These KPIs provide important insights into everything from finances to operations.
A multitude of KPIs can be implemented to measure every type of transaction and service in a bank to accurately evaluate performance, profit, customer service, and more. It can be hard to choose which measures to focus on, so here’s a list of bank KPIs you should track, organized by category. These metrics are applicable to banks of all sizes and cover the most important aspects of operations and management:
*Note: The three bank KPIs listed above are the holy trinity. Your stakeholders (such as investors and board) will focus on these metrics more than any others—if nothing else, your bank should track these critical KPIs.
Why go to all the trouble of monitoring KPIs? Because these metrics provide important insights into how your bank and its employees perform. You’ll know what’s contributing to your profit and what’s not, so you can make strategic decisions on everything from hiring to resource allocation. Ultimately, KPIs evaluate the success of your bank and quantify its performance in tangible ways for your leadership and stakeholders.
Joseph is the Vice President of Customer Success at ClearPoint