A Simulation of the Optimal Personnel Demand for Banking Hall Services

Abstract

The banking industry has seen a revolutionary moment in adopting mobile banking technology in the last few years. The technology has contributed to many customers keeping off the banking hall for basic and routine transactions. This has largely been attributed to the convenience of mobile banking, including time management and increased privacy. However, there are still times when a bank conducts large-scale service provision for many people. For example, a payment agency contracted by the government to disburse funds to a section of the citizens may require that money be channeled only through a particular bank. If the period for such a requirement is limited, there is likely to be pressure on both the bank and the would-be customers because of long queues. For cases like that, there is a need to simulate possible scenarios and plan to avoid delays and frustrations for both parties. This work proposes a queue simulation model that can be used to forecast the number of bank staff that can be deployed for such a scenario vis a vis the expected number of customers seeking service. Results have shown that the simulation model can help the bank management make optimal choices that will avoid waste in the form of human or financial resources.