$2 billion-asset bank leveraged fintech during PPP, expands partnership to boost efficiencies across broader commercial lending strategy
Teslar Software, provider of portfolio management tools that aggregate and automate lending and deposit operations for community financial institutions, announced that Bank First has implemented its sophisticated portfolio management tools, centralizing processes and increasing transparency with automated workflows and advanced reporting.
“Bank First is a strong example of a relationship-based community bank that prioritizes delivering innovative, value-driven products and services”
Manitowoc, Wis.-based Bank First originally partnered with Teslar Software to help them more efficiently navigate the Paycheck Protection Program (PPP) loan process. The technology helped the bank automate the lending process and support businesses throughout their community during this critical time of need. After working closely with Teslar’s platform and team, the bank recognized the benefits and added efficiencies Teslar could bring to their overall commercial lending strategy and decided to expand the partnership.
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“From the onset of our relationship, we were impressed with Teslar Software’s responsiveness and hands-on approach to customer service,” said Kelly Fischer, chief operating officer of Bank First. “Teslar Software is truly a part of our team, not just another vendor. At Bank First, our goal is to work smarter not harder, and we’re confident that Teslar Software perfectly supports that mantra. Through our partnership, we are able to boost efficiencies, enhance customer service and more seamlessly scale.”
Operating as efficiently as possible is important to Bank First. In 2020, the bank was awarded the Raymond James Community Bankers Cup, which recognizes banks based on profitability, operational efficiency and balance sheet metrics. Partnering with Teslar Software supports the bank’s continued efforts to improve operations. Since launching the platform, lenders’ time has been optimized, freeing them to focus on more strategic, customer-facing initiatives. Bank First has also been able to centralize reporting, providing lenders with greater visibility into customer data and a more holistic view into individual relationships.
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“Bank First is a strong example of a relationship-based community bank that prioritizes delivering innovative, value-driven products and services,” said Joe Ehrhardt, CEO and founder of Teslar Software. “The bank recognizes that, when done right, digitization can enhance and complement, not replace, personal relationships. By leveraging our platform, Bank First has been able to automate more aspects of their commercial lending, allowing lenders to focus on what they do best: deepening relationships with their customers.”
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