Modelling and Simulation of Deposit Slip Mode of Bank Cash Deposit Transactions Using Hierarchical Timed Coloured Petri-Nets

Significant investments are being made yearly to improve service quality and delivery in banking systems to minimise customers' dissatisfactions with long waiting time due to overcrowding. However, most existing empirical studies to address this problem employed the method where the system was modelled and then developed a program that will simulate, analyse and validate the developed model. This paper conceptualised modelling bank cash deposit transactions characterised by Deposit Slip (DS) using Hierarchical Timed Coloured Petri Nets (HCPN). The HTPC model developed was simulated using Coloured Petri Nets tools. The model was validated by comparing the simulated results with the real average flow time of the customers and utilisation rate Original Research Article Olusanya et al.; JERR, 1(3): 1-7, 2018; Article no.JERR.41839 2 of servers using statistical t-test at p< 0.05. This model is useful for bank decision makers in capacity building to enhance service quality and delivery.