Momentum continues to grow for leading data analytics provider by entering partnership with renowned banking consultancy group
ROANOKE, Va.–(BUSINESS WIRE)–KlariVis, a unique and proprietary data analytics software platform developed by bankers for bankers, today announced its strategic alliance with The Kafafian Group, Inc. (“TKG”), a process improvement, strategy, financial advisory, and outsourced profitability consulting firm for the financial services industry. TKG has identified KlariVis as its premier data analytics software partner to assist in TKG’s vision of helping financial institutions improve their profitability.
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; increases a bank’s ability to effectively cross-sell the most profitable products; and provides insight into the level of customer engagement.
“The Kafafian Group has a deep understanding of the challenges facing community banks today, and their inability to quickly and easily analyze their data to make decisions that drive revenue, manage risk and streamline operations,” says Kim Snyder, founder, and CEO of KlariVis. “TKG recognized the immediate impact KlariVis will have for their clients.”
Headquartered in Bethlehem, Pennsylvania, TKG has worked with over 500 financial institutions in more than 40 states ranging in assets sizes from $16 million to over $100 billion. The consultancy is dedicated to helping banks drive profitability by delivering meaningful information and analysis and identifying operating efficiencies.
“Our synergy with KlariVis is largely in performance measurement,” said Jeffrey Marsico, President of The Kafafian Group. “Every strategic planning meeting we have performed with our clients has led to a discussion around data and how to leverage it more efficiently to improve performance. It is easy to recognize this is a prolific problem across the banking industry. We see KlariVis as the optimal solution.”
“The data banks currently have access to is of little value until it is transformed into meaningful information that is delivered in an easy to interpret format,” added Richard Trauger, Jr., Managing Director at The Kafafian Group. “The power of the data lies in knowing where to find it, how to clean it, organize it, relate it, visualize it, and ultimately use it. Many financial institutions don’t have the knowledge or tools to do that. KlariVis conquers all of this with one easy-to-use solution.”
KlariVis improves financial institutions’ efficiencies by integrating with various core and ancillary systems to compile and aggregate high value data presenting it in easy to interpret interactive visual dashboards. Financial Institutions of all sizes now have access to the data they need to meet the expectations of today’s banking customers and, as a result, increase their overall profitability.
As community banks and credit unions continue to struggle to remain relevant in today’s emerging world of financial disruptors and megabanks, they, unfortunately, also continue to see a steady decline in new accounts. Marsico attributes this to a lack of access to the data needed to easily interpret their customers’ needs and act upon it quickly.
“There is a certain comfort to maintaining success rather than evolving,” Marsico states. “But fear of irrelevance should drive community banks’ and credit unions’ strategic decision making. We know the best banks of the future won’t be spit-balling strategies. They will need actionable data to be a better organization for their customers, communities, and employees. KlariVis is instrumental to the future of banking by providing access, insight, and clarity to their transformative data.”
Snyder, could not agree more stating, “I am elated to collaborate with The Kafafian Group not only from the performance management perspective and bringing that into KlariVis, but also in using KlariVis to develop and implement data strategies to better serve their customers and ultimately drive the bottom line.” Snyder continued, “TKG brings great value to their clients by helping them understand why data intelligence is instrumental both strategically and tactically. Financial institutions who use KlariVis will gain the data clarity needed to not only operate more profitably but also remain competitive and relevant in today’s changing environment.”
Marsico’s closing statement solidified the true significance of TKG’s partnership with KlariVis stating, “We have always invested our net worth in ourselves, ever since our existence. This is the first time we have invested our net worth in someone else.”
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. For more information visit www.KlariVis.com. Follow us on Twitter, LinkedIn, or Facebook.
About The Kafafian Group, Inc.
The Kafafian Group, Inc. is a finance, strategy, and operations consulting firm that specializes in strategic and business planning, financial advisory, performance measurement, profitability outsourcing, regulatory assistance, and profit and process improvement for the financial services industry. TKG’s seasoned industry professionals individually average over 25 years of experience serving the banking industry. Over the past 30 years, TKG has worked with over 500 financial institutions in over 40 states ranging in asset size from $16 million to over $100 billion. For more information visit www.kafafiangroup.com and follow TKG on LinkedIn.