Midwest BankCentre has acquired an analytics firm and appointed its owner, Kelvin Taylor, to run the bank’s new subsidiary, Rising Analytics.
After discussing the bank’s needs with chairman and CEO Orvin T. Kimbrough, Taylor said he became the bank’s chief information officer in November 2019, while also acting as managing partner of Taylored Analytics. Taylor and his wife, Tamila Taylor, founded Taylored Analytics and ran the data company for 12 years.
“I continued to talk about the variety of things that Taylored Analytics could do to support Midwest Bank, Orvin and I sort of agreed that there might be a bigger opportunity,” Taylor said. “Not only beyond just supporting Midwest BankCentre and their data analytics needs, but also supporting the data analytics needs of Midwest BankCentre’s commercial clients.”
On March 31 the bank acquired Taylored Analytics and rebranded it to Rising Analytics. Both companies share one goal: accelerating organic growth for its clients.
“Our value proposition to our clients is to identify ways to help them grow faster by leveraging data without going and having to buy a company to grow,” he said.
Taylor said the acquisition will provide the bank’s customers with additional resources. The bank has a relationship with about 8,000 businesses; most of those are small to medium-size businesses.
“So when Midwest BankCentre, a community bank, talks about rising together, which is the motto of the mission of the bank, we're talking about helping not only consumers in our community, but also small and midsize businesses in our community be more profitable.
“And we think at the end of the day, that that helps build a stronger community, and the community that Midwest BankCentre serves. Small businesses are responsible for the majority of employment and the economy. So we think helping small to midsize businesses is a key to economic growth for the St. Louis metropolitan area.”
Taylor also pointed out that while the acquisition means the analytics company is no longer minority owned it will remain minority-led.
“There are not a lot of African Americans that are in the big data, data science field,” he said. “So we are particularly proud of our representation of people of color in that field.”
Taylor earned his bachelor’s degrees in economics and mathematics at Morehouse College and his post-graduate degree in economics at University of Maryland, College Park, Maryland. He has served locally on the United Way and Urban League boards of directors.
“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,” Kimbrough wrote in a statement. “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 midsize businesses and nonprofits.”