Analytical Tools for Implementation of Integrated Technologies for Bank Financial Management

Abstract

The rapid development of bank financial management technologies prompted by increasing sophistication and scaling of control elements calls for harmonizations of its functions and improved analytical support. The object of the paper is to develop analytical tools for implementation of integrated technologies of bank financial management (balanced scorecard, benchmarking, financial controlling) that would factor in the stages of the bank's life cycle. The study employed the following methods: logical synthesis – to form a system of performance indicators to measure the bank's financial, customer base, business processes and human resources management; canonical analysis – to establish the cause-and-effect relationships among these indicators. Results. Using 44 banks in the intensive growth stage as a case study, the paper proves close correlation between the perspectives of the balanced scorecard: "Personnel Development"– "Business Processes"; "Business Processes" – "Customers"; "Customers" – "Finances". Conclusions. The proposed set of analytical tools to allow for the specifics of the cause-and-effect relationships present at each stage of the bank's life cycle between its performance indicators of financial, customer base, business processes and personnel management, constitutes grounds for adjustment of the bank objectives maps with due regard to the cyclic nature of its development, creation of mechanisms for application of the balanced scorecard, benchmarking and financial controlling technologies.