Category: Banking OKRs.

The banking system that we have today can be traced back to the Middle Ages. The Medici family in Florence, Italy, created the formal structure of the bank, 750 years ago. Even today we retain the same structure in banks although technology has been used to automate business processes. With the rapid adoption of digital, today’s consumers have a plethora of choices for their banking needs and are no longer limited to their “local branches” for their banking needs. The traditional banks today have competition from unlikely sources: for example, M-pesa, the highly successive mobile wallet used across Africa is from Vodafone, a leading Telephone company. In China and APAC mobile platforms like Wechat have upwards of a billion users and provide the ability to conduct financial transactions within their platforms. Technology giants like Google, Apple and Amazon have launched mobile wallets that have captured billions of young users. Ant Financial, the financial arm of Alibaba in China has already vaulted into Top 10 financial companies in the world.

The core functions of a bank can be summarized into just 3 functions:

  1. Store Money safely (Includes investments)
  2. Transfer Money safely
  3. Loan Money when you need affordably

Ant Financial allows it’s 1.2 billion users to pay immediately, borrow money in just three minutes or make investments in the world’s largest monetary fund. Even within the banking community a new breed of banks, “Digital First” banks that exist only in your mobile with no physical branches are redefining banking from first principles. Cryptocurrencies are emerging with sky high ambitions to side-step the traditional banking system providing all the 3 above functions. The Fintech revolution is truly happening at this moment.

Traditional banks need to reinvent themselves by designing their operations from the customer’s perspective. OKR is a great tool used by silicon valley to execute their strategy through rapid iterations. Banks need to embrace OKRs to aim for stretch targets, execute with focus, align the entire organization towards their overarching goals enabling their employees with the required tools.

Banks that consistently outperform the market take a customer-first approach to deliver an amazing experience for their customers. Banks can use this framework to measure the success of their ambitious goals and drive the company forward in areas such as client services, customer satisfaction, operations, and much more.

Let’s take a look at these examples of great OKRs for banks:

#1: Retail Banking Operations

Description: An effective objective like improving branch performance would help you to attain key results that would enhance the overall functioning of the bank.

objective icon1Objective

David Griffin

Improve Branch Performance


Target Date: Annual-2021

Visibility: All Employees

key icon1Key Results

Maintain average transactions processed per teller hour work at 10

Annual-2021control kpi1 Average transactions processed per teller hour
5 15 11


Maintain average retail branch lobby wait time at no more than 5 minutes

Annual-2021 img-roger-smith-assignee1 control kpi2 Average retail branch lobby wait time
2 Min(s) 8 Min(s) 4 Min(s)


Decrease cost per teller transaction from $ 4 per transaction to $ 1 per transaction

Q1-2021 img-alice-assignee1 decrease kpi1 Cost per teller transaction
$4 $1 $3


#2: Retail Banking Operations

Description: Try framing customer oriented objectives that would increase the number of footfalls in a limited period of time.

objective icon2Objective

David Griffin

Improve Retail Customer Experience


Target Date: Q1-2021

Visibility: All Employees

key icon2Key Results

Increase the number of smiley terminals in every branch from 1 to 3

Q1-2021 img-jack-assignee1 increaase kpi1 # of smiley terminals
1 3 2


Launch a training program for the employees on new tools and technology

Q1-2021 milestone-kpi1 Launch training program
0% 100% 33%



Increase CSAT scores for retail banking customers from 60% to 90%

Q1-2021 img-alice-assignee2 increase kpi2 CSAT score
60% 90% 62%


#3: Retail Banking Operations

Description: Objective that helps you to focus on the customer experience with tellers will yield personalized satisfaction among customers.

objective icon3Objective

David Griffin

Improve customer experience with tellers


Target Date: Q1-2021

Visibility: All Employees

key icon3Key Results

Decrease the refresh period of advanced customer display units with recent products at the teller counter from 4 to 2 weeks

Q1-2021 img-benny-powell-assignee1 decrease kpi2 Recent product updates refresh period
4 Week(s) 2 Week(s) 3 Week(s)


Increase cross-selling transactions to customers from 8% to 15% by providing personalized recommendations

Q1-2021 img-bertram-assignee1 increase kpi3 Cross-selling transactions
8% 15% 11%


Reduce Teller transaction cycle time from 5 minutes to 3 minutes

Q1-2021 decrease kpi3 Teller transaction cycle time
5 Min(s) 3 Min(s) 4 Min(s)


#4: Retail Banking Operations

Description: Reducing and stopping fraudulent in banking will help you to save your reputation from getting vandalized.

objective icon4Objective

David Griffin

Reduce Losses Due to Fraud


Target Date: Q1-2021

Visibility: All Employees

key icon4Key Results

Decrease the number of false positives with the hybrid approach from 5% to 1%

Q1-2021 img-bertram-assignee4 decrease kpi4 # of false positives
5% 1% 3%


Complete functionality test of internal controls to detect fraudulent behaviour

Q1-2021 img-benny-powell-assignee2 percentage tracked1 Functionality test
0% 100% 45%


Implement an automated fraud detection system based on data analytics

Q1-2021 img-adams-assignee1 percentage tracked2 Data analytics
0% 100% 30%


#5: Trade Operations and Support

Description: Improving trade operations will enhance employee performance and operations.

