From Client to Investor: FVCBankcorp, Inc. Partners with KlariVis
ROANOKE, Va.–(BUSINESS WIRE)–#analytics—KlariVis, a unique and proprietary data analytics software platform developed by bankers for bankers, announced today that FVCBankcorp, Inc. has made a strategic investment into the company. FVCBankcorp, Inc., the parent company of FVCbank, a $1.82 billion commercial bank headquartered in Fairfax, Virginia, with branches in Virginia, Maryland, and D.C., has found the KlariVis data analytics platform of such value and its impact on operations so meaningful that it has become the company’s first bank investor.
From its inception in 2007, FVCbank has been committed to using technology to improve performance. “As a high performing, fast growing bank, we understand the importance of access to data to make decisions and provide responsive, quality service to our customers,” noted FVCbank President Patricia A. Ferrick. FVCbank signed on with KlariVis as a Beta partner in early 2020 to solve this challenge and almost immediately began talking about investing in the company. “We see the value KlariVis brings to our team, and we are thrilled to be part of it,” Ferrick said.
KlariVis empowers community financial institutions by integrating transformative data from various core and ancillary systems, turning it into interactive data visualizations, allowing the entire organization to quickly interpret and act upon the high-value data that is important to serve its customers. Consumers are coming to expect hyper-personalized communication and recommendations from their financial institution. KlariVis enables its clients to create “contextual intelligence” that can be deployed across the organization and leveraged for consistent multichannel experiences to generate sales, increase loyalty, and reduce operating expenses.
Kim Snyder, CEO & Founder of KlariVis stated, “FVCBankcorp’s decision to invest into KlariVis is a huge win for our company. Our vision is to provide a best-in-class data analytics solution through innovation that excites, engages, and transforms organizations. I’m not sure what could be a better testament to that vision, than to have a top-tier, innovative, forward-looking financial institution as a client who says, I want to be more than a client. I want to be your partner.”
Ferrick added, “As a bank in a vibrant market on a strong growth trajectory, we see the KlariVis platform as an opportunity to improve our performance, to do things more efficiently, to have the information we need at our fingertips without having to commit a lot of internal resources. The platform is already an essential part of our operations, and everyone who has used it has embraced it. It feels good to have our whole team get behind it. KlariVis checked all the boxes and getting in on the ground floor made sense.”
With the investment, Ferrick has taken a seat on the KlariVis advisory board. “FVCbank’s representation on our advisory board adds another level of credibility and accountability,” Snyder noted. “We are bankers, and we see that as our differentiator. We have a large technology team, but our banking team drives our product. Having Trish on our board reinforces our commitment to ensuring our product is and remains, built by bankers for bankers. From her first meeting, she has made a meaningful contribution and I personally am thrilled to have her as an advisor.”
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 FVCBankcorp, Inc.
FVCBankcorp, Inc., is the holding company for FVCbank, a wholly-owned subsidiary that commenced operations in November 2007. FVCbank is a $1.82 billion asset-sized Virginia-chartered community bank servicing the banking needs of commercial businesses, nonprofit organizations, professional service entities, their owners and employees located in the greater Baltimore and Washington D.C., metropolitan areas. FVCbank is based in Fairfax, Virginia, and has 9 full-service offices in Arlington, Fairfax, Manassas, Reston and Springfield, Virginia, Washington D.C., and Baltimore, Bethesda, and Rockville, Maryland. For more information, visit www.fvcbank.com.