Partnership will help bank better manage entire lending portfolio, including PPP lifecycles
Teslar Software, a provider of automated workflow and portfolio management tools designed to help community financial institutions thrive, announced today that Seiling State Bank has selected its platform to improve processes and better serve customers.
Read More: DeFiner Announces Latest Investment from SNZ Holding
Seiling, Okla.-based Seiling State Bank was looking for a partner to help them more efficiently navigate Paycheck Protection Program (PPP) loans when a peer bank recommended Teslar based on their positive experience. Seiling State Bank then decided to use Teslar Unite – PPP to help fund 60 loans totaling over $3 million to their small community.
The experience with Teslar went so well that Seiling State Bank decided to partner with Teslar Software for PPP forgiveness and leverage its suite of automated workflow and portfolio management tools. The bank will be able to seamlessly integrate Teslar’s solution with their core platform, easily enabling them to boost efficiencies, streamline processes and better scale.
“Teslar has been a huge help to us with PPP and we recognized that expanding our partnership by implementing their SaaS solution would be beneficial to both our employees and our customers,” said Robert Young, executive vice president of Seiling State Bank. “Teslar’s team has been extremely knowledgeable and helpful. Together, we’ll be able to meet the evolving need for lending data and digital processes and provide a great user experience.”
The bank plans to leverage Teslar’s platform to more efficiently manage their commercial lending portfolio, increase the visibility of their customer data and securely transfer documents.
“Seiling State Bank made the changes necessary to provide for their community when they needed PPP loans, and as a result they now have the vision to improve the processes of their entire commercial lending portfolio,” said Joe Ehrhardt, CEO and founder of Teslar Software. “Through leveraging our suite, Seiling State Bank will be able increase the visibility of their data and improve the customer experience, among other things. It’s a great convenience to employees and businesses alike.”
Read More: Germany-based QUIN Launches An Investment Advisor And Raises €1M
