Great Plains National Bank signs on Teslar Software
Oklahoma-based Great Plains National Bank has selected Teslar Software to bolster its commercial lending operations.
Based in Elk City, the community bank’s lending process was “largely manual”, which drove its decision to select Teslar “after comprehensive due diligence”.
“When evaluating our loan process, we knew there had to be a quicker, more effective way to manage our portfolio,” says Trace Larman, risk management director and senior vice president of Great Plains National Bank.
“With Teslar, we will be able to leverage automation to more easily and efficiently track exceptions and past due loans while also strengthening our reporting,” he adds.
“These tools will provide greater transparency into our individual borrower relationships and overall portfolio.”
Great Plains National Bank will leverage the platform to “reduce time spent on cumbersome manual tasks,” allowing employees to “instead focus on more strategic activities and initiatives”.
Joe Ehrhardt, CEO and founder of Teslar, says: “It’s exciting to work with banks like Great Plains National Bank, institutions that understand the importance of using technology to operate more efficiently and enhance, not replace, strong personal service.”
Teslar received investment from the Independent Community Bankers of America (ICBA) in August. Believed to be around $1.8 million, it brought the vendor’s total funding to $2 million.