Posted12/19/2024 2:02:00 PM

https://klarivis.com/insight/article/the-truth-about-data-quality-in-banks/?&utm...

A robust data platform can transform your bank’s data quality with one specific stipulation: It must be paired with the right top-down approach that encourages and empowers every banker to own the data they use.

While we know that KlariVis can be a key enabler for success in data transformation, we consistently stress to every client that technology alone isn’t enough — it’s how your people use and embrace the technology that truly drives lasting results. Building a culture of data stewardship among your leadership team is essential to ensuring that the platform delivers maximum impact. When everyone across an organization works from the same playbook, there is a shared sense of pride and ownership, and teams collaborate more effectively. This unified approach allows banks to hold their employees to higher standards around data quality.

Here are a few of the lessons we’ve learned when it comes to approaching data stewardship as a bank leader:

Posted12/11/2024 2:51:28 PM

https://klarivis.com/insight/article/optimizing-data-strategy-through-resource-a...

One of the more compelling truths about data in banking is that most institutions already possess all the data they need to drive change at their organization.

The issue? Most are missing the key to unlock it.

We’ve often seen that banks will try to add more to improve their data strategy after gaps are identified — more staff, more systems, more enhancements, more data. But doing so can be akin to putting a band-aid on a broken bone if they’re not focusing on the right problem.

Banks typically don’t need to add more to the equation, they need to strengthen what they already have internally by centralizing their data and setting efficient processes in place around it.

Two KlariVis clients, Raymond Goodrich, EVP & Chief Lending Officer of Bank of Charles Town ($870 million in assets out of Charles Town, WV) and Jim Donnelly, President & CEO of Wayne Bank ($2.28 billion in assets out of Honesdale, PA) recently addressed a room full of bank executives at the inaugural KlariVis...

Posted12/2/2024 3:13:27 PM

https://klarivis.com/insight/article/unlocking-harmony-how-data-unites-your-bank...

The success of a financial institution, especially a community bank, hinges not just on its strategic initiatives but also on the cohesion of its management team, empowered by a data-driven C-suite. A unified management team can drive innovation, eliminate silos to improve efficiency and enhance decision-making. One of the most powerful tools to achieve this unity is data. By leveraging data analytics and business intelligence solutions effectively, community banks can foster a collaborative environment where every decision is informed, transparent, and aligned with the organization’s strategic goals.