The research provides a context and a framework to identify the appropriate measures that financial institutions should follow
PLANO, TX, June 1, 2022 /PRNewswire/ — Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a cloud-based leader digital banking solutions supplier for banks and credit unions in the United States, announced the publication of its latest research report, “Digital Banking Performance Indicators 2022“, an exclusive report for banks and credit unions that gives leaders of financial institutions the context they need to measure and manage their digital investments, channels and operations.
Created in collaboration with Cornerstone Advisorsthe report is based on a study of 66 financial institutions (FIs) with an average asset size of $5.2 billion. The report shares metrics and benchmarks to help bank and credit union leaders:
- Understand key indicators related to digital banking operations and performance; and
- Establish goals and targets based on well-performing financial institutions.
“Our analysis revealed what we call ‘the 11 characteristics of high-performing institutions,’ which represent measures that FIs should use as a benchmark to assess their own performance,” said Mary Nelson, Alkami’s Chief Account Officer. “The data clearly shows that consistently high performing FIs significantly outperform other institutions in these areas. By strategizing using these metrics, FIs will be able to focus their efforts to achieve digital banking results superior, and therefore an overall performance of the company.”
The full report includes:
- Performance segmentation. Five key business metrics used to segment the FI dataset into high, medium, and low performance categories.
- 11 characteristics of successful institutions. Areas in which high performing institutions performed significantly better than their peers.
- Emerging digital measures. Data FIs should follow the future as an indication of the success of digital channels.
- Digital banking metrics framework. A structure to help FIs identify appropriate metrics to focus on and track.
“The report will help financial institutions think strategically about the role and performance of the digital channel,” added Ron Shevlin, Director of Research, Cornerstone Advisors. “There is no end to the number of performance metrics a business can define and measure. This study provides a digital banking metrics framework to help FIs focus on metrics that will move the needle now and in the future.”
Access the full report here.
Alkami Technology, Inc. is a leading provider of cloud-based digital banking solutions for financial institutions in United States that empowers customers to grow with confidence, adapt quickly, and build thriving digital communities. Alkami helps clients transform through retail and enterprise banking, digital account opening and loan origination, multi-payment fraud prevention, and analytics and engagement solutions of data. To learn more, visit www.alkami.com.
Cornerstone Advisors is a management and technology consulting firm, bringing innovative ideas and strategic execution to banks, credit unions and fintechs, helping them achieve the next level of performance.
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SOURCEAlkami Technology, Inc.