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Many financial institutions don’t understand how to calculate the return on their technology investments - and don’t realize that investments in their customers can take a long time to pay out, said Bill Bradway, group vice president of Retail Financial Services at Financial Insights. In today’s spending climate, it’s more important than ever to measure ROI, including long-term customer potential. Therefore, using the right metric tools in a consistent manner is essential.

Metrics is one of ten predictions included in the full research report that identifies the key initiatives that will have strategic importance during 2003 for retail financial institutions.

The top ten initiatives can be classified into three primary categories: analytically derived business value; channel and distribution transformation, and operational efficiency and infrastructure.

Because of the economic climate, we expect financial institutions will continue to spend cautiously in 2003, offers Bradway. To effectively spend on technology and achieve a measurable return, forward-thinking companies need to be evaluating their strategic initiatives and the role that IT should play.

Strategic initiatives, as defined by Financial Insights, are investments in areas that will help institutions identify and capitalize on market opportunities.