In today’s world, technology is rapidly changing how we do business. Artificial Intelligence (AI) has become a buzzword in the banking industry, promising significant improvements in operations and customer experience. However, before investing in AI technology, it is essential to understand existing processes in order to determine the areas best suited for automation. This is where process mapping comes into play
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Elle embeds text messaging into existing Finastra platforms to turn days of chasing customers and documents into minutes
By Joseariel Gomez, CEO of Shastic
Most financial institutions are racing to go digital, and they’re making significant investments in new digital infrastructure to get there. However, these institutions are now faced with the challenge of going digital without losing personal relationships with customers. For community banks, which many customers choose precisely because of personalized service, going digital runs the risk of transforming their services into a commodity in which the only differentiators are interest rates. Investing in digital personal touch-points can be a key competitive advantage for these community banks.
Continue reading “How to Keep Lending High-Touch in a High-Tech World”
Recently, Shastic and Priority One collaborated to create a technology solution for the credit union’s digital platform.
With the addition of SMS, Priority One added an innovative security process for the verification of the member’s identity. This allowed the credit union to perform specific tasks over the phone, such as balance inquiries, transferring funds and making loan payments.
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A Harvard Business Review poll noted that the most critical part of customer satisfaction is reducing customer effort.
Continue reading “HBR Poll: Offering the Best User Experience is Powerful”
CorePlus Credit Union, based out of Norwich, Connecticut, took a big step in growing its digital presence by incorporating Shastic’s member engagement software into their pre-existing web pages and mobile apps.
Continue reading “CorePlus Adopts Strategy to Grow Digital Presence”
Technology, especially Fintech, is designed to make life easier for both companies and the people they serve.
Continue reading “Credit Union Times covers New MeridianLink SMS announcement”
Both banks and credit unions continue to lose market share to digital lending platforms that offer better user experience and more personalization.
Fintech startups issued 38% of all US personal loans in 2018, while banks provided 28% and credit unions accounted for 21%, according to TransUnion. This is a significant change from 2013, when fintech startups issued only 5% of US personal loans, banks issued 40%, and credits unions 31%.
Continue reading “Banks and Credit Unions Are Losing to Fintech”
MeridianLink is the largest loan origination system in the United States, providing the nation’s first multi-channel loan organization platform
Recently, MeridianLink announced a partnership with Shastic to deliver an innovative SMS and real-time tracking integration inside all of their applications. Before this, financial institutions did not have a way to communicate with their customers as they moved through the application process.
Continue reading “Shastic Partners with MeridianLink to Leverage SMS in the Application”
There is a good chance you have used a shortcode at some point when communicated by SMS with a business organization, whether it be in the financial services, retail, travel, or transportation industry.
