Rosedale Federal Savings and Loan Selects KlariVis Data Analytics Platform

KlariVis, a unique and proprietary data analytics software platform developed by bankers for bankers, announced that Rosedale Federal Savings & Loan Association (Rosedale Federal) 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.  Based in Baltimore, Md., Rosedale Federal has $1 billion in assets and operates 9 branches.

According to Rosedale Federal’s President and CEO, Kevin Benson, the bank was searching for a data analytics platform that would be able to support the bank’s short-term and long-term goals associated with the organization’s strategic initiative to leverage data to drive the bank’s decisions.

“Like many community banks, Rosedale Federal’s challenge was not lack of data, in fact, the bank has a plethora of information in multiple systems across the organization,” Benson said. “Unfortunately, because the systems are siloed and disparate, we are not able to fully leverage this data in a meaningful manner. We were seeking a solution that would provide efficient access to data and would help us better understand customer needs, market trends, and drive our decisions.”

KlariVis empowers community financial institutions to make more strategic and better-informed decisions by uncovering and providing access to their transformative data. KlariVis provides advanced report capabilities, offering a unique, holistic view of the entire organization including relevant branch, market, officer, product, and customer information in easy to digest, multidimensional views.

“We initially met with the KlariVis team at the ICBA Live conference in March,” Benson said. “We were very impressed, but still spent several months examining what we thought were competitive solutions to ensure we selected the best platform for our needs. What we discovered was that KlariVis is the only platform that provides powerful data science and visualization tools we were seeking, and also focuses exclusively on community banks. We actually could not identify a true competitor in the market.”

Benson continued, “We wanted a partner that would be completely focused on the banking space and the challenges in this sector, and we didn’t see that in other data providers that were more general. To make one of these other platforms successful in a bank environment would have required a tremendous amount of resources. Essentially it can be compared to bringing a data scientist on board, but then having to teach them the banking industry. KlariVis provides data science and bank expertise.”

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 Rosedale Federal 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.

“KlariVis provides interactive data visualizations which is extraordinarily important and powerful,” Benson added. “We expect an immediate return with respect to both our board members and our executive team; having the ability to visualize the data is more impactful than simply presenting the numbers. Currently, employees, branch managers for example, have to request specific reports from our corporate office to access any type of data. These static reports are tedious to compile and equally as tedious to analyze and interpret; they are not actionable. With KlariVis, employees across the bank will have immediate access to the information they need to do their job functions. KlariVis will allow our executives to make real-time decisions based on global factors across the organization, as well as enable our front-line employees to drill down to customer-level data and provide a more tailored personalized service.”

“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 partner with Rosedale Federal on this initiative.”

About KlariVis

Created by veteran community bank executives, KlariVis was developed to enable institutions of all sizes to access their transformative data in an efficient way, interpret it, and act decisively on it. The KlariVis team has more than 100+ years of community banking experience and aims to provide financial institutions with a data analytics platform designed to solve the data conundrum that is prevalent in the industry today. To learn more visit www.klarivis.com and find KlariVis on Twitter and LinkedIn.

About Rosedale Federal

For 112 years, Rosedale Federal Savings & Loan Association (Rosedale Federal) has been serving Baltimore City, Baltimore County and Harford County residents with unparalleled personal service and high-quality savings and loan products at competitive rates. Headquartered, in Perry Hall, Maryland,  Rosedale Federal is a locally run, independent mutual savings and loan institution with 9 total locations. Branch locations are in Perry Hall, White Marsh, Abingdon, Forest Hill, Bel Air, Rosedale, Overlea, Dundalk and Towson. In 2019 the bank donated over $500,000 to numerous area organizations and causes. Rosedale Federal continues to be the community bank that treats its customers like neighbors. Visit www.rosedalefederal.com for more information about products, services or locations. Find Rosedale Federal on Facebook and LinkedIn.

KlariVis Welcomes New Chief Technology Officer

Experienced technology executive Art Lucia joins leading data analytics platform to meet growing demand

ROANOKE, Va., July 14, 2020 –  KlariVis, a unique and proprietary data analytics software platform developed by bankers for bankers, announced that Art Lucia has joined the company as Chief Technology Officer. Lucia, also a co-founder of InfernoRed Technology, has been leading the technology development of KlariVis since the Company’s inception in February of 2019, as an outsourced consultant through InfernoRed Technology.

A seasoned technology professional, Lucia brings more than 20 years of experience delivering custom, high-value software solutions, focusing on safeguarding critical data and innovation to help clients overcome complex challenges. As Chief Technology Officer for KlariVis, Lucia is responsible for providing strategic guidance for all technology and engineering-related decisions, including product roadmaps, to meet the growing demand for KlariVis among financial institutions.

