Words From The Efficiency Experts

Utilizing Teslar to Help Your Bank Thrive

Posted by Bethany Wood on Tue, Mar 2, 2021
Bethany Wood

3-Feb-24-2021-08-21-36-29-PM

No matter what solution your bank currently has or what role you serve at your bank, Teslar Software can help you and your bank become more efficient, streamlined, and empowered. In this series, we will chat with some of our Teslar Power Users to discuss how Teslar helps navigate some of the challenges banks and bankers are facing today.

Meet Kellie Holmes! Kellie has worked for Springdale, AR- based Legacy National Bank for over 13 years and has been a Teslar user since 2008. She is over all prefunding of loan operations in the bank. Legacy National Bank initially partnered with Teslar to manage Criticized Assets. At that time, Kellie was a credit analyst and got well acquainted with Teslar’s capabilities in renewals and new loans, loan portfolios, and getting technical exceptions out of email. Some of her favorite parts of Teslar…

 

Exceptions Management

“If you are still emailing your personal financial statements, tax returns… I beg you to stop. Utilize Teslar. Emails can get lost in the shuffle and Teslar is a great way to upload the technical exception, you have quality control and it immediately goes to our core. Teslar’s Exception Management solution has been a huge benefit to our bank and getting us out of emails.”

Prior to utilizing Teslar, all technical exceptions were cleared by one person. Each exception was emailed to that sole employee and she was tasked with getting them into the bank’s imaging system and then clearing the exceptions. As the bank has grown substantially, this quickly became an impossible process.

“Having a workflow queue keeps us organized and we can sort them out if we, for example, want to get the higher-level exceptions cleared first or clear them by date. It has streamlined how we take care of our exceptions and we have better quality control. No fear of something getting lost in the shuffle. I highly recommend the Exceptions Management module of Teslar.”

 

Workflows

“Anything you can imagine—how to get out of emails, eliminating repetitive tasks, printing documents out-- there’s a workflow that you can create to solve it. Teslar is super flexible and will get on the creative bandwagon with you and make it happen.” The bank is working towards being as paperless as possible and has worked with the Teslar team to create forms and workflows inside Teslar to help make this happen.

Kellie also shares an example of a more recent workflow they’ve created: “We’ve implemented a Force Place Hazard Insurance workflow, where, when the hazard insurances expire, it pops into the workflow queue if the Loan Officer hasn’t received it in 5 days. It comes to us and helps us push them to get it taken care of so we don’t have to force place hazard insurance and protect the assets that we have. We’ve implemented this since February 2020 and it’s worked really well; We haven’t had to force place any insurance because it’s always in the forefront of our Loan Officers, Loan Assistants, and Loan Operations.”

We are grateful for creative and innovative partners like Legacy National Bank that help make our products better and willingly share their Teslar story!

Stay tuned for more stories from fellow power users in the days to come. 

Topics: Teslar, Partnerships

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