Financial services technology startup Shastic said it now has 32 clients for its Facebook loan calculation applications, including 30 credit unions.
The Berkeley, Calif., company said 10 credit unions and a mortgage bank signed up to use Calcubot in the past 45 days. The calculator app offering was launched in 2012.
Shastic said that 83.6% of Calcubot users complete an estimate and that 17.6% of those then click on the “Apply” button. Traffic is evenly split between mortgage and auto loans, the company said.
Calcubot client Donna Handwerger, vice president of marketing operations at the $2.3 billion Mission Federal Credit Union in San Diego, said, “The importance of social media for reaching consumers directly is obvious. Everyone is on Facebook nowadays and you have to be where your members are. We had previously been limited to daily posts to interact with our members.”
Shastic CEO Ariel Gomez said, “Financial institutions have had a strong presence in online for a long time and they have a quickly growing presence in mobile. Facebook is the new frontier. Your FI's high tech strategy should be a tripod of three legs: online, mobile and social.”
New clients also include the $3.8 billion Patelco CU, $1.8 billion MidFlorida CU, $1 bill Pacific Service CU, $688 million CoastHills FCU, $582 million Seattle Metropolitan CU, $329 million Missoula FCU, $308 million General Mills FCU, $192 million First Financial FCU, $91 million Credit Union of the Rockies and $39 million Members First Community CU, the company said.
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