DIGITAL BANKING Tips - Tip 15: Digital Metrics and KPIs for Measuring Performance

Knowing how your Digital Channels are performing is very important, as we can not MANAGE something, we can not MEASURE (Tiger Woods once tried this and wanted to manage extra marital affairs without measuring the numbers and poor guy within a year, agreed to a $750 million divorce!). Therefore, we need to have solid KPIs for monitoring Digital Channels contributions to our daily business.  

As of today, there is no common standard for Digital Channels Metrics (i.e. KPIs). From one bank to another, KPIs are changing and if not set up right, they are also misleading. In order to know where we are (AS IS) and where we want to go (TO BE) – it is obvious that we need solid Digital metrics through which we can evaluate the performance of our channels on routine basis.  

This is the short version of the post. 

Starting from Tip 2 to Tip 30 only short versions of my posts are available at Finextra. From Tip 31, full (long) versions of my posts can be read here.