Iowa-based TS Banking Group has selected Temenos Banking Services delivered on the Temenos Banking Cloud for “a complete digital transformation.”

TS Banking Group will migrate “the entirety of its banking operations” to Temenos’ platform, the bank holding company said in a release.

“The Temenos Banking Cloud will provide us with the agility of a challenger bank and the investment in innovation of the larger banks, in a way we would otherwise be unable to achieve,” said Kevin Forristall, president of TS Banking Group.

Treynor, Iowa-based TS Banking Group is a multi-charter bank holding company with $1.5 billion in assets and locations across the Midwest, according to the release.

TS Banking said it will leverage Temenos to create an open ecosystem by customizing and integrating banking services with third-party fintech solutions.

Temenos’ open platform will enable TS Banking Group to design banking experiences “geared specifically to its niche audience of farming communities,” according to the company.

First Security selects Teslar to streamline lending

First Security Bank has selected Teslar Software to expedite and streamline processes across the bank’s loan department. The Batesville, Miss.-based bank said it plans to leverage Teslar’s configurable lending process automation platform, starting with an exceptions management module.

“We are reimagining our lending operations. By automating our loan processes, employees will no longer have to navigate cumbersome, manual tasks,” said Justin Hill, president at First Security Bank. “The time savings will result in faster loan turnaround times to our customers, improving their overall experience.”

Small business lending accounts are a “significant” portion of First Security Bank’s loan portfolio, the bank stated in a release, and Teslar’s platform will allow it to better serve those businesses by providing exception tracking, centralized data and transparency into customer portfolios.

Challenger bank BetaBank to leverage Backbase solutions

Beta Financial Services has chosen digital banking solutions company Backbase to build its digital challenger bank, BetaBank, which will focus on increasing small businesses’ access to loans and banking services in the U.S.

The Chicago-focused, branchless digital BetaBank will employ a proprietary risk score designed by Beta Financial Services to reduce bias and improve fairness in lending to small- and medium-sized businesses.

BetaBank will use the Backbase platform to develop its customer and employee experiences. Backbase will provide the digital banking functionality as well as digital onboarding, according to a release.

With BetaBank looking to launch an initial version of its app later this year, the company said in a release it wanted to work with a fintech that could move quickly.

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