Question

How can a bank better serve its customers?

Answer #1

A bank should have a customer relation department. The department should first try to understand the needs of the customers and the areas in which they have complaints. This data should be collected and analysed properly so as to understand the areas of improvement.

They should be communicated to the respective departments and discussed within teams to arrive at prospective solutions

Finally plans should be prepared and implemented as well as monitor to give better service to the customers.

A large bank branch employs 5 tellers to serve its customers.
Customers arrive according to a Poisson process at a mean rate of 3
per minute. The transaction time between the teller and customer
has an exponential distribution with a mean of 1 minute. The
management has established the following guidelines for the
satisfactory level of service to customers:
The average number of customers waiting in line to begin
service should not exceed 1.
At least 95% of the time,...

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Average time in the system.
Average waiting time in the line.
Average number of customers in the line.
Utilization of the teller.

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