How Bank of Idaho Leverages Teslar's Platform to Streamline Operations and Improve Efficiency

As a service-oriented community bank, Bank of Idaho is committed to making a difference in their community. With locations spanning. Eastern Idaho, the Treasure Valley, and Eastern Washington, they offer a range of services from personal checking and savings, business checking and savings, business lending, SBA lending, mortgage lending, and trust and wealth management services.

Bank of Idaho utilizes Teslar’s platform to automate many manual procedures and ensure controls and processes are in place and auditable. Teslar’s tools, including Exceptions/Tickler Tracking and Workflow and Forms Automation, have helped the bank improve efficiency metrics and reduce Expenses.

Bank of Idaho was plagued by manual forms, approvals, and processes.
In addition, the tickler management software they had been using was no longer sufficient to meet their needs. They knew they needed a more robust system to provide a more streamlined solution for their loan operations and administration.

“We wanted a more robust tickler tracking system to reduce the bank’s manual forms, approvals, and processes. Our prior tickler system was fine, but it didn’t have the reporting suite that Teslar offers. Even with 70% of our bank using Teslar, I feel like we have only scratched the surface on what it can do. ”

Bank of Idaho purchased Teslar’s full suite of product offerings right before the pandemic hit. They began by using Teslar’s PPP solution and workflow system to streamline the PPP loan process, which was an easy and positive experience for the team and their customers. Since the software solved many manual procedures and controls issues, they continued to leverage Teslar for day-to-day operations, primarily leveraging the Exceptions/Tickler Tracking and Workflow and Forms Automation tools. Approximately 70% of the bank uses Teslar in some capacity.

Teslar’s Exceptions/Tickler Tracking system provides a holistic and 100% accurate view of technical exceptions and allows the team to easily create, track, and clear exceptions. While the bank was not necessarily unhappy with their previous tickler management software, Teslar’s robust capabilities that bring the entire process together alongside other tools such as workflows and reporting capabilities better aligned with the bank’s long-term vision for efficiency and streamlined operations. This tool has since replaced the bank’s former exceptions management software.

Teslar’s Workflow and Forms Automation tool was implemented to ensure controls and processes are in place as well as auditable. So far, Teslar has automated more than 30 manual forms and processes and counting.

Although Bank of Idaho feels like they’ve only scratched the surface of Teslar’s capabilities, they are already seeing results and experiencing the benefits of the platform. They are currently in the process of implementing Teslar for Exceptions/Tickler Tracking and imaging for deposit operations, Criticized Asset management, and Annual Loan Review.

Benefits

• Improved efficiency and reduced operational costs. The bank has already saved two FTEs in the loan servicing team alone.
• With over 30 customizable workflows implemented, the banks saves an estimated 40 hours per week by automating these manual processes.
• Teslar’s partnership approach is added value to the bank’s experience. The Bank of Idaho team says weekly conversations and a personal representative really make the difference.

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