Teslar Software announced a new partnership with Indiana-based Hoosier Hills Credit Union this week.
The partnership will enable Hoosier Hills CU to “refine its lending operations from the ground up,” the community financial institution said in a statement.
Headquartered in Arkansas, Teslar Software made its Finovate debut at FinovateFall 2022 in New York.
Indiana-based Hoosier Hills Credit Union has teamed up with Teslar Software in an effort to “refine their lending operations from the ground up.” In a statement, the financial institution, which serves 40 counties in southern Indiana and northern Kentucky, identified both streamlining internal processes and enhancing data visibility as key priorities.
“We recognized that many of our back-office processes involve too many touchpoints and too much manual effort,” Hoosier Hills CU SVP of Lending Operations Ashley Wilkerson said. “Right now, many of these functions are decentralized and rely heavily on email. One of our goals with Teslar is to automate and centralize these functions to improve efficiency and enhance the experience for both our members and our team.”
Teslar offers a Lending Process Automation Platform that automates labor-intensive tasks and builds efficient workflows that are configured specifically for the individual institution. These include workflows for processes such as loan origination, deposit operations, advanced portfolio and credit risk management, as well as operational workflows, including exceptions and tickler tracking. The platform aggregates and unifies data in a single system and provides tools and visibility that ensure consistent, rapid processing, and foster collaboration.
“I was initially expecting Teslar’s main benefit to be data and reporting, but once I saw the workflow capabilities, it was eye-opening. Teslar is really an efficiency tool more than anything,” Hoosier Hills CU Chief Operations Officer Charlie King said. “We do so many things well as a credit union—by leveraging Teslar’s innovative tools we can complement our strengths, increase our efficiency, and deliver even more value to our members.”
Founded in 1969 as the Bedford Independent Federal Credit Union, the institution was launched by workers at the GM Foundry in Bedford, Indiana. Today, as Hoosier Hills Credit Union, the credit union has more than $895 million in assets, and nearly 40,000 members.
Springdale, Arkansas-based Teslar Software made its Finovate debut at FinovateFall 2022 in New York. At the conference, the company demonstrated how its technology enables community banks and credit unions to offer indirect lending via simplification, digitization, and automation. Indirect lending enables community financial institutions to grow their customer and member base by teaming up with local businesses to offer financing to consumers for purchases such as outdoor equipment, furniture, and more.
Teslar Software was founded in 2008. The fintech’s partnership news with Hoosier Hills CU comes less than a month after the company reported that Altamaha Bank and Trust had selected it to help streamline lending operations, enhance exception tracking, and provide both employees and customers with a more unified experience. Altamaha Bank and Trust serves communities in Southeast Georgia and was founded in 1946.
“For us, Teslar checked all the right boxes,” Altamaha Bank and Trust Chief Technology Officer Shan Venable said. “We looked at a lot of fintechs, but the features Teslar offers and their long-term experience integrating with both our core and imaging systems fit exactly what we needed. We didn’t want a platform that requires large resource commitments or dedicated staff to manage. We wanted something intuitive and easy for our employees to use.”
Photo by Joshua J. Cotten on Unsplash
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