Banking documentation

Financial services institutions such as Banks, Credit unions and Wealth management firms need to produce high volumes of customer documents. Moreover, all client communications must adhere to regulatory compliance. They create statements, letters, contracts, confirmations, etc. at regular intervals.

Many of these financial institutions operate in multiple countries, each with different languages, legislation, and regulations. It takes a lot of effort in production and submissions of compliance documents and forms to the regulatory bodies.

Thus, the automation of document creation improves the organization's bottom-line.


Banking automation

Many core banking systems offer document automation capabilities. Since this is an "additional" feature, the functionality available is very limited. Almost all of them require templates to be designed in their proprietary designers. Thus template creation is a pain. Moreover, you can use these templates only for generating documents from core banking systems.

To generate documents from other front-office and back-office systems, you require a different document generation system. With multiple document generation systems, template governance becomes extremely challenging. Achieving consistent and accurate document generation in this environment is difficult.

Also, these layers of applications make the architecture slow and sluggish. Thus, most of the financial institutions undertook digital transformation to phase out multiple document generation systems. They are moving towards an IT architecture that contains a central enterprise-wide document automation platform.

Telecom software

EDocGen document automation software

Template management

EDocGen makes it easier for banks to create an entire range of documents. It helps to greatly reduce errors and risks associated with template management.

  1. The central repository of templates with a fine-grained access control mechanism. Templates for all document types are maintained and managed by business users
  2. Workflows for the template approval process. Only approved templates make it to the central repository
  3. Those who are creating the documents always use the most up-to-date version

Document Generation

Batch generation: Generate thousands of documents in a few seconds. The performance benchmarks of EDocGen are pretty impressive. Integrate it with your database, CRM and other core applications to generate a large number of documents on click of a button.

On-demand generation: Provide documents to your customers with what they want, when they want it, and how they want it. You could even trigger it based on certain activities in the customer journey. You can also connect it with your workflows.

Interactive: EDocGen auto-creates fillable forms from your templates, grouped by products. These forms offer simplified data input with a wizard to guide the user along with inbuilt data validation.

By integrating with a workflow system such as SharePoint, you can set-up review and approval workflows for generated documents. This assures your customers will receive the right document with the right information. Also, audit trails help you to track who produced when and what.

Omnichannel document distribution

In receiving documents, customers have different preferences. While some prefer an email attached, others would prefer physical correspondence. Some would like for you to send an SMS/text message to them. EDocGen gives you the ability to use an omnichannel approach with your customers. You can

  • Enable the distribution of generated documents by email, print, and cloud storage. Also, there is an option to send generated documents for E-Sign
  • Documents can be passed to the banks document archival system and can also be searched and accessed from EDocGen

Benefits of banking documents automation

As you see, using EDocGen you can easily achieve large-scale personalization, omnichannel delivery of documents. It provides unprecedented opportunities for banks. Use it to include personalized targeted offers in customer communication documents. This offers unique cross-sell and up-sell opportunities for banks to leverage.

It would be the single enterprise-wide document generation platform you would need to generate documents from multiple enterprise systems and databases. It takes less time and fewer people to create and send documents. Production of documents becomes easier and more resource-efficient. Thus, the solution

  1. Reduce Costs
  2. Enhance customer experience thus promotes loyalty and retention
  3. Minimize brand and compliance errors
  4. Increase revenue per customer

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