First Texoma National Bank and Teslar Software announced their partnership to enhance the bank’s commercial lending processes. The Durant, Okla.-based bank will leverage Teslar’s lending process automation platform to create new efficiencies, improve reporting and manage the loan portfolio with ease.
First Texoma will leverage Teslar’s automated workflows and additional portfolio management tools such as exceptions management, annual loan review and construction management. The efficiencies created from Teslar’s technology will be valuable as the bank continues to strategically grow throughout Oklahoma and Northeast Texas.
“The Teslar team’s banking expertise and familiarity with our core infrastructure secured our trust from the beginning,” said Art Stauffer, CEO of First Texoma National Bank. “Teslar’s ability to seamlessly integrate to our core expedites and strengthens tracking and reporting, allowing our team to work more productively. With Teslar, we expect to reduce time handling loan documents by about 70%, freeing up almost an entire FTE to focus on strategic initiatives.”
The transparency Teslar provides will allow the bank to easily access all relevant customer data, eliminating the need to ask for documents or information already in the core.
“First Texoma National Bank is committed to serving its customers and communities. We are excited to partner with them as they seek to improve internal processes,” said Joe Ehrhardt, CEO and founder of Teslar Software. “Teslar helps bankers further differentiate themselves from larger institutions with a careful balance of high tech and high touch. We are proud to support them as they continue to scale.”
Teslar Software, founded in 2008, is a configurable lending process automation platform for community financial institutions. Teslar transforms commercial lending by providing easy access to centralized, relevant information to balance portfolios, optimize profits and help community bankers effectively serve their customers. Named Best Solution for Lending by the 2021 FinXTech Awards, Teslar Software continues to earn their reputation as a top technology provider for community institutions.