Hometown Bank, based in Fond Du Lac, Wis., announced Tuesday that it will implement Teslar workflow and portfolio management tools to automate processes across its commercial lending division.

The $657.7 million bank will use the solution to centralize all its systems onto one interface. The ease of use for the software management tool impressed the bank, Lou Ann Pilsner, the bank’s executive vice president of operations, said in a release.

“By leveraging Teslar to streamline and automate our commercial lending processes, we’ll be able to enhance both the employee and customer experience and grow with greater confidence,” Pilsner said.

Hometown Bank serves communities throughout northeastern and central Wisconsin and plans to use Teslar’s pipeline management, workflow and exception tracking software. Teslar will increase transparency across departments, providing better visibility into customer relationships, according to the bank.

NuMark Credit Union will use AI-based platform Scienaptic for credit decisioning

NuMark Credit Union announced Tuesday that it will use Scienaptic’s artificial intelligence (AI)-based credit decisioning platform for underwriting and automating decisions.

The Chicago-based credit union serves more than 50,000 members across nine branches. Scienaptic will allow the $332.5 million financial institution to deliver faster lending decisions for its multigenerational members, Steve Clark, chief lending officer at NuMark, said in a release.

“With Scienaptic’s AI-powered credit underwriting platform, we will be able to better serve members who we consider to be an extension of our family,” Clark said. “The AI platform will enable us to maintain a deep commitment to member relationships while improving member financial lives through smarter, more personalized credit decisions.”

GreenState Credit Union deploys Built to automate and scale construction lending

GreenState Credit Union, based in North Liberty, Iowa, announced this week it will leverage Built Technologies’ construction finance platform to automate and accelerate its commercial lending operations.

Built allows all parties in the loan process to access loan documents and information online, including customers, vendors and draw inspectors. The platform offers a mobile app so that draw inspectors can retrieve and upload loan data as needed — a process usually handled by spreadsheet.

The solution will help the $9 billion credit union speed and scale its $2 billion commercial portfolio in the Midwest, said Devin Conover, GreenState assistant vice president of commercial credit administration.

“Built is a tool that will further enhance the experience of both members and staff by streamlining the construction loan servicing process into one central location, providing more transparency between all parties, ensuring results and expectations are met on both sides in exponentially faster processing time,” Conover said in a release.

U.S. Bank Housing Capital Company, a division of U.S. Bank, also used Built to automate its commercial lending processes.