Best Financial Performance Management Software for Community Banks

BankBI gives community bank finance teams a daily balance sheet, income statement, and board pack, plus budgeting and forecasting, all built from the same core banking and general ledger data.

Other financial performance management software for community banks leads on one part of the job: KlariVis on dashboards from daily core extracts; Jack Henry’s Financial Performance Suite, Plansmith, Empyrean, and Vena on planning and interest rate risk; and Arkatechture on a managed data warehouse.

In many community banks, the Controller or vice president (VP) of finance copies figures from the core banking system (loans and deposits) and the general ledger (the accounting record) into Excel after month-end. The chief financial officer (CFO) then presents weeks-old numbers to the board, and next year’s budget is built the same way. Each type of software fixes a different part of that problem:

• Figures arrive late and are rebuilt by hand: a daily reporting platform loads core and general ledger data every day and produces statements, dashboards, and board reports.
• The budget and interest rate risk are the hard part: a planning suite builds the budget and links it to asset liability management, which tracks interest rate and liquidity risk.
• The team wants to keep working in Excel: planning inside Excel keeps the spreadsheet as the interface, with a central model behind it.
• You need analytics across every system: a data warehouse holds data from many systems in one place, for analysts.

This guide compares seven options on five points:

1. Where the data comes from and how often it refreshes
2. How much detail the reporting shows, down to branch and loan officer
3. Planning and forecasting
4. Board reporting
5. Who runs the system day to day

Financial Performance Management Software for Community Banks Compared

The table sets out each option and the kind of community bank it suits.

In short: reporting platforms report the numbers every day, planning suites forecast them, Excel-based planning keeps the spreadsheet, and data warehouses hold everything for analysts.

How We Compared These Financial Performance Tools

• Criteria: data source and refresh, depth of reporting, planning and forecasting, board reporting, and who runs the system.
• Method: a review of public sources, mainly each provider’s own website. For KlariVis, we used the description published by the Independent Community Bankers of America (ICBA). We didn’t test any product ourselves, and we give no scores or rankings.
• Date: October 2026. Features change, so check each vendor’s current information.
• Sources: each provider’s facts come from the page linked in its entry. Facts on the Call Report come from the Federal Reserve’s reporting forms page, checked October 2026.

The Seven Financial Performance Management Tools for Community Banks

1. BankBI

BankBI gives community bank finance teams daily financial and banking performance reporting, built from their own core banking and general ledger data. Its Financial Performance module reports the balance sheet and income statement every day, so you can follow movements in loans, deposits, income, and expenses during the month, not only after it closes.

• Daily statements: daily balance sheet movements, daily income statement changes, and daily branch balance sheets and income statements.
• Ratio dashboards: dashboards set up with the ratios that track your bank’s strategy, including asset yields, cost of funds, and net interest margin (the gap between interest earned and interest paid).
• Branch and officer detail: daily loan activity with weighted average rates (the average rate, weighted by loan size), by branch and loan officer, plus past due trends.
• Reconciled data: data from your core banking system is reconciled with your general ledger.
• Board and management reporting: a fully automated board pack and monthly management PDF reports, with role-based reports so a branch manager sees their own branch.
• Planning in the same platform: Planning, Budgeting & Forecasting builds annual budgets, rolling forecasts, and multi-year plans next to the reporting.

Data comes in through pre-built connections. For Fiserv DNA, BankBI takes data through a DNA query, with no dedicated connection to the core. Other cores on its list include Fiserv Premier and the PhoenixWorx Phoenix core banking system (formerly Finastra’s), and its general ledgers include Fiserv’s Prologue Financials and Financial Accounting Suite (FAS). If your core isn’t listed, BankBI asks you to get in touch.

BankBI runs as a cloud service with no upfront investment in infrastructure. In BankBI’s words, core banking systems weren’t designed to be business performance reporting systems; BankBI reports on that data so your finance team doesn’t rebuild the reports in Excel.

2. KlariVis

KlariVis is a data analytics platform for community banks. As the ICBA described it in April 2023, KlariVis automates daily extract files from a bank’s core and other systems and presents the data as self-service dashboards and reports across the bank.

Its views include executive insights, sales intelligence, credit risk insights, and financial intelligence, along with automated board reporting. Because the dashboards reach across the whole bank, KlariVis suits banks that want lenders, branch leaders, and executives working from the same daily views as finance.

3. Jack Henry Financial Performance Suite

Jack Henry’s Financial Performance Suite (FPS) is a set of hosted financial management tools for banks and credit unions. It brings together:

• Asset Liability Management, for interest rate, market, and liquidity risk
• Forecasting and Financial Reporting, a budgeting system that forecasts the balance sheet
• A Daily Dashboard, refreshed by a nightly feed from multiple core sources
• Organizational Profitability, by branch, department, and region
• Solutions for current expected credit loss (CECL), the accounting standard for loan loss reserves

Jack Henry states that FPS works with all core vendors, so a bank doesn’t need a Jack Henry core to use it. Most of its use is in the finance department, where budgeting, risk, and profitability sit in one suite.

