Shastic, an Intelligent Process Automation (IPA) platform provider for financial institutions, announced its new partnership with Del-One Federal Credit Union to provide its workflow automation technology. Shastic’s cutting-edge IPA offerings will allow Del-One FCU to operate faster and offer a better member experience.
Del-One FCU chose Shastic’s AI and cloud-integrated offerings to increase loan funding speed and overcome typical process bottlenecks. By automatically contacting loan applicants and transferring data across legacy systems that cannot communicate with each other, Shastic’s IPA can dramatically decrease the time it takes a loan to go from application to funding.
“We are always looking for ways to improve our lending processes, and Shastic’s offerings represent a wonderful opportunity to better serve our members,” said Ronald Baron, president and CEO of Del-One FCU. “Shastic’s use of AI and machine learning technology will give us the edge we need to significantly decrease the time our loans take from application to funding and generate business growth.”
Founded in 1960 as Delaware Highway Federal Credit Union, Del-One FCU has since grown into the largest credit union in the state, serving more than 80,000 members and handling more than $657 million in assets.
“With more and more financial institutions implementing automation technology, now is the time for credit unions to get ahead and start using intelligent automation to become more efficient and increase their bottom line,” said Joseariel Gomez, founder and CEO of Shastic. “We are excited to start working with Del-One FCU and cannot wait to see our partnership flourish.”