Lessons Learned From a Pandemic

The COVID-19 pandemic has radically changed nearly every facet of American day-to-day life to where most citizens do not see our daily routines ever returning to what we once considered “normal.” When we say every facet, we mean every facet. Mental, physical, familial, financial, personal, and professional. A lot of the effects we’ve felt from the pandemic have been less than savory, but this pandemic is also changing some things for the better. Below are just a few life lessons many Americans have learned from this pandemic (so far) regarding banking and finances.

The Push Against Cashless Stores

Prior the coronavirus outbreak, there was a growing rate of stores and businesses no longer accepting cash. While this may seem like a natural progression as technology and digital banking grow, this cashless model was actually met with a lot of backlash. Just six months ago in January 2020 (which may feel like years to many of us), New York passed a bill banning businesses from rejecting cash payments nearly unanimously.

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Join us for a quick 30-minute webinar to learn how to increase visibility into deposit exceptions on a regional, branch, and individual level and to empower your FSR's or CSR's. 

Why Aren't We Seeing More Bankruptcies?

Big bankruptcies have been trickling in this year as the US continues to navigate through the coronavirus pandemic. Many of these companies filing for bankruptcy have been, unsurprisingly, airline and travel companies, and now we are seeing more and more big names like J. Crew and J.C. Penney added the list. “In May alone, some 27 companies reporting at least $50 million in liabilities sought court protection from creditors -- the highest number since the Great Recession,” reports Bloomberg.

Collaboration to Help All Small Businesses with PPP Forgiveness

Mark Cuban, Citizens Bank of Edmond and Teslar Software Team Up to

Help All Small Businesses with PPP Forgiveness

Group collaborates to launch free website that simplifies and streamlines PPP forgiveness for small businesses, regardless of lender

Teslar PPP Forgiveness Solution

Community Banks Manage PPP Loan Forgiveness with Teslar Software

Embedded solution available to streamline and automate loan forgiveness;

helps small businesses calculate their options today  

The Problem with Big Banks’ Recent Deposit Growth

The largest banks in the United States have recently reported exceptional growth in the past months. The ten largest U.S. banks grew in asset size by more than $1.2 trillion in Q1 of 2020. 20 percent of this growth alone ($273 billion in new deposits) came from JPMorgan, placing it as the first bank in the U.S. with $3 trillion in assets.¹ 

Teslar Software to Participate in PPP Tech | Loan Forgiveness Solution Sprint

Teslar Software will be participating in an exciting virtual event alongside other fintechs tomorrow (Thursday, May 21^st) at 11:00am CDT! The Alliance for Innovative Regulation, the ICBA, and the Venture Center are hosting “PPP Tech | Loan Forgiveness Solution Sprint,” a virtual event to showcase technology solutions to help with PPP Forgiveness-- reporting, managing, and servicing these loans. Each invited fintech will spend five minutes demonstrating their solution followed by a Q&A session with community bank leaders.  

Working From Home is Here to Stay

Many organizations have feared a work-from-home model for years, worrying about the risks that come with more distractions, less accountability, and less productivity for employees, but the COVID-19 pandemic has forced many organizations to adopt work-from-home procedures despite their apprehension. However, many have found their fears put at ease—this actually works. Not only do employees have more free time, lending way to better quality of life, and get to work in sweatpants, but they’re doing it with just as much, if not more, productivity. Many predict that working from home is here to stay. 

Citizens Bank Partners with Teslar Software

Citizens Bank Partners with Teslar Software to Better Serve its Communities

Bank selects automated workflow and portfolio management tools to improve operations, enhance customer experiences