SAN FRANCISCO–(BUSINESS WIRE)–Shastic, an intelligent banking process automation platform, recently launched DocPush, a new feature that reduces the processing time required to collect information and documents for approval by up to 95% loans.
Shastic’s DocPush is powered by Intelligent Process Automation (IPA), which automates communications and pushes documents and information based on the loan’s current stage in the processing system. Automating the communication and document collection process allows financial institutions to free loan teams from repetitive manual work while reducing turnaround times and allowing them to fund more loans than ever before.
“We developed DocPush to enable banks and credit unions to eliminate the tedious manual process of collecting required documents during processing and increase closing speed,” said Joseariel Gomez, Founder and CEO of Shastic. “Our IPA process can learn and adapt to existing workflows to find the most efficient method of automating friction points in the lending process.”
Shastic provides a single, easily accessible platform powered by artificial intelligence and cloud-based infrastructure. This allows DocPush to automate document collection and communication between financial institutions and their borrowers throughout the loan process. DocPush also automatically updates the financial institution’s processing system, showing which documents still need to be collected and which have been pushed back, all in real time.
“Credit unions are always looking for ways to make their teams more productive, and Shastic provides a solution that can drive strong efficiencies and maintain a strong member experience,” said Dave Buerger, co-founder and CEO of CuneXus. “Shastic’s DocPush is a great way for credit unions to reduce turnaround time and resources while providing an exceptional lending experience.”
Shastic has built the first-ever investment-free intelligent process automation (IPA) platform specializing in the banking industry. We offer our technology as a cloud service that does not require an upfront IT investment or a lengthy implementation process like other RPA platforms. We are trusted by 50 financial institutions across the United States. Our platform enables financial institutions to increase their processing capacity and speed 10x using the same resources and processes they have in place today while achieving a 10x return on 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.