Midwest BankCentre, Inc. is getting more analytical – and adding yet more Black leadership in the financial sector.
The parent company of Midwest BankCentre, the only regional bank led by an African American, it has now acquired Taylored Analytics to launch a new subsidiary, Rising Analytics. Founded in October 2007 by the husband-wife team of Kelvin and Tamila “Tammy” Taylor, the firm helps small to mid-sized businesses harness their data to drive business strategy and processes. It has worked with Fortune 500 companies in the financial, retail, restaurant, utility and telecommunications sectors.
Terms of the purchase were not disclosed.
Kelvin Taylor joined Midwest BankCentre in November 2019 as executive vice president-chief information officer. He remains in that role, while also serving as managing director of Rising Analytics.
“Kelvin’s strengths in the application of data analytics provide a tremendous advantage to businesses and organizations that want to continually improve the quality and effectiveness of their sales and marketing decisions,” said Orvin T. Kimbrough, chairman and CEO of Midwest BankCentre.
“He is passionate about equipping business leaders to effectively translate their financial goals into well-informed business strategies and actions. We’re excited to make this practical expertise readily accessible to Midwest BankCentre’s clients and other small to mid-sized businesses and nonprofits.”
Kelvin Taylor earned bachelor’s degrees in economics and mathematics at Morehouse College and completed post-graduate studies in economics at University of Maryland, College Park. He has served locally on the United Way and Urban League boards of directors. He and his wife, Tamila Taylor, annually host a charity golf tournament to fund scholarships to Morehouse College, the nation’s top producer of Black males who continue their education and receive doctorates.
Kelvin Taylor said the acquisition is timely and strategic.
“It’s estimated that 90% of all the data in the world has been generated in the last two years. That explosive growth in customer, financial and operational data has changed the way businesses can achieve their goals,” Taylor said.
“But the majority of data projects fail when the data science team is unable to translate ‘geek speak’ to business language or when overly complex models fail to deliver one source of truth within organizations.”
Rising Analytics’ seven-member team focuses on capturing and using reliable data to help small to mid-sized business owners, franchises and nonprofits gain customer insights and automate routine tasks.
“We apply the skills and insights used by industry giants to develop data strategies that deliver actionable insights through advanced analytics,” Taylor said. “Our implementation roadmaps, customer segmentation analyses, sales pipeline scoring and customer profitability analyses help organizational leaders better plan and communicate their priorities, concentrate their brainpower and create stronger futures.”
Midwest BankCentre’s assets exceed $2 billion and deposits total more than $1.5 billion. The bank employs a staff of about 280 working at 18 bank locations in the City of St. Louis, St. Louis, Jefferson and St. Charles counties in Missouri and St. Clair County in Illinois. The bank is a local leader in the St. Louis Regional Financial Empowerment Coalition (formerly the St. Louis Regional Unbanked Task Force) and its Bank-On Save-Up St. Louis initiative.
Rising Analytics is based at the Midwest BankCentre location at 2191 Lemay Ferry Road in St. Louis. For more information, visit https://tinyurl.com/rising-analytics.