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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

SimplyBank Selects KlariVis to Lead Its Data Analytics Initiative

December 21, 2020 GMT

ROANOKE, Va.--(BUSINESS WIRE)--Dec 21, 2020--

KlariVis, a unique and proprietary data analytics software platform developed by bankers for bankers, announced that, Tennessee based SimplyBank selected KlariVis as its data analytics platform to provide daily insights into their high-value customer data across the organization. The bank, with approximately $685 million in assets together with its jointly-owned sister organization Community National Bank, operates a combined 13 retail branches across five Southeast Tennessee and two Northwest Georgia counties.

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In recent years, SimplyBank has made several significant changes throughout the organization ranging from senior and executive leadership changes, to product and process improvements, with the most significant being in 2021 coming-together with its sister organization Community National Bank. These changes left the organization struggling to access their transformative data efficiently while also maintaining data integrity.

“We are making strides in ensuring data integrity,” states Cara Roberson, CFO at SimplyBank and Community National Bank. “But we still need that critical reporting piece to allow us to easily access the right information to run the business effectively and efficiently.”

Previously, the bank utilized a third-party reporting system, but the program fell short on delivering a comprehensive understanding of the needs of bankers. “The fact that KlariVis was designed by people who know banking, that was one of the biggest differentiators,” said Roberson. “Knowing the KlariVis team’s experience in the banking industry gave us confidence that they understood the types of reporting our team needs to see.”

KlariVis empowers community financial institutions of all sizes to operate more efficiently by compiling high-value data and delivering it in interactive and visualized dashboards that are updated daily. The advanced reporting capabilities offer a holistic view of the entire organization. With KlariVis, bankers now have the ability to quickly and decisively interpret data at the branch, market, officer, product and customer levels creating a more strategic and streamlined organization.

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“Our leadership team is comprised of veteran community bankers who understand the challenges bankers face every day in accessing and interpreting their data” said Kim Snyder, Founder and CEO of KlariVis. “We developed KlariVis with these specific banking needs and challenges in mind. With KlariVis, banks of all sizes can easily access their transformative data and quickly analyze it to make actionable decisions that will drive overall profit.”

KlariVis’ ability to provide insight into key performance metrics such as loan and deposit revenue growth, marketing and sales efforts, and customer engagement were another key selling point in SimplyBank’s decision to partner with KlariVis. “It will be extremely insightful to have reliable data in a dashboard format so our managers can easily see the key performance indicators they need in order to effectively manage their departments,” said Roberson, adding, “The platform’s readily-available reports will exceed our needs without requiring us to manipulate the data and ask for time consuming custom reports to be built.” Put “simply”, KlariVis allows SimplyBank to focus on strategic decision making rather than cumbersome report writing.

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. For more information visit www.KlariVis.com. Follow us on Twitter, LinkedIn or Facebook.

About SimplyBank

SimplyBank is a premier provider of community banking and financial services based in Rhea County, Tenn. Deeply-rooted with 130 years in operation, SimplyBank today operates across five Southeast Tennessee counties and offers retail consumer and business banking solutions at seven full-service branch locations, including: Benton, Tenn.; Dayton, Tenn.; Decatur, Tenn.; Harriman, Tenn.; Rockwood, Tenn.; Spring City, Tenn.; and south Dayton, Tenn. SimplyBank also operates loan production offices in Cleveland, Tenn., and Knoxville, Tenn. Pairing hometown service with state-of-the-art technology, SimplyBank offers customers round-the-clock options at its convenient ATM locations and via the SimplyBank mobile banking application. SimplyBank is an equal housing lender and member FDIC. For more information, visit www.mysimplybank.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201221005566/en/

CONTACT: MEDIA:

Amanda Miller

amandamiller@klarivis.com

540.988.6749

KEYWORD: VIRGINIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY FINANCE SOFTWARE BANKING

SOURCE: KlariVis

Copyright Business Wire 2020.

PUB: 12/21/2020 11:14 AM/DISC: 12/21/2020 11:14 AM

http://www.businesswire.com/news/home/20201221005566/en