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Document Software: Document Generation is Key for Banks


Documents in the banking and financial sector are mission critical. And while there are dozens of different types of “document software,” none offers a better return on investment (ROI) for financial institutions than document generation platforms, such as the industry-leading HotDocs.

To date, four of the five largest banks in North America, not to mention dozens of smaller banks and credit unions, use HotDocs to transform complex, rule-based documents into document generation process applications. Such process apps utilize interactive, sequential forms to gather all the information necessary to automatically generate a transaction-ready document or set of documents. With the data gathered, it’s a simple matter of printing documents and profiling them into a content repository.

Document generation process apps can be deployed standalone or can be integrated into virtually any kind of BPM workflow or case management system. One international bank has integrated HotDocs into a sophisticated loan-origination workflow that leads relationship managers through a complex data-gathering interview for its commercial lending business. The workflow cuts days off the process, enables the loan committee to quickly review data sets—rather than wade through lengthy, written explanations by relationship managers—and enforces compliance to internal and external regulations in thousands of branch offices around the globe.

A Western-states agricultural credit union uses complex HotDocs process applications to govern its expansion, both in new branch offices and in acquired credit unions. Again, the key is not the speed with which the credit union can generate documents but, rather, the structure and order that HotDocs imposes on its lending practices. By forcing loan officers in outlying branches to use the same process applications, the credit union management can feel comfortable that documents comply with regulations, thus mitigating loss from bad loans.

Of course, that’s just a sample. To learn more about how HotDocs can help your institution, give us a call.

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