Bank of Franklin Partners with Teslar Software

We are excited to announce our partnership with Bank of Franklin!

Meadville, MS-based Bank of Franklin has chosen a strategic partnership with Teslar Software to become more efficient, establish consistent processes, and increase transparency throughout the bank’s operations.

“We’re excited about the transparency that Teslar affords,” said Braxton Whitehead, Chief Credit Officer at Bank of Franklin. “Our team will be able to self-service their portfolios, stay on top of past dues and other items, and address issues proactively.”

The decision to implement Teslar was driven by the platform’s ability to boost efficiencies, particularly in manual reporting, and improve daily operations without requiring additional staff. Teslar will also provide better tracking and analysis of loans, providing insights into portfolio strengths and weaknesses.

Currently the bank’s day-to-day operations require a lot of manual reporting, and Teslar is expected to eliminate many of these inefficiencies. They anticipate that Teslar will save significant time currently spent on manual report generation, freeing up resources for more strategic tasks within the bank. Braxton adds, “We anticipate Teslar’s cost savings equivalent to at least one FTE. The reporting capabilities alone are going to free up two hours of someone’s time every morning that’s dedicated to generating reports.”

The bank plans to take a phased approach to the rollout, beginning with portfolio management, reporting capabilities, and exceptions tracking. The next phase includes automating workflows for deposit operations and other tools. Initially, around 20 to 25 employees, primarily from the loan department and their support staff, will utilize Teslar.

“I love technology and data analytics. I’m constantly looking at our numbers and dissecting them in different ways. If only you could see all the spreadsheets I generate. With Teslar, I’m excited to implement tools that simplify report writing and provide easy access to data.”