Portfolio Management Tools Provider Teslar Software to Help Citizens Bank and Trust with Automating Lending Process

Teslar Software, a provider of portfolio management tools that aggregate and automate the lending process and deposit operations for community financial institutions, reveals that it has teamed up with Citizens Bank & Trust in order to enhance lending processes from “beginning to end.” This should increase overall efficiency and create an improved customer experience (CX).

Plaquemine, La.-headquartered Citizens Bank & Trust initially joined forces with Teslar Software for loan origination and forgiveness during round two of the Paycheck Protection Program (PPP).

By leveraging the latest Fintech solutions, the bank was able to enhance efficiencies and quickly offer small businesses with the funds they required to “get back on their feet,” the announcement noted.

After experiencing the productivity gains from integrating the technology, the bank “decided to leverage Teslar’s suite of automated workflow and portfolio management tools to help them across commercial lending,” the announcement revealed.

Jim Purgerson, CCIM, SVP of Citizens Bank & Trust. stated:

“We’ve been in high-growth mode over the past few years, especially in commercial lending, and Teslar Software will be instrumental in helping manage this growth with efficiency and ease. The team at Teslar Software has made this project as seamless as possible, being there for us and highly responsive through every step of the implementation process. By leveraging Teslar’s technology and tapping into their team’s deep industry expertise, we expect to strengthen our competitive position and solidify our reputation as one of the best community banks in the area.”

With Teslar, Citizens Bank & Trust will be able to eliminate manual, paper-based processes and “leverage automated workflows, reducing duplication and saving time.”

As mentioned in a release, the bank intends to use Teslar to “more precisely track aspects of the lending process such as exceptions and past due loans, freeing lenders to spend more time focusing on the customer.”

Additionally, the Teslar platform will offer greater transparency “across departments, providing increased visibility into each unique customer relationship.”

Joe Ehrhardt, CEO and founder of Teslar Software, remarked:

“Banks like Citizens Bank & Trust will be best positioned to manage their strong momentum by continually evaluating their processes and prioritizing their technology strategy. With the efficiencies gained from Teslar’s platform, they will be able to enhance operations and better serve customers, leading to more new business opportunities and a significant competitive advantage.”

As noted in the release, Teslar Software offers portfolio management tools for community financial institutions that “aggregate and automate lending and deposit operations processes into a single system, enabling institutions to scale and improve all aspects of the bank.”

This software-as-a-service (SaaS) solution with more than 20 modules increases efficiency by offering quick access to “centralized, relevant information to balance portfolios, optimize profits and help community bankers more efficiently serve their customers and better understand their needs.”


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