Shastic, the leading provider of workflow automation solutions for financial institutions, has announced its latest platform, Mago. This end-to-end AI workflow automation platform will revolutionize the industry by providing community banks and credit unions with state-of-the-art, AI banking workforces.
Mago’s approach allows these institutions to dramatically expand their workforce capabilities without the need for additional staff. As opposed to offering a single feature or automating one specific task, Mago can automate an agent’s workload augmenting the current team or reducing the need for full time equivalents (FTEs). Mago allows banks and credit unions to expand their workforce 1,000 times without increasing their headcount.
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“Mago is not just about automating tasks; it’s about enhancing productivity and moving our industry forward,” said Joseariel Gomez, founder and CEO of Shastic. “By integrating AI with workflow automation, we’ve created a solution that delivers ten times more efficiency, transforming everyday work life for financial institutions giving time back to their teams to focus on more meaningful interactions with members.”
Mago has demonstrated the ability to reduce processing time for common financial operations by 85%, making these processes 6.7 times faster. Mago can automate lending processes from application to funding with the exception of underwriting. It can also help with onboarding new members, collections practices, mass marketing and much more.
Shastic built the first AI workflow automation platform specialized for banking. They offer their technology as a Cloud service that requires minimal upfront IT investment without the elongated implementation process. Shastic is trusted by 50+ financial institutions across the US. Their platform allows financial institutions to increase capacity and processing speed by 10 times using the same resources and processes they currently have in place.
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