New Market Bank announced last week that it will deploy fintech Teslar Software for its lending process automation.

The Elko New Market, Minn.-based bank will use Teslar’s portfolio management platform to streamline “visibility” between bank departments by lightening workloads and automating simple tasks without adding personnel or resources. The move will help the $193 million community bank scale without sacrificing existing services, Joe Erhardt, chief executive at Teslar, said in a release.

“The bank will be able to spend less time gathering documents and more time doing what they do best: building meaningful relationships with their customers,” Erhardt said. “We look forward to supporting New Market Bank as they continue to grow.”

$70M Bank of Holyrood selects MOCA for digital card stack

The $70 million Bank of Holyrood will use payments fintech MOCA for digital and physical cards and real-time peer-to-peer (P2P) payments, the bank announced Tuesday.

The Holyrood, Kan.-based community bank identified comprehensive digital payments for customers as a key differentiator among competing banks.

“We believe with MOCA we are not just evolving but leading other banks in Kansas,” bank president Karen Pauley said in a release. “We don’t see any other banks offering the kind of card-based payment flexibility that the MOCA program brings, and unlimited cash-back rewards are just icing on the cake.

“MOCA’s next-generation payment platform is exactly the right solution at the right time,” she added. MOCA will give bank customers traditional debit cards and virtual cards, along with real-time P2P payments and an integrated data center interconnect (DCI) Internet platform for card management.

Credit unions announce deals with Scienaptic AI

Panama City Beach, Fla.- based Innovations Federal Credit Union announced Monday that it has selected lending fintech Scienaptic AI to underpin its digital loan offerings. Scienaptic AI will provide automated credit decisioning and artificial intelligence (AI)-based underwriting for the $346 million credit union.

The move mirrors a similar partnership from last week, when the $154 million Lake Charles, La.-based Southwest Louisiana Credit Union selected Scienaptic AI for automated lending and credit decisioning. The credit union identified increasing loan approval rates as a driver for the relationship.

$181B KeyBank expands relationship with Billtrust

KeyBank announced an expansion of its existing relationship with accounting software fintech Billtrust last week that will add B2B delivery of digital invoices to commercial clients.

Billtrust will enable the $181 billion Cleveland-based bank to automate invoice delivery to more than 170 accounts payable portals, according to a release. The fintech also captures digital payments and processes remittance data through an integrated robotic process automation-based “digital lockbox.”

“BPN has given our clients the ability to quickly convert checks to digital payments,” Megan Kakani, head of emerging products, KeyBank enterprise payments, said in a release. “KeyBank is excited to take an active role in adding new suppliers that will benefit from increased electronic acceptance and reconciliation capabilities.”

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