Commonwealth Credit Union Selects Shastic's Intelligent Process Automation Platform to Automate Operations

SAN FRANCISCO--(BUSINESS WIRE)--Commonwealth Credit Union, a leading financial institution in Kentucky, has selected Shastic, an Intelligent Process Automation (IPA) platform provider for financial institutions, to increase efficiency and productivity across the organization’s operations.

Shastic’s powerful IPA platform will help the credit union to streamline operations by automating member services such as loan application re-engagement, bi-directional communication, document processing, loan processing, and payment reminders. By leveraging Shastic’s IPA suite, Commonwealth Credit Union will be able to bring even more focus to their member experience.

Shastic's platform is designed to sync non-invasively with the credit union’s current systems and interfaces, minimizing the need for complex integrations or installations. Commonwealth Credit Union will be able to use Shastic’s innovative platform in conjunction with MeridianLink, CuneXus, Finastra and Temenos. Combining this already powerful tech stack with Shastic’s IPA suite, will eliminate manual, repetitive work from the credit union’s internal processes.

“Credit unions are always challenged to do more with fewer resources, and intelligent process automation is the best way to augment your staff so they can be more efficient without sacrificing quality,” said Joseariel Gomez, founder and CEO of Shastic. “Our IPA platform will help Commonwealth Credit Union to improve efficiency and increase the speed to closing, while also delivering an enhanced member experience.”

“At Commonwealth Credit Union, we are committed to providing our members with an extraordinary experience, no matter what channel they choose," said Karen Harbin, President of Commonwealth Credit Union. "Shastic's platform brings next-level process efficiency for our team members and real-time communication to keep our members informed and engaged along the way. Automated text messages and automated document collection will keep members informed throughout every step of their loan process, ensuring each member's loan application has the opportunity to be reviewed and processed fully. Partnering with Shastic gives us more opportunities to better the lives of our members by helping them get the money they need or want to help them live their best lives.”

About Shastic

Shastic built the first Intelligent Process Automation (IPA) 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. Shastic has partnerships with Finastra, MeridianLink and Access Softek to help financial institutions streamline banking processes and improve customer service. For more information, visit www.shastic.com

About Commonwealth Credit Union:

Established in 1951, Commonwealth Credit Union currently serves over 117,000 members and has an asset size of $2B. Anyone who lives, works, worships, goes to school, or volunteers in one of 25 eligible counties in Central Kentucky and the Louisville Metro Area can bank at Commonwealth Credit Union. Commonwealth Credit Union is the Official Credit Union of the University of Louisville. For more information, visit www.cwcu.org.