Oklahoma-based community bank partners with Fintech to modernize lending

by James · October 12, 2022

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Farmers State Bank chooses Teslar software to increase transparency and grow seamlessly

SPRINGDALE, Ark.–( BUSINESS WIRE )– Farmers State Bank and Teslar Software today announced their partnership to automate the bank’s commercial lending processes. Teslar’s technology will help the bank manage their loan portfolio efficiently as they continue to grow.

The Quinton, Okla.-based bank partnered with Teslar Software after being impressed by the sophisticated technology and hearing many positive experiences from peer banks. Farmers State Bank plans to first leverage Teslar to better manage exceptions and delinquent loans and then gradually add other modules.

“Our bank has grown steadily over the past decade, and it was time to automate the manual lending processes we had relied on for years to effectively support this scale,” said Chris Jordan, president of Farmers State Bank. “Much of our new business is organic, a result of positive customer experiences and positive word of mouth; with Teslar’s automated workflow and portfolio management tools, we will be able to maintain exceptional customer relationships even as we expand. Part of our strategic plan is to remain independent, and Teslar’s technology directly supports this goal.”

Farmers State Bank offers a wide variety of loans, including agricultural loans, consumer loans and small business loans. With Teslas, the bank can better serve all segments. Teslar’s dashboard will enable loan officers to keep a closer pulse on customer needs and provide loan operations staff with a central, intuitive place to complete each step of the lending process.

“We are proud to partner with Farmers State Bank and be a part of their technology strategy,” said Joe Ehrhardt, CEO and founder of Teslar Software. “By automating and streamlining their loan processes, they can continue to provide Oklahoma communities with the financial support and guidance they need, while giving employees greater visibility into customer relationships and increasing operational efficiency.”

About Teslar software

Teslar Software, founded in 2008, is a configurable automation platform for lending processes for community financial institutions. Teslar is transforming commercial lending by providing easy access to centralized, relevant information to balance portfolios, optimize profits and help community bankers effectively serve their customers. Named Best Solution for Lending by the FinXTech Awards 2021, Teslar Software continues to earn its reputation as a top technology provider for community institutions. Please visit www.teslarsoftware.com to learn more.