Shastic launches Elle app on Finastra’s FusionFabric.cloud to streamline the mortgage process

Shastic, a technology company that offers a zero-investment Robotic Process Automation (RPA) platform for banking, today announced that its Elle application is available for purchase through Finastra’s FusionStore. The application, which integrates with Fusion MortgagebotLOS, allows lenders and bankers to easily connect and communicate with applicants at any stage of the loan process from looking-to-booking, 24/7 using text messaging.

Built on Finastra’s industry-leading core technologies and harnessing an extensive catalog of open APIs, Shastic has developed an app that facilitates and streamlines communication between lenders or bankers and their clients using an enterprise Robotic Process Automation platform for banking. Customers can easily send documents via text message to eliminate days of follow ups and allow lenders to process more loans without increasing headcount.

Elle improves efficiency by eliminating 30% of phone calls during loan processing, which generates full-time equivalent (FTE) expense savings. It connects to Finastra’s Fusion MortgagebotLOS in 60 minutes without IT involvement, to ensure a more convenient and engaging way to communicate with customers throughout the loan process.

Joseariel Gomez, CEO at Shastic said, “Maintaining a close human connection in this era of conducting business remotely is a real challenge for financial institutions. By leveraging our Elle app through Finastra’s FusionStore, financial institutions can enhance user experience and customer satisfaction in a world of social distancing. Banks and credit unions will be able to drive more loans and reduce processing costs at a time when mortgage volumes are at their peak.”

Going live on FusionStore marks the final stage of the app development journey for firms using Finastra’s open development cloud platform, FusionFabric.cloud. The FusionStore marketplace enables Finastra’s customers worldwide to access, test, purchase and deploy certified apps on top of Finastra core systems, helping them quickly realize the benefits and deliver added value to their customers. Philip Taliaferro, Head of Partner and Fintech Ecosystem at Finastra, said, “Shastic is bringing a truly exciting app to the FusionStore—one that streamlines communication between lenders and borrowers to make the mortgage process faster and simpler.  As our fintech community continues to grow we are pleased to welcome Shastic on board.”

Shastic built the first-ever zero-investment Robotic Process Automation (RPA) platform specialized for banking. We offer our technology as a Cloud service that does not require an upfront IT investment nor a long implementation process as other RPA platforms. We are trusted by 50 financial institutions across the US. Our platform allows financial institutions to increase their capacity and processing speed by 10 times using the same resources and processes they have in place today while achieving a 10x return on their investment. Shastic has partnered with Finastra, MeridianLink and Access Softek to help financial institutions streamline banking processes and improve customer service. Learn more at shastic.com.

Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world’s top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. 

FusionFabric.cloud is a scalable, open and collaborative development platform built by Finastra. The secure and proven cloud platform encourages innovation, opening up the company’s core systems through APIs so that third parties can develop applications on top. Fintechs can quickly build and promote apps worldwide. Financial institutions can access or create new services, which their customers are demanding, faster.