back Back

Southern Bank of Tennessee selects Teslar Software to strengthen its lending strategy

By Edlyn Cardoza

November 14, 2022

  • Boosting Automation
  • Community Bank
  • Construction Management Module
Share

Southern Bank of Tennessee, Teslar Software, Boosting Automation, Community Bank, Portfolio Management, USASouthern Bank of Tennessee and Teslar Software announced their partnership to strengthen the bank’s lending strategy, boosting automation, efficiencies, and transparency across the organisation. The community bank plans to leverage Teslar’s technology to support its growth goals, which include increasing its portfolio by over 10% each year.

“Teslar’s ability to quickly create comprehensive, up-to-date reports will save our lending operations team up to one week per month of manual work,” said Justin Cary, president, and chief credit officer of Southern Bank of Tennessee. “We are deeply rooted in building quality, long-lasting relationships and delivering personalized solutions that meet the needs of the communities we serve. With Teslar, our team will spend less time on manual operations and more time streamlining information to the lenders that will allow them to work more efficiently.”

With Teslar, the bank expects to significantly reduce reliance on tedious, manual processes, improving overall productivity and efficiencies. Given Southern Bank of Tennessee’s strong construction lending activity, they plan to use Teslar’s construction management module to streamline operations in this area. The bank will also use Teslar’s secure document upload portal and exceptions module.

“We are excited to partner with Southern Bank of Tennessee as they continue to grow. They are community-focused and have an innovative mindset that recognizes the power of technology,” said Joe Ehrhardt, CEO, and founder of Teslar Software. “Through our partnership, the bank will be able to better harness data around individual borrower relationships as well as their broader portfolio, leading to more informed strategic decisions and borrower service.”

Recently, IBS Intelligence reported that First Pryority Bank, a member FDIC bank, and Teslar Software had announced their partnership to expedite and streamline processes across the bank’s loan department. The Pryor Creek, Oklahoma-based bank has grown substantially over the past three years and will leverage Teslar’s lending automation software to help support its ongoing growth goals.

Previous Article

November 14, 2022

Argentem Creek Partners will participate in the inaugural Turnaround, Restructuring & Insolvency conference during Abu Dhabi Finance Week 2022

Read More
Next Article

November 14, 2022

JP Morgan to open Payments Lab in Greece

Read More








IBSi Daily News Analysis

South East Asia

February 28, 2024

Boosting Automation

FinTech penetration in Southeast Asia will double by 2027, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

February 29, 2024

Barclays to sell $1.1b worth US credit card debt to Blackstone

Read More

February 29, 2024

5 FinTech platforms offering SME Loans in Australia

Read More

February 29, 2024

The Deep Dive: Cloud Account Takeover

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023