Blog · Board and management reporting · Financial services
The ten customer KPIs a multi-product financial services firm should run on, each with its formula, the export it comes from and what it tells you: one customer view coverage, products held against the segment norm, products opened and unused, tenure against depth, segment migration, primary relationship indicators, balance and activity attrition, contact recency by value, complaint and service recurrence, and revenue concentration. Also the three measures most firms miss, the figures to drop, the identities, and who owns what.
A financial services customer holds products in systems that do not know about each other. The measures that matter start by joining them, then show who is thinner than their peers, what was opened and never used, and whose activity is leaving.
| # | Measure | Formula | Export | What it tells you |
|---|---|---|---|---|
| 1 | Single customer view coverage | Accounts, and revenue, linked to a resolved customer ÷ total, by match method | Product systems; customer master | Whether any per-customer measure can be trusted |
| 2 | Products held against segment norm | Active products held ÷ median for the customer's segment | Holdings; segment file | Customers thinner than their peers |
| 3 | Opened and unused | Products with no funding or transaction within the window ÷ products opened, by product and origin | Product systems; transaction file | Cross-sell that did not happen |
| 4 | Tenure against depth | Customers by tenure band and products held; long tenure, low depth list | Customer master; holdings | Loyal customers never developed |
| 5 | Segment migration | Customers moving up or down a value band in the period, with the norm re-applied | Balances; revenue; segment rules | Customers outgrowing their service model |
| 6 | Primary relationship indicators | Salary or main income credited; share of outgoings through the account | Transaction file | Whether the firm is the main provider |
| 7 | Balance and activity attrition | Balances and transaction counts, last 3 months ÷ own prior year | Balance and transaction files | Customers leaving before they close anything |
| 8 | Contact recency by value | Revenue of customers contacted within cadence ÷ revenue of managed customers | CRM; revenue file | High-value customers nobody has spoken to |
| 9 | Repeat complaints and contacts | Customers with a second complaint or the same issue within 30 days ÷ customers who complained | Service log | Service failures that precede attrition |
| 10 | Revenue concentration | Top decile's share of revenue; largest relationships | Revenue file, by resolved customer | Dependence, visible only once customers are resolved |
Every one of these is computed per account, per segment and relationship owner, and in total, and every one carries an identity that must hold before the table is shown.
The single customer view as a measured thing. It is treated as a project with an end date, not as a coverage figure reported every month.
Opened and unused. Counted as sales on the day; never revisited.
Tenure against depth. The customers least likely to leave and most likely to say yes, in nobody's campaign.
A firm reports 2.4 products per customer. After resolving duplicate records, 18 percent of customers turn out to be the same person or business held twice, and the figure becomes 2.9. After removing products opened and never used, it becomes 2.3. The first correction was about the data; the second was about the selling. Neither was visible in the headline.
Products per customer as one firm-wide average. Moves with record duplication and unused openings more than with anything real.
Accounts opened. Without activation it rewards the wrong behaviour.
Customer numbers. Counts records, not customers, until the view is resolved.
| Table | Must hold |
|---|---|
| Customer view | Accounts = linked to a resolved customer + unlinked; revenue likewise |
| Holdings | Product revenue by customer sums to the revenue ledger |
| Opened and unused | Opened = active + unused + closed within window |
| Migration | Customers at start + new − lost = customers at end, per band, with moves netting to zero |
A table whose identity fails is a table with a row missing or counted twice. It is not shown until it is fixed.
| Measure | Owner | Reviewed |
|---|---|---|
| Single customer view coverage | Data or operations lead, with each product head | Monthly |
| Attrition signals; contact recency | Segment heads; relationship owners | Weekly to monthly |
| Products against norm; tenure and depth; opened and unused | Head of customer or distribution | Quarterly |
| Migration; concentration | Segment heads; finance | Quarterly |
A measure with no owner is a metric, not a KPI; see KPI versus metric versus measure.
Ten measures, and the first one decides whether the other nine mean anything. Resolve the customer, remove what was never used, then read depth against the segment. Covirage computes all of them from the exports financial services firms already produce, files only, with the definitions stated and the identities checked. See Covirage for financial services firms.
Because product systems each hold their own customer record, and until they are linked, products per customer, share of wallet and attrition are all computed on fragments. The share of accounts and revenue resolved to one customer, with the match method stated, is the measure of whether the rest can be trusted.
One opened and never funded, activated or transacted on within a stated window, such as a card never used in ninety days or a savings account never funded. They inflate products per customer and cost money to maintain. Reported separately, they show which campaigns and which staff are opening products nobody wanted.
Customers of ten years who hold two products. They trust the firm enough to stay and have never been asked for more, or have been asked badly. They are usually the largest and most receptive cross-sell group, and they sit in nobody's target list because they are neither new nor at risk.