SCOTTSDALE, Ariz., Sept. 20, 2022 /PRNewswire/ -- Cornerstone Advisors announced today it will be showcasing its cloud-based Performance Program platform this week at the CUNA Technology Council Conference in Las Vegas. Cornerstone's Performance Program enables banks and credit unions to formulate competitive business strategies based on analytical comparisons with peer and high performing financial institutions.
"Knowing how a financial institution performs compared to its peers translates to a critical advantage in the organization's long-term success," observed Eric Weikart, a Cornerstone partner who will be presenting the Performance Program at the conference. "The advanced business analytics in Cornerstone's proprietary benchmarking database and the additional insights delivered through the Performance Program can uncover countless opportunities for growth, innovation, and competitive leverage."
For the past 20 years, Cornerstone Advisors has worked with hundreds of financial institutions to collect and analyze the detailed data that helps drive high performance. "Performance Program offers financial institutions on-demand access to this impactful data in a self-service technology platform," Weikart said.
Performance Program pulls from more than 1,000 data points to deliver 270 critical metrics across 27 business units. Key features of Performance Program include configurable scorecards with target-setting capabilities to enforce accountability of business line managers; a dashboard that uncovers untapped revenue, expense, and service opportunities; a "Target Achiever" feature that enables scenario planning; and customization based on asset size, tech stack, business model, geography, and product mix.
"Cornerstone has found that an enterprise-wide benchmarking discipline can lead to roughly $4 million to $8 million of performance improvement opportunity for every $2 billion in assets," said Weikart. "Performance Program helps financial institutions instill the discipline to realize their true potential."
Cornerstone Advisors, a management and technology consulting firm, brings innovative insights and strategic execution to banks, credit unions, and fintechs, helping them reach the next level of performance. For more information, visit crnrstone.com.