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Financial Document Automation Software - Document Generation


Rising compliance costs, changing customer expectations, and competition from FinTech's, call for better digital documentation methods. The advent of social media, mobile devices, and other new technologies, brought profound changes to customer expectations. As regulations change faster than ever, financial advisory, banks, and wealth management firms need to prepare for regulatory changes before they occur.

To navigate through these changes, global banks, and financial service firms are investing in document automation technology. It improves their internal efficiency, reduces operational costs, and helps in offering better customer experiences.

What is financial document automation?

It takes multiple documents that have static (that is the same for all documents) and dynamic content (that changes for each document) and processes them with pre-defined rules.

With financial documents often running in thousands at a time, customizing for each customer manually can be a long-drawn process riddled with errors. This can be a challenge when your clients need consolidated investment reports or accurate real-time reports. Instead, by batching similar documents, you generate them error-free with document automation software.

It pulls information about customers, transaction details, and other stored data into Word/PDF/Excel templates to generate individualized documents. The result is a highly accurate document tailored to a given customer in a fraction of the time.

Benefits of document automation for financial services

Financial document automation can solve many issues that pull your company’s bottom line down. Among them are freeing time from tedious manual processes like document retrieval during an audit, simplifying complex procedures between broker-dealers and RIAs, managing high volume-high priority work effortlessly that require an effortless linkage between clients, advisors, in-house teams, and auditors.

Besides, focusing on document automation software means you can concentrate on what’s important and let your team work on a system that aligns with your crucial document generation requirements like pensions, IRAs, annuities, and mortgages.

Financial Document Automation examples

Loan Documents

For example, Financial document automation in loan origination can elevate the entire loan experience. It can reduce costs, restrict fraud, better the loan process, which gets the business to expand with the same number of people towards a larger audience.

And it’s not just the generation and delivery of loan payment notices but, in general, other financial documents that can be automated like personal financial statements, creation of financial reports, and review reports.

Consider the case of commercial lending. While the phrasing in it needs to be intact for all documents every time, the customer’s details, loan amount, and percentages vary for each individual. Unless there is document automation here, you risk leaving your team with inaccurate records, poor customer service, and most importantly, bleeding your business over leaking gaps in your process.

Statements Automation

On-demand (real-time) download of statements in the device of customer's choice improves customer experience and empowerment. Using enterprise document automation, customers can download a single consolidated statement from a variety of business systems including loan origination and core banking. The speed and size of downloadable PDFs are important. The system should be scalable to address the generation of millions of documents per month and able to download real-time statements in sub-seconds for it to download on a mobile device.

Financial Statement generation

Compliance Documents

Finance companies carry out investments and partnerships with companies in different countries and regions. Thus the documents need to be generated in different languages. Maintaining different templates for each language is difficult. Thus the system should be able to generate multiple document types from a single master template.

Documents are always generated using the most up-to-date templates and brand guidelines. Since these are system generated, they 100% adhere to standards, thus saving the need to check and double-check documents for compliance issues.

What to look for in document automation software?

In most of the legacy systems, document creation works by coding templates in the system. However, every time there is a change in the templates, the code will have to be changed. Moreover, they only generate a few document types. You need enterprise document generation software, a single system that addresses every document type and generation need.

Business user-friendly: Business users should be able to use existing templates as-is. They also should be able to change the templates by themselves without IT intervention.

Generation Modes: The system should support all three modes of document generation - bulk, on-demand (real-time), and interactive.

Integration with third-party data sources: It has to offer API and Webhooks for easy integration into the existing IT ecosystem. Thus, the users can generate from various data sources like core banking, portfolio partnership, and accounting platforms to pull in data and assemble them into a document template.

Workflow Integration: With workflow integration, your team is equipped to assemble and share contracts and agreements spread across different solutions quickly and accurately without worrying about data loss or threat to information security.

Variety of formats: Cater to the generation of various document formats for different distribution channels. It should be able to generate a TXT file for sending through SMS or a password-protected PDF for download.

Financial Statement generation

Why EDocGen works for financial service firms

EDocGen offers the best customer communication and digital experience platform that enables new account creation, account servicing, and personalized correspondence at scale.

It's a DIY business user-friendly document automation solution. The best part is business users can use existing custom templates for document generation. Moreover, it's flexible for automating the entire organization's documents.

  1. It's an API first product. Thus you can integrate it with your databases, applications, and other data sources for the creation of your financial documents.
  2. All the dynamic fields in your document such as tables, content blocks, images, etc. can be customized for all transaction types. Also, you have total control over document output using conditional logic, page breaks, and data filters. The system provides the flexibility to carry out the calculations right inside the templates.
  3. Another salient feature is the ability to create graphs or charts.
  4. You can sync generated files to document management systems(DMS) or cloud storage for archival.
  5. The system also allows you to send generated documents to individual recipients from your business email.
  6. Apart from creating the financial documents, you can also automate vendor onboarding and customer onboarding.

Financial services often need to reach a wider audience while keeping workforce the same yet improving profitability. With better speed and accuracy, financial document automation can deliver just that. Accelerate your organization's digital transformation journey with EDocGen document automation microservice.


As a financial services firm, when there is high risk involved in compliance, customer information security, and potential violation breach, it’s often a good sign to automate processes that stress your resources and reduce the work time to a fraction of what you are currently spending.

Besides, ensuring consistency in what your team puts out internally and externally is another saving grace to improving work quality, giving better productivity without cutting corners. It also cushions your clients against any potential issues, even while delivering a superior and personalized customer experience every time. It raises the bar to competitively outperform your competitors even while working within your resource constraints.

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