From Numbers to Narratives: The Power of Storytelling in Financial Reporting

Financial institutions generate vast amounts of data, but raw numbers fail to provide clear, actionable insights. To put that data to use, financial leaders must translate complex financial information into a format that empowers strategic decision-making. Visual storytelling uses data visualizations to create informative, engaging, and — most importantly — easy-to-interpret reports.  

CB&S Bank recently embraced visual storytelling in financial reporting. Based in Russellville, Ala., CB&S was founded in 1906 and today has more than 55 branches in Alabama, Mississippi, and Tennessee. The bank’s recent experience highlights how visualizations can enhance decision-making, drive engagement, and create a data-driven culture within a financial institution. 

A total data transformation   

When its previous reporting platform was sunset, CB&S Bank took the opportunity to implement a tool that could improve efficiency and provide deeper insights through enhanced visualization tools: Axiom™ Visual Insights.

Beyond merely replacing its previous reporting system, CB&S Bank aimed to transform the way it used data within the institution. With Visual Insights, the bank could access automated, interactive dashboards with timely insights, reducing time spent on financial analyses while making the information easier to understand to inform decision-making.  

Visual Insights provided a natural extension of the bank’s Axiom™ Planning solution, both of which provide a path to integrate other budgeting capabilities, such as forecasting, funds transfer pricing (FTP), and relationship profitability.  

The impact of visual storytelling

CB&S Bank implemented Visual Insights in a phased approach, focusing first on immediate needs by incorporating balance sheets, income statements, and variance reports in the new platform. While the bank continues to add data and incorporate functionality into the solution, leaders have already seen substantial efficiency gains.  

By replacing traditional reports with interactive dashboards, bank leaders can simply refresh reports to see updated information. Executives now have instant access to the latest performance metrics, allowing them to identify trends and make strategic decisions more efficiently. 

“The executive team is just amazed by the speed,” said Sabrina Jerrolds, Senior Vice President and Controller at CB&S Bank. “They really like that they can get all the financials for every branch, and drill in and look at how individual teams are doing.” 

Branch managers who previously had limited visibility into financial trends now have access to intuitive reports that highlight variances and performance metrics in an easily digestible format. Jerrolds said there has been an increase in accountability at the branch manager level as a result. 

“We want to put the branch managers in the driver's seat,” she said. “It has brought a lot more awareness. They’re looking more to make sure they’re hitting their production and budget targets.”  

The Axiom solutions have allowed branch managers to take ownership of their financial planning rather than relying on top-down budgeting models. By making forecasting tools more accessible and intuitive, CB&S Bank is fostering a more collaborative approach to budgeting, leading to more accurate and strategic financial planning. 

Real-world applications of visual reporting

CB&S Bank’s visual storytelling improved several key financial processes, including:  

Board reporting:

In the past, the bank found it time-consuming to prepare board reports, but bank leaders can now pull those reports with a single click. “All you do is hit refresh and put the new month in, and it calculates it out,” Jerrolds said. 

Loan and deposit tracking:

Managers use variance reports to track loan and deposit movements, both at a granular level and within broader trends. Banks need to be able to see deposit trends over time, as well as funding sources. Axiom enables bank leaders to segment the data in numerous ways to more clearly see that story.  

Expanding relationships:

Axiom also enables customer and household-level tracking. By mapping customer relationships visually, CB&S Bank can identify cross-selling opportunities and improve relationship management.  

“We’ve showed Axiom to our salespeople, and they’re really excited,” Jerrolds said. “It allows them to understand what our customers are doing and what their needs are, so they can prepare for those conversations and build those connections.”  

Assessing profitability:

CB&S Bank aims to next pull FTP information into the model. “That way, we can look at a snapshot of our customers and identify which accounts are profitable and which ones are not, and use that information to help shape our strategy,” Jerrolds said. 

The profitability insights will allow the bank to stack-rank departments, branches, or lines of business based on net income or other contributions to the organization. By analyzing FTP charges on loans and credits on the deposit side, organizations can understand the source of profitability.  

Better storytelling, better decisions 

As CB&S Bank continues to refine its reporting capabilities, bank leaders plan to incorporate more advanced profitability analysis, risk assessment visuals, and deeper insights into customer behaviors. The institution’s experience demonstrates that visual storytelling is more than a reporting tool — it’s a strategic asset that empowers financial institutions to operate more effectively. 

“As we continue to build out our capabilities, it's going to drive even more change and efficiencies,” Jerrolds said. 

Embracing visual storytelling can help financial institutions take a step toward greater clarity, strategic decision-making, and sustained growth. By leveraging interactive data visualization, institutions can transform numbers into narratives, making financial insights more meaningful and actionable for everyone involved.  

To learn more about Axiom Visual Insights, visit our website or schedule a demo.