Building a credit memo often means gathering information from multiple systems and manually piecing together loan details. For community financial institutions, that process can create unnecessary friction and slow lending teams down.
Teslar’s Credit Memo is designed to simplify that process by bringing everything together into one connected workflow.
We sat down with Ty Carlson, Sales Engineer at Teslar, to talk about Credit Memo and how it helps institutions work more efficiently. As a Sales Engineer, Ty works directly with financial institutions throughout the sales process and spends a significant amount of time learning how they manage lending workflows and operational challenges.
“I’m talking directly with customers multiple times throughout the day, and sometimes even talking to the same customer multiple times throughout the sales cycle,” Ty shared. “So, I have a bit of expertise in hearing what institutions are looking for and what they require for their processes.”
How would you describe Credit Memo to someone unfamiliar with it?
Credit Memo is really a consolidation of all the information that feeds into a loan. Usually that includes questions that might have been asked weeks or months before, calculations, or just regular loan information that we might pull from the core.
It’s all of the data that allows someone to determine if this is a good loan to allow to pass through, or if this is a loan that might be a little too risky.
By bringing all that information together in one place, Teslar’s Credit Memo tool helps institutions improve visibility and simplify the loan review process.
Why did Teslar build our Credit Memo tool?
We’ve had a lot of requests for a Credit Memo tool. It’s a necessary requirement for many institutions throughout their lending process.
We’ve always strived to be on the leading edge of banking technology. Our approach is to listen to what our customers need and be able to deliver it in a way that supports how institutions already work. Credit Memo is no different. It’s another example of Teslar’s ability to hear customer needs, create something that fits those needs, and then deliver it.
What does our Credit Memo tool help bankers do every day?
In a normal banking environment, when someone’s making a credit memo, they’re having to reach through multiple applications, filter through paper, emails, or messages history to consolidate all the data that’s required for this type of paperwork.
What’s different about Teslar’s Credit Memo is that we’ve already logged all that information through our Pipeline. With the click of a button, you can create this output form, add all those questions, so they’re automatically there, and then deliver that to whoever needs to see it. What sets Teslar apart is that it’s a single step for that creation.
If you’d like to learn more about Teslar’s Credit Memo tool, please reach out to sales@teslarsoftware.com or schedule a demo here.