Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
Ideally, you need to have a strategy (in a form of a strategy map) before you start thinking about the ways to measure its execution (KPIs). Don't have a strategy map yet? Use free Strategy Map Wizard to create a strategy map for your current business challenges. The wizard will:
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Retail Banking is the one where banking institutions conduct all transactions with customers themselves and not other corporations. Some of the services provided under this umbrella are- checking accounts, savings accounts, debit cards, credit cards and mortgages.
Due to the large variety of services offered by these companies, it gets compelling enough to bring in a 'performance measurement and management tool' into picture. This is often a BSC (Balanced Scorecard) that emphasizes the usage of quantitative methodology in the monitoring process. It was devised by Norton and Kaplan in 1990s.
However, spotting the right metrics can get a bit troublesome at times. In such situation, the basic definition has to be kept an account of. One should opt for only those KPIs (Key Performance Indicators) that truly and honestly can convey the progress being made in the field of Retail Banking.
Moving ahead, carrying out this task asks for a substantial grip on the subject. However, once a 'satisfactory' group of metrics has been established, tracking responsibility can be transferred to it and one can take a sigh of relief. By paying regular visits to this set of values, it is possible to keep things within control.
This is the actual scorecard with Retail Banking Dashboard and performance indicators. The performance indicators include: non-interest income level, fee income level, return on capital employed, return on operating capital, overhead cost ratio, interest margin metrics, operating margin, interest margin, return on average assets, capital adequacy ratio.
How is this book different from 796 other book titles about KPIs on Amazon?
"Before writing a single line, I formulated some guiding principles, one of them was: "If our clients ask, "How can I find a good KPI for..." - I want this book to provide a perfect answer."