Luminate Bank Partners with Teslar Software

Posted by Teslar Software on Tue, Feb 13, 2024
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We are excited to announce our partnership with Luminate Bank!

Minnetonka, MN-based Luminate Bank is on the path to becoming a $2 billion institution in the next decade. A key part of their strategy involves laying a strong foundation with systems and controls designed for efficient scaling. Teslar fits into this plan by providing an enterprise-wide, intuitive, and easy-to-use platform that seamlessly integrates into the bank’s existing systems.

“Our growth trajectory necessitates a solid framework that will allow us to scale economically and prudently with software that is user-friendly for all staff, not just those with coding skills. This is where Teslar’s platform hit the sweet spot for us. It's crucial to have a straightforward system that our team can easily engage with while also enhancing our front-end and back-end processes,” said Aaron Kaslow, Director of Lending at Luminate Bank.

Luminate Bank’s top priority with Teslar is to establish a structured, consistent process for exceptions tracking and management, with plans to gradually expand into other tools and features like Dashboards, Performance Scorecards, and Relationship Aggregation.

"Our partnership with Teslar is set to significantly simplify our daily operations. After undergoing a core conversion, we've felt a notable gap, particularly in our tickler and collateral tracking. Teslar's solution will not only help bridge this gap, but enhance our overall efficiency in tracking and managing these critical documents," said Jackelyn Pratt, VP of Loan Operations at Luminate Bank.

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