4. Plansmith

Plansmith sells software and expertise for banks and credit unions, from a team of former community bankers. Its Compass software automates budgeting, forecasting, and reporting, and Plansmith has combined budgeting and asset liability management into one module that works with your core system.

The features it lists include interfaces with core systems, budget and forecast modeling, board reporting, and automated rate risk. Plansmith also offers asset liability management advisory and outsourcing services. For a bank whose hardest job is the annual budget and rate risk, Compass keeps both in one model.

5. Empyrean

Empyrean builds budgeting, asset liability management, CECL, and profitability software for community banks and credit unions. Its Budgeting and Planning module covers the balance sheet, income statement, payroll, and capital expenditures, and keeps budget assumptions in sync with asset liability management, so rate and scenario results flow back into the plan.

Empyrean describes the platform as cloud-based, built for the finance team to own and run, and working alongside the core. For banks without staff for asset liability management, its outsourced service runs that work and prepares reporting for the asset liability committee (ALCO).

6. Vena

Vena offers financial planning and analysis software for banks and credit unions inside the familiar Excel interface. It lets a finance team:

• Bring existing Excel models into Vena
• Plan net interest margin, the balance sheet, and the income statement with pre-built templates
• Connect to systems such as Fiserv, Jack Henry, and FIS
• Model interest rate scenarios for liquidity, margin, and economic value of equity

The team keeps working in Excel, with the data held in a central model behind it.

7. Arkatechture

Arkatechture is a data and analytics company serving credit unions and banks. Its Arkalytics platform is a data warehouse (one central database for data from many systems) with business intelligence and predictive analytics, sold as a software as a service subscription and fully managed, including implementation and hosting.

The company also offers consulting, from scoped dashboard projects to analysts who work alongside your team. That makes it a fit for banks that want data from many systems in one place for analysis across the business.

What to Look for in Financial Performance Management Software for a Community Bank

Daily Data from Your Core and General Ledger

Software only helps if the numbers arrive without anyone keying them in. Ask each vendor which core banking and general ledger systems it connects to today, how often the data refreshes, and how it moves. The common routes are:

• A query in your core: for Fiserv DNA, BankBI takes data through a DNA query, with no dedicated connection.
• A daily extract file produced by the core and sent to the vendor.
• A connection the vendor builds and maintains for your system. BankBI lists its connections on its integrations page.

The standard to ask for is daily, with core data reconciled to the general ledger. BankBI reconciles core banking data with your general ledger. Ask any vendor how a difference between the two is handled before reports go out.

One Set of Numbers for Daily Reports, the Board Pack, and the Budget

Many banks want both daily reporting and a better budget. The question is whether they run on the same numbers: if the board pack, the dashboards, and the budget draw on different data, someone reconciles them by hand every month.

Planning suites such as Plansmith and Empyrean tie the budget to interest rate risk. BankBI holds the budget, rolling forecasts, and multi-year plans in Planning, Budgeting & Forecasting, in the same platform as its daily financial ratios, with actuals uploaded from the general ledger and loan and deposit data. Ask each vendor to rebuild one page of your current board pack from your own data.

Detail Below the Totals

Decide who will use the system beyond finance. Branch managers and lenders need figures at their own level:

• Loans and deposits by branch and officer: new loans with weighted average rates, and past due trends.
• Lists to act on: customers with deposits maturing within 7, 14, or 28 days, and loans approaching their repricing dates.

Check that access can be limited by role, so a branch manager sees only their branch. BankBI’s community bank reporting includes both kinds of detail, with role-based reports.

Analytics Beyond Finance

Some banks want analytics that reach well past finance, across customer behavior, products, and channels, with data from many systems. That is a data warehouse’s job. A managed data warehouse such as Arkatechture’s Arkalytics holds that data for analysts and predictive models.

It works alongside a reporting platform rather than in place of one. A data warehouse can also feed BankBI, so finance reporting and wider analytics start from the same store of data.

How to Choose the Right Financial Performance Software for a Community Bank

Step 1: Decide the Job First

Choose among daily reporting, the annual budget, or both from one set of data. Each type of tool covers a different job:

• Daily reporting platforms cover statements, ratios, and the board pack.
• Planning suites cover the budget and interest rate risk.
• Data warehouses cover analytics across many systems.

If the budget cycle is what’s pushing the decision, ask whether the plan can use this year’s actuals straight from the general ledger rather than from a spreadsheet export.

Step 2: Check the Connection to Your Core and General Ledger

Name your core banking system and general ledger, and ask each vendor whether it connects to them today, who builds the connection, and who maintains it. Bring your information technology (IT) lead in at this step. If your system isn’t on the vendor’s list, ask what happens next.

