Teslar Software has been named the Best Solution for Lending in the 2021 Best of FinXTech Awards.
The Springdale-based fintech company was one of four companies that was selected as a winner for the 2021 awards. Held by financial industry research firm Bank Director, the FinXTech Awards are designed to highlight financial technology companies that can help financial institutions to grow their revenues, increase their security and reduce risk, and to increase efficiency.
Bank Director spotlighted the company as the “Best Solution for Lending,” citing its ability to “integrate with key systems to provide a single platform for loan portfolio and operations management.”
Headed by CEO and founder Joe Ehrhardt, Teslar Software provides portfolio management tools for financial institutions, which aggregate and automate lending and deposit operations. All of these operations are placed into a single system.
“It is an honor to win the Best Solution for Lending in the 2021 FinXTech Awards, not just because of the award but because it signifies the validation and trust our clients put in Teslar Software every day. The Teslar platform prides itself on empowering community bankers and one of our clients played a role in us winning this award. Michael Bucher from Liberty National Bank provided testimonial to Bank Director on how they have leveraged Teslar and the impact that the platform has had within their financial institution. Our goal is to continue driving community banking forward and to continue to grow an amazing FinTech company in Arkansas that helps financial institutions across the country,” Ehrhardt told Arkansas Money & Politics.
“We received more than 100 submissions for this year’s Best of FinXTech Awards, which were vetted based on our rigorous methodology,” Bank Director vice president of research Emily McCormick said in a statement. “We’re thrilled to award DeepTarget, Hummingbird, Narmi and Teslar Software for their outstanding performance in their respective categories.”
Fintech companies that participated in Bank Director’s FinXTech Connect platform were eligible for the 2021 awards. The award winners were selected based on Bank Director’s analysis of each company and their solutions, with feedback from financial institutions.
The overall winner of the 2021 FinXTech Awards was Narmi, which also was named the “Best Solution for Customer Experience.” Hummingbird won Best Solution for Compliance & Risk, and DeepTarget (3D Story Teller) received the Best Solution for Improving Operations award.
Bank Director also recognized the awards finalists, which included Adlumin, DefenseStorm (GRID), Derivative Path (DerivativeEDGE), Fintel Connect, NCR Digital Banking, Numerated (PPP Solution), SavvyMoney and Velocity Solutions (Account Revenue Solution).
Founded as 3E Software in 2008, Teslar Software has steadily increased its profile in recent years. The company participated in the Venture Center’s ICBA ThinkTECH Accelerator in 2019 and received an award during the 2020 Finovate Awards for Best Fintech Partnership for its work with Citizens Bank of Edmond, developing a PPP platform.
In 2021, Teslar Software was named one of the ‘Best Fintechs to Work For’ by American Banker. Teslar was one of two Arkansas companies, including Smiley Technologies, to make the list in 2021.
The company offers a range of technology, including annual loan reviews, construction management, a criticized assets engine, exceptions management, internal loan review, portfolio management, and workflow management.