The introduction of smartphones kick-started the mobile banking revolution, the financial crisis brought on a world of regulatory pain, and the emergence of fintech startups threatens to disrupt, displace and, well, “diss” banks altogether.
With the publication of the 2017 Cornerstone Performance Report for Banks, we decided to look at how banks’ operational performance has changed over the past 10 years, as well. The list of metrics that have changed dramatically is long, but we narrowed it to 10 across three channels:
For more information on the 2017 Cornerstone Performance Report for Banks, click here.
5 thoughts on “10 Banking Channel Metrics That Have Dramatically Changed in 10 Years”
Ron, as a small credit union we don’t get full value from the banking studies but I do follow just about everything you write. This post was very interesting but a couple of uses of terminology were not clear (that probably are clear to purchasers of the studies). When you refer to “platform employees”- who is included in that group? All member facing staff including tellers? And, when you refer to “contact centers” is that internal call center type operations or member servicing staff or outsourced third party call centers? It’s always nice to see how one stacks up compared to the big ones!
Platform employees include those involved with account opening, servicing, and closing, deposit sales, safe deposit box, deposit exception reports, research. Excludes tellers.
And the contact center metrics were for in-sourced FIs. I should have labeled that more clearly.
Where does the ATM fit into this? How do the transaction volumes compare vs branch?
Seems that one of the most important customer touch points for most banks is the ATM? I always have a line at my ATM while the drive thru lanes are open?
Great thought provoking article!
Ross: Thanks for your comment. As you’re finding out (the hard way), ATMs are as alive and well as ever. As for specific data points regarding transaction volumes, I’m afraid those are only in the report.
Nice write up Ron. It left me wondering which channel all those account opening activities that used to occur in the branch shifted to? Are we measuring that and understanding the shifts?