Oklahoma-based community bank partners with fintech to modernize lending
Farmers State Bank Chooses Teslar Software to Increase Transparency and Grow Seamlessly
SPRINGDALE, Ark., October 12, 2022–(BUSINESS WIRE)–Farmers State Bank and Teslar Software today announced their partnership to automate the bank’s commercial lending processes. Teslar’s technology will help the bank efficiently manage its loan portfolio as it grows.
The bank based in Quinton, Okla. partnered with Teslar Software after being impressed with the sophisticated technology and hearing many positive experiences from peer banks. Farmers State Bank plans to first leverage Teslar to better manage exceptions and delinquent loans, and then gradually add other modules.
“Our bank has grown steadily over the past decade, and it was time to automate the manual lending processes we had relied on for years to effectively support this scale,” said Chris Jordan, president of the Farmers State Bank. “Much of our new business is organic, the result of positive customer experiences and positive word of mouth; with Teslar’s automated portfolio management and workflow tools, we will be able to maintain relationships exceptional customers even as we expand. Part of our strategic plan is to remain independent, and Teslar’s technology directly supports that goal.”
The Farmers State Bank offers a wide variety of loans, including agricultural loans, consumer loans, and small business loans. With Teslar, the bank can better serve all segments. Teslar’s dashboard will allow loan officers to more closely track customer needs and provide credit operations staff with a central, intuitive location to complete every step of the loan process.
“We are proud to partner with Farmers State Bank and be part of their technology strategy,” said Joe Ehrhardt, CEO and Founder of Teslar Software. “By automating and streamlining their lending processes, they can continue to provide Oklahoma communities with the financial support and guidance they need while giving employees greater visibility into customer relationships and increasing operational efficiency.”
About Teslar Software
Teslar Software, founded in 2008, is a configurable lending process automation platform for community financial institutions. Teslar is transforming commercial lending by providing easy access to centralized, relevant information to balance portfolios, optimize profits, and help community bankers effectively serve their clients. Named Best Lending Solution by the 2021 FinXTech Awards, Teslar Software continues to earn its reputation as a leading technology provider for community institutions. Please visit www.teslarsoftware.com to learn more.
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