objective icon5Objective

David Griffin

Improve Trade Operations


Target Date: Annual-2021

Visibility: All Employees

key icon5Key Results

Decrease commercial bank statement error rate from 2% to 0.01%

Annual-2021 img-roger-smith-assignee2 decrease kpi5 Rate of statement errors
2% 0.01% 1.83%


Increase the no of employee training sessions on distributed ledger technology from 2 to 5

Q1-2021 img-jack-assignee2 increase kpi4 # of Employee training sessions
2 5 3


Complete digital capture of manually processed invoices over the past 2 years

Annual-2021 img-alice-assignee4 milestone tracked2 Digital capture of manually processed invoices
0% 100% 30%


#6: Trade Operations and Support

Description: Frame OKRs in such a way that there is progress in your real transaction processing system, this would control and maintain the digital banking needs of the customers.

objective icon6Objective

David Griffin

Improve real transaction processing system(TPS)


Target Date: Annual-2021

Visibility: All Employees

key icon6Key Results

Decrease cycle time of ATM deposits from 60 seconds to 30 seconds

Q1-2021 img-benny-powell-assignee3 decrease kpi6 Cycle time of ATM deposits
60 Sec(s) 30 Sec(s) 56 Sec(s)


Increase the number of online transaction per min from 250 to 500

Q1-2021 increase kpi5 # of online transactions
250 500 299


Hold 5 informational sessions on trade operations and support

Annual-2021 img-adams-assignee2 baseline kpi1 # of informational sessions
0% 100% 50%



#7: Front Office Operations

Description: Enlarge the relationship circle with SMB clients and nullify banking errors to earn customer loyalty.

objective icon7Objective

David Griffin

Improve relationship with SMB clients


Target Date: Q1-2021

Visibility: All Employees

key icon7Key Results

Decrease commercial bank error statement rate from 1% to 0.02%

Q1-2021 img-benny-powell-assignee4 decrease kpi7 # of Error statements
1% 0.02% 0.73%


Increase the SMB-specific customer satisfaction score from 5 to 8

Q1-2021 img-roger-smith-assignee3 increase kpi6 SMB-specific customer satisfaction score
5 8 6


Send at least one email a week about new offers and services to SMB customers

Q1-2021control kpi3 email/week on services
0 Week(s) 2 Week(s) 1 Week(s)


#8: Front Office Operations

Description: Expanding consumer lending operations would restrict users from facing fraudulence by enhancing user experience and the overall operations.

objective icon8Objective

David Griffin

Improve Consumer Lending


Target Date: Annual-2021

Visibility: All Employees

key icon8Key Results

Create SMS/ email alerts for all the identified top 3 abnormal activity of the borrowers

Annual-2021 img-jack-assignee3 milestone tracked3 SMS/email alerts
0% 100% 30%



Decrease maximum waiting time for customers on call from 3 minutes to 1 minute to speak with a customer service representative

Annual-2021 img-roger-smith-assignee4 decrease kpi8 Waiting time
3 Min(s) 1 Min(s) 2 Min(s)


Increase # of loans approved through the fast track approval process from 150 to 200 in current quarter

Q1-2021 img-bertram-assignee3 increase kpi7 # of loans approved
150 200 154


#9: Front Office Operations

Description: Maximum usage of credit cards can be achieved by controlling and decreasing the target interest rate with well-defined strategic key results.

objective icon9Objective

David Griffin

Increase customer adoption of credit cards


Target Date: Q1-2021

Visibility: All Employees

key icon9Key Results

Increase average transaction volume/month per credit card by 10%

Q1-2021 increase kpi8 Average # of transactions per credit card
1% 10% 2%


Decrease credit card account attrition from 10 % to 8% in current quarter

Q1-2021 img-roger-smith-assignee5 decrease kpi9 Rate of credit card attrition
10% 8% 9%


Complete launch of payment deadline alert system for credit cards

Q1-2021 img-adams-assignee3 milestone tracked4 Payment deadline alert system for credit cards
0% 100% 50%



#10: Front Office Operations

Description: Well equipped team of financial advisory and investment services will yield multifold revenue that benefits investors as well as the bank.

objective icon10Objective

David Griffin

Improve Financial Advising and Investment Services


Target Date: Q1-2021

Visibility: All Employees

key icon10Key Results

Increase new private banking accounts opened per private wealth management employee by 15%

Q1-2021 img-bertram-assignee2 increase kpi9 # of Accounts opened per employee
1% 15% 6%


Increase interested investors from 25 to 45.

Q1-2021 img-benny-powell-assignee5 increase kpi10 # of investors
25 45 30


Improve integration of banks with developers of IoT devices and payment systems

Q1-2021 img-jack-assignee4 milestone tracked5 Integration of banks with developers of IoT devices
0% 100% 30%




OKRs can help you drive progress in your bank through any number of initiatives. Your strategy for better engaging customers, boosting performance, or improving operations can be executed using this framework.

When using OKRs, you need an agile software that helps you increase visibility throughout your company, improves collaboration and organization, and keeps all team members focused on your important goals. offers intuitive features that can help you manage OKRs with ease and roll out the framework that has helped so many companies achieve their goals within your organization.



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