Shastic, a provider of AI-powered software automation solutions for financial institutions, confirmed it has struck a partnership with MeridianLink, a cloud-based software platform that mostly serves banks and other financial firms.
“This collaboration will integrate Shastic’s AI automation technology into the MeridianLink Marketplace, offering banks and credit unions a solution to automate traditionally manual processes and boost operational efficiency,” the two firms explained in a statement shared with QA Financial.
Shastic’s platform leverages artificial intelligence to replace repetitive tasks traditionally handled by employees, allowing financial institutions to streamline operations, reduce costs, and scale up testing and quality control.
The companies plan to offer their new solution to banks and financial institutions through MeridianLink.
As this partnership rolls out, both companies are currently focused on testing the integration and fine-tuning the AI solution to ensure it meets the unique needs of individual financial institutions, explained Joseariel Gomez, founder and the chief executive officer of Shastic.
“The solution is designed to be easily adopted without requiring significant upfront investment or extended implementation periods,” he added.
“We are bringing AI-driven workflow automation to thousands of financial institutions across the country,” Gomez continued, claiming that “our platform is the first of its kind, specifically designed to enhance banking operations with AI.”
Bill Henslee, the current chief executive officer of MeridianLink, said in agreement that “this partnership reflects our shared mission to democratise access to advanced technology for smaller financial institutions.”
He was keen to stress that Shastic’s AI-powered solution will enable our customers to operate tests and software systems more efficiently, reducing manual labour and providing them with more time to focus on meaningful customer interactions.”
Journey so far
Gomez called the deal “a significant milestone” in Shastic’s journey. The firm, known for its specialised AI workforce working almost solely for the financial sector, has a clientbase of around 50 financial institutions, mostly in the U.S.
The San Francisco-based company recently developed its first AI workflow automation platform for the banking industry.
Gomez said its platform runs on the cloud and provides financial institutions that aims to increase operational efficiency.
Previously Shastic struck partnerships with several large financial technology providers, including Finastra and MeridianLink, to help banks and credit unions streamline their digital processes and enhance their online service offerings. Testing and trialling is a large part of that process, he added.
Gomez said that the firms aim to make this cutting-edge workflow automation available to more institutions, to increase productivity, reduce human error, and create more personalised experiences.
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