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FVCbank Case Study
•
Jun 12, 2023
Implementation
FVCbank started as a de novo bank in 2007, serving the primary markets of Maryland, Virginia, and Washington D.C. FVCbank has grown to reach an asset size of $2 billion and a loan portfolio of $1.5 billion. The bank has utilized KlariVis for over a year, and, says it’s been an easy and beneficial experience from the start.
This is the first bank I have worked for in 30 years where I have data at my fingertips when I want to see it, AND it’s up to date!
Favorite Uses
The Challenge
As a high-performing, fast-growing bank, FVCbank realized the importance of accessing high-value data to inform strategic decision-making and provide quality service to its customers. FVCbank acquired several banks in recent years, and its data needs grew exponentially. The data was siloed in disparate systems and it required a significant amount of resources to consolidate and build reports. The leadership team recognized the need for a solution to improve efficiency and reinforce its data-driven technology culture shift.
Our Solution
KlariVis was implemented within 90 days of contract signing allowing FVCbank to immediately begin reaping the benefits of the platform. Due to the simplicity of the platform, FVCbank was able to begin working in KlariVis after only 10 minutes into training providing instant, up to date actionable data and insights to every level of the bank.
KlariVis consolidated and aggregated FVCbank’s core data as well as ancillary systems that had continued to grow through their many acquisitions giving them a clear view of their institution for the very first time. In an instant, we eliminated historic data and reporting siloes, hours of manual report writing and sifting through email spreadsheets and empowered the entire bank to increase efficiency, make timely decisions, improve customer engagement and overall satisfaction.
