Teslar Software, a provider of lending technology for community financial institutions, announced that its consumer loan origination system (LOS) is officially live, built to help community banks and credit unions more efficiently scale consumer lending and create more opportunities for deeper, long-term customer relationships.

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“Although we are still early in implementation, Teslar’s Consumer LOS has exceeded our expectations in time savings and reducing the number of employees needed to complete a consumer loan”

Community financial institutions have a significant opportunity to grow future commercial relationships through consumer lending, but too many view consumer loans as difficult to scale efficiently. Teslar developed its Consumer LOS to address that challenge, giving lenders a more streamlined way to originate consumer loans without adding unnecessary operational burden.

The launch marks an important expansion of Teslar’s lending capabilities, giving financial institutions technology designed to simplify and modernize the consumer loan origination process. Teslar’s Consumer LOS brings the entire origination process into one experience. By reducing the need to move between systems and manually piece together each step, Teslar helps institutions originate consumer loans faster while maintaining the controls, compliance and internal policies they rely on.

By making consumer lending more efficient, Teslar aims to help financial institutions look beyond the economics of an individual consumer loan and toward the lifetime value of the relationship. A consumer borrower today could become a small business owner or commercial borrower tomorrow, giving institutions an opportunity to establish that relationship earlier and grow alongside their customers.

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