Quaint Oak Bank and Teslar partner to digitise all aspects of commercial lending

By Edlyn Cardoza

Quaint Oak Bank and Teslar Software announced their partnership to enhance the bank’s commercial lending strategy. The $750 million-asset community bank will leverage Teslar’s full suite of automated workflow and portfolio management tools to improve the lending process for both lenders and borrowers.

“We care about our customer experience and have aggressive growth goals so it was important that Teslar’s technology support the entire lending process from beginning to end, from origination to pay off,” said William Gonzalez, EVP of Quaint Oak Bank. “Teslar is a one-stop shop, allowing us to digitise the comprehensive lending process with a single, trusted partner. We’re confident Teslar’s automated workflows and modern technology will help us expand our geographic reach and provide our customers with a great digital experience.”

Teslar will enable Quaint Oak Bank to increase transparency across departments, providing greater visibility into customer portfolios. Through Teslar’s digital customer portal, customers can apply for loans online, securely upload documents, and easily monitor the status of their loans.

“Quaint Oak Bank is on an impressive growth trajectory, and our lending process automation tools will enable them to continue supporting new and existing communities with confidence,” said Joe Ehrhardt, CEO and founder of Teslar Software. “With Teslar, the bank can grow more efficiently, optimising employees’ time and allowing them to focus more on the customer relationship. Plus, the bank will be able to provide the convenient, digitally optimised experience customers and prospects want through our digital customer portal.”

Recently, IBS Intelligence reported that Teslar Software had announced the launch of its indirect lending solution, which empowers community financial institutions to offer indirect lending services to local businesses and consumers in a way that’s quick, efficient, and digitally optimised. Joe Ehrhardt, CEO and founder of Teslar Software, demoed the solution on Monday at FinovateFall in New York.