Service level agreement

(SLA).

1. An SLA formalises the relationship between a bank 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
• Report card
• SLA partner banking