Framework for Developing a Banking Performance Dashboard

Abstract

This article creates a framework for conceptually designing a performance dashboard for banks. It provides guidelines for developing such a framework for banks and other organizations with similar characteristics. A three-step approach for developing the dashboard is proposed. The first step is to determine the ideal characteristics of an effective performance dashboard using an extensive literature search and expert opinions of TMB bank executives. Second, the current performance reporting system is analyzed using a simplified “Delphi” method to identify discrepancies from the ideal characteristics. Third, some missing elements are identified, and recommendations are provided to enhance the current performance reporting systems, to be an effective performance dashboard. The proposed ideal characteristics and the simplified “Delphi” method are effective to identify missing elements. Moreover, a working team comprised of academicians and bank executives can provide acceptable recommendations to improve the current performance reporting system, to become an effective performance dashboard.