Scaling Automation in Financial Services Saris, a fintech company specializing in workflow automation software for the financial sector, has successfully raised $28.8 million in a Series A funding round. The investment is set to accelerate the company’s growth as it seeks to help banks and credit unions navigate increasing operational pressures. Strategic Backing for Growth […]
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Scaling Automation in Financial Services
Saris, a fintech company specializing in workflow automation software for the financial sector, has successfully raised $28.8 million in a Series A funding round. The investment is set to accelerate the company’s growth as it seeks to help banks and credit unions navigate increasing operational pressures.
Strategic Backing for Growth
The funding round was led by 8VC, with participation from several notable investors, including:
Audacious Ventures
Homebrew
Btech Consortium
Service Ventures
According to the company, these funds are earmarked for expanding the adoption of its software among financial institutions. Furthermore, Saris plans to use the capital to increase its staff, specifically targeting teams focused on training and implementation, as well as extending its integration capabilities with key partners such as Fiserv, Encompass, and MeridianLink.
Addressing Back-Office Inefficiencies
Saris provides a specialized software platform designed to manage routine, high-volume processes within lending, compliance, and general operations. The system functions by being trained on an institution’s unique existing processes while maintaining human oversight at all times.
“Our vision is a future where humans and AI work side by side in financial services. The best institutions won’t replace people; they’ll give people the leverage to do more with less strain and better serve customers and members as a result,” said Danial Jameel, co-founder and CEO of Saris.
Measurable Impact on Productivity
Many financial institutions today are struggling to balance rapid technological evolution with heightened customer demands and limited internal resources. Saris reports that its technology is effectively helping these organizations handle these challenges by:
Automating up to 70% of work in consumer, mortgage, and commercial lending.
Reducing the time required for complex tasks from hours to minutes.
Lowering operational costs by as much as 35%.
By streamlining document checks and data verification, the platform enables banks and credit unions to increase their total output without the need for additional headcount, allowing back-office staff to focus on more strategic initiatives.
