OPERATIONS
Optimize Your Performance With Banker’s Dashboard
Get a daily view of your bank’s fiscal health, automate reports and empower your team with a culture of accountability.
Banker’s Dashboard empowers key decision makers at your bank or credit union with real-time access to your performance data so you can make smarter, more strategic decisions.
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Total | |
|---|---|---|---|---|---|---|
| Earning Assets | ||||||
| Cumulative NIM Improvement | 0.01% | 0.02% | 0.03% | 0.04% | 0.05% | |
| Total Impact to Net Interest Income |
| Earning Assets | Cumulative NIM Improvement | Total Impact to Net Interest Income | |
|---|---|---|---|
| Year 1 | 0.01% | ||
| Year 2 | 0.02% | ||
| Year 3 | 0.03% | ||
| Year 4 | 0.04% | ||
| Year 5 | 0.05% | ||
| Total |
PRODUCT FEATURES
Each user’s start page can be customized to show what is most important to them. An assortment of graphs and gauges can be used to provide a unique view into performance. Some commonly used widgets include Net Interest Margin, Total Deposits, Loan-to-Deposit Ratio and Cost of Funds.
Transparency into loan production and pricing allows you to easily see which lenders are producing and how each branch is performing, down to each individual loan in your portfolio. This level of transparency enables you to drive performance throughout your bank or credit union.
FEATURES & BENEFITS
With our legacy system, we had lots of duplicate data entry. Now things fill in automatically and we save hours and hours of time. Everything I need is accurate, up to date and at our fingertips.
Our CEO and senior executives can’t stop talking about how smoothly the budgeting process went. Our budget is more of a living budget now. We can work with it without going through reams and reams of paper.
Marnie Hermann, Chief Banking Officer
Security First Bank
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FAQ
Banker’s Dashboard is a performance management platform that enables financial institutions to drive high performance at every level of their organization. Available as a web or mobile-enabled bank dashboard software solution, Banker’s Dashboard provides actionable insights including real-time reporting, drill down capabilities to the instrument level, budgeting & forecasting tools, loan pricing modeling, and asset liability management.
Net interest margin, or NIM, is a measure of long-term profitability for financial institutions. NIM measures the difference between interest income and interest expense, divided by interest-generating assets held by an institution. Interest income is income generated from credit products like credit cards and mortgages. Interest expense is the amount of outgoing interest paid to account holders of savings accounts or certificate of deposits.
Banker’s Dashboard can help your financial institution improve net interest margin.
A basis point (bp) is a simplified unit of measure that expresses percentages in finance that is equal to 1/100th of 1 percent (0.0001). It’s the difference between 3.00% and 3.01%. While it’s a seemingly insignificant measurement, the basis point is useful when discussing interest rates. We also use the basis point to talk about improvement to net interest margin. Our Banker’s Dashboard clients average 29 bp higher NIM than the market. For a $500 million bank, 1 bp is worth about $50,000 per year in additional earnings. If you improved your $500 million bank’s NIM by 1 bp per year that would put an extra $750,000 straight to the bottom line!
Key performance indicators for banks can include profitability, revenue, expense, net interest margin NIM, Return On Equity (ROE), Return On Assets (ROA), etc. In fact, based on your organization and the strategy that your executive team has identified, KPIs can be utilized to provide insight to measure progress toward a desired result while informing decision making. While there are hundreds of KPIs that can be tracked, only those that are tied to overall strategic goals will be meaningful.
There are many ways to evaluate the performance of a bank. From high-level oversight numbers such as NIM to more granular numbers including branch-level and officer-level reporting, each bank’s situation is different and therefore is evaluated based on their own performance metrics. Depending on your organizational focus and requirements, determining what is strategically important for short- and long-term growth will then identify performance metrics to show success.
The concept of performance banking is based on the performance management model of open communication, growth orientation and personal accountability — applied to banking. Performance banking can be transformative, especially if your culture is steeped in tradition. Read the 5 beliefs of performance-focused banks and learn how to build a performance banking culture.
While the annual forecasting model is effective for some banks and credit unions, it’s a consuming and often cumbersome process that can be fraught with flaws. Most organizations set up unrealistic expectations that can’t be adjusted based on economic or fiscal challenges facing your organization. In the meantime, banks with rolling forecasts have the information they need to adapt to changing conditions, which helps them manage risk exposure. That's important when current market conditions are in flux. Read the six truths about rolling forecasts to help your bank or credit union determine the right forecasting model for success!
Spreadsheets are a very valuable tool for many bank and credit union finance teams. It’s a tool that helps many organizations get off the ground, but when it comes to budgeting, forecasting, and planning, spreadsheets have many shortcomings that could leave your organization in a tight spot. The three top challenges we hear about spreadsheets from our customers include are loss of productivity, formula errors, and wasting of talent. Banks and credit unions that want to succeed need to free their finance team from crunching numbers so they can provide higher value to your organization. Don’t be a data miner – be a data interpreter! Instead of providing data to your team – provide direction to them based upon what the data is showing you!
Learn more about how automated banking dashboards can help save time and money.
