forward to demonstrating how our unique features such as universal banker position optimization, constrained service level modeling, and roster analytics driven scheduling increase sales and service effectiveness as well as operational efficiency.”

In addition to its technology demonstration in the Innovation Showcase, Kiran executives and Retail Banking Advisory Board members will hold executive interaction meetings to discuss their branch transformation insights related to strategic workforce planning, talent analytics, forecasting and scheduling. Participants of the Kiran Analytics Business Executive Interaction Meetings will have the opportunity to meet with Kiran’s thought leaders and advisors.

The executive interaction meetings will be led by Betty Cowell, former Vice-Chair of BAI, in Meeting Room # 3452 in the Expo Hall.

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. Kiran Analytics is a member of Bank Administration Institute (BAI) and Consumer Bankers Association (CBA).

About BAI

BAI is the financial services industry’s resource for breakthrough information and intelligence needed to innovate and stay relevant in an evolving marketplace. For more than 85 years, BAI has provided the industry with unbiased and objective education and research. BAI’s offerings are as diverse as the industry, and include premier events such as BAI Retail Delivery Conference & Expo, groundbreaking research, professional learning and development programs, and in-depth editorial coverage through BAI Banking Strategies. For more information, visit http://www.bai.org.

BAI is Bank Administration Institute and BAI Center.

Kiran Analytics Reaches Major Milestone With Branch Productivity Studies

Milestone extends branch transformation decision support to over 14,000 retail bank branches 

Branch-Activity

Kiran’s Branch Workforce Optimization Studies are helping banks get a detailed view of what’s happening inside their branches

San Diego, CA – August 27, 2014 – Kiran Analytics, a leader in intelligent branch transformation, announced today that its branch productivity studies used for workforce optimization have 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 provide 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.

Kiran Analytics Opens Office in UK and Launches European Presence

Predictive analytics leader gets closer to UK retail banking customers to better support growth

San Diego, CA – August 1, 2014 – Kiran Analytics, Inc, the San Diego-based leader in intelligent branch transformation –announced today that it has expanded its international presence with the opening of an office in London.

“Retail banks in the UK are investing significant effort in improving their branch networks and optimizing their staff so they can meet changing customer demand,” said Jim DeLapa, the CEO of Kiran Analytics. He added, “We are very excited about the growth of our business in the UK. Strong demand in the UK and growth of our global client base drove our decision to open our London office.”

This global expansion will allow Kiran Analytics to support its customers better in the UK with Branch Workforce Optimization studies and software implementations. Kiran’s products and services in the UK will ultimately impact branch transformation initiatives in over 4,000 retail bank branches from five brands.

DeLapa added, “London is a global financial services center. Investing in Europe by opening an office in London does two things for us. First of all, it enables us to be more responsive to our customers in the UK. Secondly, it positions us to seize the growth opportunity in the European market.”

Powered by innovative predictive analytics technology, Kiran Analytics has been enabling significant operational efficiency improvements for large retail banks in the US. Banks utilize Kiran’s advanced analytics and predictive models to make better decisions about branch staffing. Kiran’s solutions include strategic capacity planning, talent acquisition, tactical labor forecasting, and scheduling.

Rohit Mulgund, Director of Client Services, said, “With our Software as a Service (SaaS) delivery and local resources to conduct our Branch Workforce Optimization studies, we are committed to delivering the same quality of service for our customers in the UK as we do for our customers in the US.”

The Kiran Analytics London office is located at 15 Pages Walk, London SE1 4SB.

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 them to accurately forecast branch staff levels, hire better people faster, and efficiently plan and schedule resources. For more information, visit kiran.com.

Kiran Analytics Launches Forecaster 2.0 for Branch Workforce Optimization and Platform Staff Forecasting

New predictive analytics solution features innovative transaction and resource forecasting capabilities that improve forecasting accuracy and generate significant ROI.

San Diego, CA – June 10, 2014 – Kiran Analytics–a leader in intelligent branch transformation–announced today the release of Forecaster 2.0 powered by CloudCords®, a predictive analytics solution that helps optimize branch staff levels including platform forecasting.

“Most staffing models do not accurately capture channel migration, so they are continuously playing catch-up in an environment of reduced branch transactions,” said Jim DeLapa, CEO of Kiran Analytics. “Use of outdated forecasting methods and tools results in either overstaffing or understaffing. The impact of over-forecasting staff is increased operational expenses. The impact of under-forecasting is longer wait times, poor customer service, and lost sales opportunities.”

Forecaster 2.0 software uses Kiran’s proprietary, hierarchical transaction forecasting methodology that takes into account the changing needs of customers who come into the branch. Forecaster 2.0 models long term trends and seasonality at the product group level, for each branch. This technique vastly outperforms traditional time-series methods, especially when the volumes of activities are low–as they often are on the platform side of retail banks.

Another major feature of Forecaster 2.0 is the ability to optimize branch staffing for universal bankers and new branch formats. “Retail banks are transforming their branch staffing models and branch formats. They are deploying ‘universal’ staff to handle transactions, service, and sales activities. They are rolling out express branches. They are creating high-service branches with wealth management, small business, and financial specialists. So, retail banks need modern staff-modeling capabilities that can help capitalize on sales opportunities while hitting target service levels,” added DeLapa.

Forecaster 2.0 utilizes Kiran’s new, patent-pending resource forecasting method that predicts the distribution of sales and service times with far greater accuracy than alternatives.

“Kiran Analytics is delivering really impressive results to their large retail bank clients. Banks that are embracing Kiran’s predictive analytics solutions in their branch transformation strategies can achieve an impact of $15,000 or more per branch in annual savings and a 25-35% increase in time available for sales and service,” said Gene Kirby, former Chairman of the Consumer Bankers Association.

Resource planning teams using Forecaster 2.0 give high praise to its unique integrated modeling and constrained service level modeling functionalities. Strategic and tactical forecasting functions are integrated in the same model, precluding the misalignment of these two types of workforce planning processes. Constrained service level modeling maximizes service levels for given FTE and forecasted customer patterns. With these innovative modeling functions, Forecaster 2.0 allocates the correct amount of staff levels down to half-hour increments. These new features enable operational efficiency, alignment between resource planning and branch management, and ultimately, successful strategy execution.

Kiran’s Forecaster 2.0 powered by CloudCords® is offered as Software as a Service for retail banks that prefer to manage the software deployment with in-house resource planning. Kiran also offers Forecaster as a managed service. All Forecaster 2.0 implementations are delivered and validated by Kiran’s solution delivery team, industry benchmarks, ground level intelligence from field studies, and process analysis.

About Kiran Analytics Inc.

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.