“I’m thrilled to join the company as its first Chief Technology Officer,” Lucia said. “The evolution of the product from just one year ago is phenomenal and the excitement from our community bank clients is growing by the day. My approach to software development is first and foremost, driven by the business challenge presented. This approach fits perfectly within the KlariVis model, where the company’s leadership team is comprised primarily of veteran community bankers, who understand from first-hand experience the banker pain points resulting from the many disparate data sources that bankers are forced to deal with. As such, KlariVis is in an ideal position to deliver an exceptional experience and solution to financial institutions and I am excited to have the opportunity to help maximize the company’s future growth and profitability.”

“With Art as our CTO,  KlariVis is now positioned to more effectively and efficiently deliver modern data analytics tools and dashboards designed to enable financial institutions of all sizes to access their transformative data in an efficient way, interpret it, and act decisively on it,” said Kim Snyder, CEO and Founder of KlariVis. “Expanding our technology team is paramount to our strategic growth and our team starts with Art. With his keen business acumen and in-depth technology knowledge, coupled with the company’s 100+ years of banking experience, we can strategically position KlariVis as the must-have tool for bankers that are ready to free up the gray space for strategic decision making, rather than report creation.”

KlariVis Raises $2.5 Million in Oversubscribed Seed Round

ROANOKE, Va.–(Business Wire)–KlariVis, a unique and proprietary data analytics software platform developed by bankers for bankers, today announced it completed an oversubscribed $2.5 million seed round primarily from prominent angel investors in the Roanoke, Va. region, where KlariVis is headquartered. This investment further validates the growing demand for KlariVis and accelerates growth.

KlariVis CEO and Founder, Kim Snyder, said, “We are grateful for this affirmation and backing of investors who share our vision to equip and empower community banks with actionable data to better engage with customers and more effectively compete in today’s digital environment. I am a banker at heart and am passionate about helping community banks.”

Officially launched nationally in January 2020, KlariVis solves the data conundrum in the banking industry by compiling and aggregating high-value, actionable data in an automated fashion, enabling financial institutions to make more strategic and profitable decisions. It provides improved and timely insight into factors such as deposit, loan and revenue growth, enabling community banks to make data-driven decisions across their entire organization, providing a significant competitive advantage in today’s market.

James S. Frantz, Jr., retired president and CEO of Graham-White Manufacturing, invested in KlariVis and currently chairs the company’s advisory board. When asked about his reasoning for investing, he noted, “As a prior Valley Bank/Valley Financial Corporation board member, I remember the voluminous pages and pages of information that we had to sort through each and every month to get an understanding of the bank’s progress and success. When Kim showed me KlariVis, it made perfect sense and knowing her and her team, I immediately wanted to be involved.”

George Coffman, a former bank executive with 37 years experience in the industry, also serves on the advisory board and is one of the initial investors in the company. “As soon as I saw the demo of KlariVis I immediately recognized the incredible value that this solution would provide to fill the information void that exists at banks of nearly any size. Most banks are filled with enormous amounts of customer and transaction data, but do not have an efficient and easy-to-use tool to turn that data into actionable information that enhances the decision-making process.”

Coffman continued, “The solution was developed by former bankers with knowledge of how decisions are made in an organization, so they tailored the product to meet those needs. Having worked at numerous financial institutions varying in asset size, it was immediately apparent the market potential for KlariVis; the future for the company is limitless, and I was pleased to be able to invest during the early stages of its development.”

Joining Frantz and Coffman on the KlariVis advisory board are Michael Wise, retired CFO, Corvesta Inc., Dr. William (“Eddie”) Amos, software engineering executive, product strategist and technology evangelist, and David Snyder, CPA, retired senior partner with Brown Edwards & Company., L.L.P.

Snyder added, “The overwhelming amount of interest and excitement we continue to receive from community banks demonstrates the dire need for KlariVis. We currently have more than 170 banks at various stages in our sales pipeline. This investment enables us to accelerate and scale our growth plan, helping more community banks get the right data in the right hands at the right time to make the right decisions for their organization.”

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KlariVis Continues to Build Momentum

Former bankers provide 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.”

For more details about KlariVis, meet the management team at booth 253 at ICBA Live 2020. Additionally, Snyder and chief revenue officer Jeff Harper are discussing why data should be a top strategic priority for 2020 at a Whiteboarding session on Monday, March 9 at 12:30 pm ET.

 Business Wire

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