Former bankers provide a data analytics platform that breaks down barriers, revealing transformative, actionable data.
KlariVis, a unique and proprietary data analytics software platform developed by bankers for bankers, announced today from the Independent Community Bankers of America’s ® (ICBA) 2020 National Convention, ICBA LIVE® that Touchstone Bank, $468 million in assets; FVCbank, $1.54 billion in assets and Pioneer Bank, $228 million in assets all have selected KlariVis for their data analytics platform. KlariVis compiles and aggregates high-value, actionable data to provide community banks timely insights into factors that drive loan, deposit, and revenue growth; better transparency into the results of sales and marketing efforts; and increases a bank’s ability to effectively cross-sell the most profitable products.
“KlariVis is an easy-to-use solution built by successful bankers who understand community banking and is set to play a pivotal role in our bank’s core strategy,” said Joseph Pennington, EVP, and CFO of Touchstone Bank, headquartered in Prince George, Va. “The solution enables community banks, like us, to compete at the same strategic level as the megabanks without having to navigate business intelligence from the ground up.”
To date, six financial institutions have selected KlariVis as their data analytics solution, and more than 80 community banks from 32 states have requested to take the next step in the engagement process. A defining differentiator, KlariVis gives bankers visibility into key data elements on visualizations that are easy to navigate and interpret to provide users with immediate, actionable insights. With KlariVis, banks such as Touchstone gain understanding into overall components influencing their institution such as deposit account growth, fee income, loan growth and trends, customer engagement levels, credit quality trends, financial results, and more.
“As former bankers turned consultants, the KlariVis leadership team has spent the past four-plus years working with community banks in a variety of areas,” said Kim Snyder, CEO, and founder of KlariVis. “One challenge, above all others, continued to pop at every client we visited. Regardless of size, core system, or level of sophistication of IT departments, our clients were frustrated with getting the right data, in the right hands, at the right time, to make impactful decisions. KlariVis has been developed with input from many of our bank consulting clients to solve this very issue, and we are thrilled to have six clients on board and many more who are enthused to take the next step.”
KlariVis delivers high-value data seamlessly without specialized training or additional staffing requirements. With an easy-to-navigate interface, KlariVis transforms cumbersome traditional reports into an interactive visual experience with minimal page turns. FVCbank headquartered in Fairfax, Va. and Pioneer Bank of Stanley, Va. quickly realized one visualization in KlariVis provides more intelligence and actionable data than five traditionally prepared reports can show, which allows them to quickly and easily identify areas of focus. Snyder added, “We are all familiar with the saying that ‘data is the new oil.’ KlariVis delivers the refined version to our banks, in a simple, easy-to-use solution.”