Monitor Year-to-Date Performance With Business Intelligence Services

Article contributor / Brooke Jacobson / Data Analyst

Do you know how your financial institution’s debit card activity is performing now compared to the same time last year? How about what adjustments are needed to ensure your institution meets its annual goals?

The ability to compare the current year’s transaction activity to the same period last year lets you know if you’re on track to grow or if your activity is lagging behind the previous year. If you’re behind, you still have time to act!

The Monthly Business Review in SHAZAM Business Intelligence Services™ calculates year-to-date transaction totals for both point-of-sale and ATM transactions with comparisons to the same period the previous year to easily track performance and answer the question, “Am I on track to perform at least as well as last year?”

If point-of-sale transactions are behind the previous year, you might consider a marketing campaign promoting the use of your institution’s debit card and ultimately boost your non-interest income from interchange. If activity is growing at a rate consistent with your goals, you can allocate resources toward other initiatives and goals.

Likewise, understanding how your cardholders’ use of ATM terminals compares to last year can help you gain insight into consumer behavior that can be applied to your ATM terminals. If deposit transactions are decreasing, there could be an opportunity to remove that functionality from some of your terminals to reduce costs.

Are ATM transactions increasing overall, but usage of one of your institution’s terminals is decreasing? Maybe a change in location is in order, or maybe removing the terminal altogether makes more sense. Whether your goal is to use ATMs as a revenue generator or as a service to your customers, understanding usage trends can help you identify if there are opportunities to increase revenue or decrease costs associated with your ATM fleet.

We understand resources are limited. Actionable data throughout the year can help you identify where resources are needed to meet your annual goals and avoid surprises at the end of the year.

SHAZAM Business Intelligence Services is available now! To learn more or schedule a product demonstration, contact your client executive.