Bank First Expands Tie-up With Teslar to Boost Business Lending

Teslar Software, which works with portfolio management and automation for community financial institutions, announced in a press release that its tech will continue to be used by Bank First via an extended partnership.

Bank First will tap into increased automation transparency, portfolio management tools and advanced reporting, the release stated.

Bank First initially teamed with Teslar for help navigating the Paycheck Protection Program (PPP) last year amid the pandemic, according to the release. Teslar’s tech helped Bank First automate the lending process and support businesses.

Afterward, Bank First decided to use more of Teslar’s platform benefits to boost its commercial lending strategy, the release stated.

“From the onset of our relationship, we were impressed with Teslar Software’s responsiveness and hands-on approach to customer service,” said Bank First Chief Operating Officer Kelly Fischer said in the release. “… Through our partnership, we are able to boost efficiencies, enhance customer service and more seamlessly scale.”

Teslar CEO and Founder Joe Ehrhardt said in the release that the bank “recognizes that, when done right, digitization can enhance and complement, not replace, personal relationships.”

“Bank First is a strong example of a relationship-based community bank that prioritizes delivering innovative, value-driven products and services,” he said in the release.

The uptick in remote work has businesses needing to restructure their accounts payable (AP) and accounts receivable (AR) processes, including innovating spend management.

Read more: Single Platform Spend Management Keeps SMBs’ Cash in Sight and on Budget

Companies that implement spend tools that aggregate expense data in one place make it easier for their workers to file necessary paperwork and have their questions answered without adding money and cost to businesses’ bottom lines.