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

By Edlyn Cardoza

Southern 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.