I would suggest that you should first evaluate if your processing time is in fact taking more than one minute. If it isn't then you have a different problem.
If your processing time is taking that long (and you can't make it take less time) then you will need to set up a binding description and change the timeout value in there.
Following is a good enough example of a configuration binding. However keep in mind it is ONLY an example. It has the timing values but you can't just start using it without at least looking at the rest of it.
Windows Communication Foundation QuickStart - Multiple Binding VS2010[
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