Service level agreement

(SLA).

1. An SLA formalises the relationship between a bank's customer and its bank, by covering the minimum standards of service expected by the customer - including key performance indicators (KPIs) - and agreed to by the bank.
2. SLAs are also used between one bank and another. For example, where a bank provides services to its own customers indirectly, through a correspondent bank.
3. More generally, any similar agreement between a customer and a service provider.

See also

• Alliance bank
• Correspondent banking
• Key performance indicator
• QA
• Report card
• SLA partner banking