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”


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”

The mass adoption of B2C text messaging is not by accident. Companies, both large and small, now understand just how powerful text messaging tools can be for their business. This is particularly true for the new digital age of banking.

Continue reading “B2C Text Messaging: Knowing the Rules for Digital Banking”

The biggest concern credit unions have with text messaging is opt-in consent. All credit unions must obtain “prior written consent” from members before sending text message communication to meet FCC/TCPA compliance. So how can you automatically convert new applicants into lifelong text message recipients?

Continue reading “7 Strategies for Credit Unions to Grow Text Message Opt-in Consent”