Merchants National Bank and Teslar Software recently announced their partnership in order to streamline the banking institution’s lending processes, “replacing manual tasks with robust automated workflows and supporting strategic growth efforts.”
Linda Smith, VP and head of credit administration at Merchants National Bank, said:
“As we’ve continued to grow, recently crossing the $1 billion dollar threshold, it was clear that Excel spreadsheets and largely manual processes would no longer fit our evolving needs. Teslar solves these pain points, incorporating sophisticated technology and automation to save time and reduce the risk of human error. We are confident that the efficiencies gained through Teslar will support us as we enter new markets.”
Merchants National Bank has “a diverse loan portfolio, offering commercial, real estate and agricultural lending.”
With Teslar, the bank will “gain more transparency into their portfolio to understand the status of individual loans quickly and easily.”
Teslar will also “reduce time that is spent on reporting and tracking exceptions, freeing employees to focus more on strategic initiatives.”
Joe Ehrhardt, CEO and founder of Teslar Software, said:
“Merchants National Bank has prioritized the needs of local customers and businesses for over 144 years, and we look forward to supporting the bank as they optimize their lending process. We are excited to partner with them to help create efficiencies and maintain a close pulse on borrower needs and opportunities as they grow.”
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.”
Named Best Solution for Lending by the 2021 FinXTech Awards, Teslar Software claim that they continue “to earn their reputation as a top technology provider for community institutions.”