Category: Banking

Even as customers flock to online and mobile banking channels, brick-and-mortar retail bank branches continue to play an essential role in serving customers. Branches are still a leading sales channel for bank products and services, and most customers still value face-to-face transactions at their local retail branch—even if they don’t visit it very often. But branches are also one of a retail bank’s biggest operational expenses. A commonly cited statistic is that the same transaction done in a branch costs about $10 compared to about 25 cents in the digital…

In response to the 2008 financial crisis, banks in the U.S. and across the globe have taken steps to significantly improve their financial ratios. For example, in an effort to improve their Common Equity Tier 1 capital ratio, banks have raised additional equity. Although financial ratios are a critical measure of a bank’s liquidity and solvency, there are a variety of ratios that measure everything from customer service to staffing levels that banks can use to benchmark their efficiency, performance, and profitability. And while bank capitalization has improved, banks remain…

Even with technology advances and automated processes, bank productivity and efficiency can lag. For example, according to the Mortgage Bankers Association (MBA), mortgage loan production expenses for banks actually increased to $9,299 per loan in the first quarter of 2019, and productivity remained unchanged at 1.8 loans originated per production employee per month. While banks typically have a lot of data, they lack the ability to drill down into their banking operations and measure performance, cost effectiveness, customer service, efficiency, and more. This lack of insight can be crippling for…

While customers are increasingly adopting online and mobile banking, many still prefer the branch for opening accounts or for big-ticket transactions like mortgages. Brick-and-mortar branches also provide one of the best opportunities for banks to deepen their customer relationships, cross-sell products and services, and build their brand. Retail branches will continue to play an important role for banks in acquiring accounts and serving customers, but banks will need to tweak and refine their branch strategies to deliver a better customer experience while keeping operating costs in check. However, as one…

What are the benefits of a banking dashboard for your operational business intelligence? You can scour the Internet for reasons why to implement a banking dashboard and examples of how to do so. But in this article, we’re going to take a good close look at what banking business intelligence dashboards can do for your operations. Benefits of properly implemented banking dashboards include: Transforming unused banking data assets into insights that drive results. Live reporting instead of waiting for monthly roll-ups from manual analysis. Increased accuracy of reporting. Improved operational…