Step 3: Decide Who Will Run It

Match the model to the people you have:

• A service the vendor sets up: BankBI’s implementation team maps your data to its banking model once, through its Integrations Hub, and your finance team confirms the reconciled results.
• A platform finance runs: some planning suites are built for the finance team to own after setup.
• A data platform: a data warehouse lets analysts run their own analysis, often with the vendor’s consultants.

Step 4: Size It to Your Bank

Start from your asset size and the size of your finance team. Asset size shapes the quote; team size sets who can run the system. Your CFO approves the purchase and presents the figures to the board, so the tool has to produce what the board reads.

• A finance team of a few people: favor software the vendor sets up, with standard reports ready to use.
• Analysts on staff: a planning suite or a data warehouse becomes realistic.

Ask each vendor for a quote based on your asset size, modules, users, and data sources.

Step 5: When to Choose a Reporting Platform Built on Daily Core and General Ledger Data

If figures reach your CFO and board only after month-end, and the budget sits in a separate spreadsheet, choose a platform that reports daily from your core and general ledger and holds the plan too.

BankBI’s Planning, Budgeting & Forecasting sits in the same platform as its daily financial ratios, with actuals uploaded from your general ledger. To see how it would work with your systems, book a consultation with BankBI.

Frequently Asked Questions

Who Are the Best Financial Performance Management Software Vendors for Community Banks?

It depends on the job. For daily reporting and the budget from one set of data, BankBI reports the balance sheet, income statement, and board pack every day from your core and general ledger, with planning in the same platform. For budgeting tied to interest rate risk, Jack Henry’s Financial Performance Suite, Plansmith, and Empyrean fit; for dashboards across the bank, KlariVis; for a data warehouse, Arkatechture.

What Should a Community Bank Look for in This Software?

Start with the data: direct connections to your core and general ledger, refreshed daily and reconciled. Then check that the board pack and the budget use the same figures, and that branch and loan officer detail is there. BankBI covers each of these in one platform, with role-based reports for branch managers.

How Long Does Implementation Take for a Community Bank Under $1 Billion?

It depends on your core, your general ledger, and how much of the work the vendor does, so ask each vendor for a plan for your systems. With BankBI, the implementation team maps your data to its banking model once, and your team then confirms the reconciled results. For Fiserv DNA, data comes through a DNA query, with no dedicated connection to build.

Does the Software Need IT Involvement, or Can the Finance Team Manage It?

BankBI is set up for the finance team to use: its own team does the data mapping, and the cloud service needs no upfront investment in infrastructure. Your IT lead still helps at the start, to confirm access to the core and general ledger. Some planning suites are built for finance to run after setup, while data warehouses usually call for analysts.

Does Financial Performance Management Software for Community Banks Integrate with FDIC Call Report Data?

Call Report data and daily reporting do different jobs. Banks file the Call Report quarterly, and with certain exceptions the data is public through the Federal Deposit Insurance Corporation (FDIC), so it suits comparing banks quarter by quarter. Daily management runs on your own core and general ledger data. Ask any vendor whether it offers peer reports on Call Report data, and which quarter they reflect.

Can It Replace Excel for Both Daily Reporting and the Monthly Board Pack?

Yes. BankBI replaces spreadsheet-built reporting with automated daily reports of the balance sheet and income statement, and builds the board pack and monthly management reports from the same figures. The budget can move out of Excel too, into Planning, Budgeting & Forecasting. If you’d rather keep Excel as the interface, Vena covers that, with a central model behind it.

Making the Right Financial Performance Choice for Your Community Bank

If your main problem is late reporting built by hand, and a budget that sits apart from the actuals, BankBI gives your finance team daily statements, the board pack, and the plan from the same core and general ledger data.

Every option in this guide takes some manual work out of turning system data into figures for decisions. The difference is which job each one takes on:

• Daily reporting platforms report the numbers every day.
• Planning suites forecast them: choose one when the budget and interest rate risk are the main concern.
• Planning inside Excel keeps the spreadsheet: choose it when your team wants to stay in Excel.
• Data warehouses hold data from many systems: choose one when analytics must reach well beyond finance.

Some jobs sit alongside BankBI rather than in place of it. Outsourced asset liability management produces interest rate risk studies for the ALCO, and a data warehouse can feed BankBI while serving analysts across the bank.

Why BankBI Is the Right Choice for Community Bank Financial Performance Reporting

BankBI is the right choice for community banks that want to see performance during the month and plan from the same figures.

• Daily figures: it turns core banking and general ledger data into a daily balance sheet, income statement, and dashboard of the ratios you track.
• One set of numbers: the board pack, monthly management reports, and the budget come from the same data.
• Named connections: data arrives through pre-built connections, such as a DNA query for Fiserv DNA.
• Checked data: core banking data is reconciled with your general ledger.
• Branch detail: branch and loan officer reporting sits in the same platform, with role-based access.

For your CFO, that means the figures behind the board pack are available every day, not only after month-end. And because BankBI’s team handles the data mapping, your finance team gets daily financial reporting without building it.

To see your own figures in BankBI, book a consultation with BankBI.