Shastic

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Shastic is an AI-powered finance tool that automates lending processes for financial institutions. It helps cut funding time by over a day and reclaims lost profits by automating 80% of tasks.

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At a glance

Pricing

Likely Not Free

Free tier

API

Skill level

Technical

About

What is Shastic?

Shastic provides AI support agents, specifically the Mago platform, designed for banking and financial institutions. It aims to make financial operations faster, smarter, and more efficient 24/7. The platform automates up to 80% of manual loan tasks, significantly reducing funding times to under one day and improving completion rates to 92%. Shastic's agents, like VOI MAGO Auditor and Loan Packet Reviewer, connect directly to existing Loan Origination Systems (LOS) to validate, clear, and sync loan packets. This helps eliminate funding delays, improve margin, and reduce the need for additional full-time employees. Shastic focuses on democratizing AI-workflow automation for community-based financial institutions.

Best used for

Ideal for financial institutions and credit unions who need to automate manual loan tasks, reduce loan funding times, and improve borrower document completion rates. Especially valuable for those looking to integrate AI agents directly with their existing Loan Origination Systems to enhance efficiency and profitability.

Common actions

Automate loan processing

Streamline lending operations

Reduce funding delays

Improve loan efficiency

Collect loan documents

Capabilities

Key features

Automate loan tasks
Reduce funding time
Improve completion rates
Direct LOS integration
Collect documents efficiently
Loan packet review

Target Audience

loan officerscredit union managersbank operations managersfinancial institution executives

Integrations

Not yet documented

Pricing & Plans

Likely Not Free

Not publicly disclosed. Check shastic.com for current pricing.

FAQs

How does Shastic's Mago platform integrate with existing systems?

Shastic's Mago platform and its AI agents, such as VOI MAGO Auditor, are designed to connect directly to your existing Loan Origination Systems (LOS). This integration allows for seamless validation, clearing, and syncing of loan packets, ensuring a smooth workflow without requiring extensive IT support.

What kind of efficiency improvements can financial institutions expect from Shastic?

Financial institutions can expect significant efficiency gains, including automating up to 80% of manual loan tasks, reducing funding time by over one day, and achieving a 92% borrower completion rate for document collection. These improvements lead to reclaimed profits and reduced operational costs.

Which specific AI agents does Shastic offer for lending automation?

Shastic offers specialized AI agents like VOI MAGO Auditor and Loan Packet Reviewer. These agents are built to handle tasks such as reviewing loan packets, verifying income, and facilitating efficient document collection, all aimed at accelerating the lending process.

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