3 Key Advantages of Automating Financial Services Documents

Gain an edge on the competition by automating your critical admin activities


The financial services industry largely relies on document management. Every day, financial businesses and their clients collect and input data, create new documents, and review and sign off essential files. These processes can be long and tedious, and sometimes even result in errors or inaccuracies. However, with document automation, these challenges are easily overcome.

It’s well known that document automation can vastly improve document management processes for businesses by automating tedious and repetitive tasks, increasing data consistency, and speeding up approval and review tasks.

However, document automation has unique advantages for the financial services industry that go beyond the typical business-related benefits. These key advantages can be summed up in three separate benefits: The ability to automatically create personalized documents, the use of accurate customer data, and the power to review and sign off documents electronically.

Automate the creation of personalized documents

Document automation tools like GCI’s document automation enable you to easily automate the creation of highly personalized financial documents that adapt to your needs and clients. These documents can incorporate client details, account-specific figures and charts, calculations, terms and conditions, privacy policies, and more.

These dynamic templates allow you to rapidly access and issue documents customized to your clients’ needs, speeding up your delivery and service times. They also help you stay relevant and compliant as you operate your services.

Workflows play a significant role by integrating with your organization’s CRM platform. This enables you to rapidly complete forms for the efficient generation, management, and delivery of documents such as loan payment notices and financial portfolios.

Ultimately, the ability to automatically create personalized documents enables you to create customized loan applications, customer notices, and more in a matter of seconds, helping you serve your clients faster and with more convenience than non-automated, paper-based competitors.

Use accurate customer data to stay compliant

Perhaps one of the most significant advantages of document automation is the ability to incorporate data from multiple sources into an assembled document. You can access financial services, accounting, ERP, and CRM databases to obtain error-free, up-to-date information for your documents automatically.

Unlike paper-based document management processes, document automation eliminates duplicated data. Clients fill out their information only once and are updated accordingly with more accuracy, convenience, and speed than paper-based processes could ever provide.

A superior document automation solution, like GCI document automation, has thousands of integration opportunities with external applications. This gives you the power to create financial document templates that use the most up-to-date details of your clients, their figures, and other relevant information.

You can include calculations on your documents to express figures such as savings growth, interest, deductions, and more. This saves you time, effort, and eliminates human error while keeping your organization compliant.

Finally, with strict security controls, document automation ensures only authorized personnel can access confidential customer data.

Offer fast and secure electronic signing

The financial services industry relies on the swift review and signing of multiple documents every day. However, manually signing documents comes with its own problems. Documents can get damaged, signatures are sometimes illegible, and clients occasionally sign in the wrong location, rendering the entire document void.

Document automation solutions provide electronic signature capabilities, enabling you to quickly collect secure and legally-binding signatures on financial documents anywhere, anytime, and from any device. Signature locations are automatically assigned correctly and make signing documents a fast, efficient, and convenient experience for clients as well as financial businesses.

Now, processes like opening accounts, mortgage, and other loan applications can be quickly reviewed, approved, and signed off.  With automated workflows assigning the right person to where their approval is needed, document automation accelerates business operations acrossyour entire company.

Offer a Superior, Hassle-free Service

A financial business with document automation is a business with a competitive edge. By eliminating paper-based processes and implementing an automated environment for your document management, you enable your company to operate faster and more efficiently.

Global Cents offers premium document automation solutions designed specifically for businesses in highly competitive and regulated industries such as the financial services industry. The GCI PowerTools document management suite includes all the tools you need that specialize in collection, publishing, reviewing, templating, and signing.

If you would like to gain a competitive edge and improve your business efficiency, contact Global Cents today and experience the difference.