Fintech Firm Teslar Software Helps First Pryority Bank Streamline Operations

First Pryority Bank, a member FDIC bank, and Teslar Software announced their partnership “to expedite and streamline processes across the bank’s loan department.”

The Pryor Creek, Okla.-based bank has “grown substantially over the past three years and will leverage Teslar’s lending automation software to help support their ongoing growth goals.”

Abbie Bowen, executive VP of credit at First Pryority Bank, said:

“We pride ourselves on being a home-grown community bank, helping our customers handle all of their retail and business banking needs with speed, ease and a personal touch. Teslar’s technology, starting with pipeline and exceptions management tools, will allow us to move more quickly and remove any roadblocks. We aim to reach $500 million in assets over the next three years, and we’re confident Teslar’s technology will help us get there.”

With Teslar, First Pryority Bank will “be able to easily track exceptions and upload documents, delivering greater transparency into customers’ portfolios.”

Tasks that were previously time and labor intensive, “such as entering data, will be automated through Teslar’s workflows.”

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

“By leveraging Teslar, First Pryority Bank is providing their lenders with the advanced tools needed to more effectively serve their community, building deeper, more meaningful customer relationships. We are proud to partner with them as they continue to focus on strategic, growth-oriented initiatives, offering a better experience for borrowers and lenders.”

As noted in the update, 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.”

As covered last month, Quaint Oak Bank and Teslar Software announced their partnership to enhance the bank’s commercial lending strategy.

The $750 million-asset community bank will “leverage Teslar’s full suite of automated workflow and portfolio management tools to improve the lending process for both lenders and borrowers.”

William Gonzalez, EVP of Quaint Oak Bank, said:

“We care about our customer experience and have aggressive growth goals so it was important that Teslar’s technology support the entire lending process from beginning to end, from origination to pay off. Teslar is a one-stop shop, allowing us to digitize the comprehensive lending process with a single, trusted partner. We’re confident Teslar’s automated workflows and modern technology will help us expand our geographic reach and provide our customers with a great digital experience.”

Teslar will “enable Quaint Oak Bank to increase transparency across departments, providing greater visibility into customer portfolios.” Through Teslar’s digital customer portal, customers can “apply for loans online, securely upload documents, and easily monitor the status of their loans.”

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