Financial services, 20 metrics & KPI
Before dashboard creation, it’s important to define metrics and key performance indicators (KPI). Which of them will you use into your dashboard? This choice depends on your function, your strategy and your market. Difference between metric and KPI is objective. A KPI is a metric with an objective, a status and one or more trend(s).
You can use these metrics and KPI for strategical, tactical or operational dashboard. Context and filter will define the level. Be sure to develop your dashboard according on your organizational strategy and with business team, finance analysts and managers.
There are others metrics and KPIs for financial services. I’m listing some KPIs that I often implement for my clients.
Financial services Metrics and KPI list
I propose to present 20 metrics and KPI for the financial services (warning: average have to be analyzed with standard deviation. Average can be replaced by median):
Average sum deposited in new deposit accounts
Cash conversion cycle (CCC)
Common stock equity
Long term debt
Number of past due loans
Preferred stock equity
Return to equity
Short term debt
Total current liabilities
To calculate these metrics and KPI you need to have access to your data: management system, payroll and HR system, accounting system, finance transaction system.
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