Shastic Launches Mago: The Future of AI Banking Workforce for Community Financial Institutions
May 16 2024 - 7:00AM
Business Wire
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.
“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.
About Shastic
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. For more information, visit www.shastic.com.
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