Farmers State Bank and Teslar Software today announced their partnership to automate the bank’s commercial lending processes. Teslar’s technology will help the bank efficiently manage their loan portfolio as they continue to grow.
The Quinton, Okla.-based bank partnered with Teslar Software after being impressed by the sophisticated technology and hearing many positive experiences from peer banks. Farmers State Bank plans to first leverage Teslar to better manage exceptions and past due loans and then gradually add other modules.
“Our bank has steadily grown over the past decade, and it was time to automate the manual loan processes we had relied upon for years to effectively support that scale,” said Chris Jordan, president of Farmers State Bank. “Much of our new business is organic, a result of positive customer experiences and positive word of mouth; with Teslar’s automated workflow and portfolio management tools, we’ll be able to maintain exceptional customer relationships even as we expand. Part of our strategic plan is to remain independent, and Teslar’s technology directly supports that goal.”
Farmers State Bank offers a wide variety of loans including agricultural lending, consumer lending and small business lending. With Teslar, the bank can better serve all segments. Teslar’s dashboard will enable loan officers to keep a closer pulse on customer needs and give the loan ops staff a central, intuitive location for completing each step in the lending process.
“We’re proud to partner with Farmers State Bank and be a part of their technology strategy,” said Joe Ehrhardt, CEO and founder of Teslar Software. “By automating and streamlining their loan processes, they can continue to provide Oklahoma communities the financial support and guidance they need while also empowering employees with greater visibility into customer relationships and increasing operational efficiencies.”