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Document Preparation Software for Banks - Benefits & Use Cases

document preparation software - papers flying out of a typewriter

The global banking industry is taking a keen interest in document preparation software as one of the strategies to implement a new wave of productivity. Although there have been mixed results for different industry players, a majority seem to have successfully automated their document preparation and are now seeing the benefits of this investment in IT transformation.

A survey by PwC indicates 81% of CEOs are anxious about the rate at which banking technology is transforming. Challenges arise with this transformation for banks that fail to embrace the disruption. Those however that do, tend to see minimized costs and increased efficiency not just with documents, but the entire process. Let us examine the importance of document automation for the banks.

Importance of Mortgage Loan Document Preparation Software

Banks that depend on a manual loan approval process, usually seem out of step with the demands of the modern client. The wave of paperwork involved in a manual process can tire the employees but also frustrate the customer. With document generation software, however, the approval time is accelerated. This means more mortgage loans can be approved in a shorter time and that implies more money can be expected.

But that’s not all. For a bank, the greatest importance of mortgage loan document preparation is probably the consistency and accuracy that come with using technology for such repetitive tasks. By subtracting human involvement from the process, there are fewer or no errors in the documents, so no worries about costly mistakes. The right figures are entered into the document along with important dates.

Commercial Loan Document Automation Software Provides Accountability

There is a clear digital trail when you use IT solutions for the loan process. All the figures that need to be recorded are efficiently recorded without any being left out. This means the bank can easily forecast its earnings based on the records it has of loans given out and when they will be paid. With such records, accountability is improved since nothing is missed and only authorized individuals have access to files. The auditing process too is made easier since the “paper trail” so to speak is clearer and easier to follow. For a bank, this is a vital positive element that enhances not just accountability but transparency as well.

The best document automation software makes what was once a laborious task much easier even without having to do double checks.

Customer Experience Is Improved

Automating the document process in a bank has a huge impact on the experience the customer has. First of all, it would be awesome to find customers who enjoy filling forms. It is even harder to find those who enjoy waiting in line. These are just a few of the challenges manual processes present and they can be solved by automating the document preparation process. Customer information can be captured quickly and passed on to the necessary departments for processing. This means less waiting for the customer and no one has to return to the bank to the annoying news that their file cannot be found or that the wrong data was entered.

So for the customer, whatever interaction they have with the bank involving documents will be greatly improved as the bank is using document template software that automates this loan approval preparation process.

Banks Can Reduce the Cost of Lending by Using the Best Document Creation Software

Several costs go into the processing of a loan. This process can demand a lot of paper as well as time to go through the paperwork. Think of some of the documents that would be required for a bank to approve a loan. Using a manual process will require that all these documents are copied and filed. This requires spending on paper and paying someone to do the copying and filing. With the right document generator, however, papers needed can be drastically reduced or even eliminated. All the required documents can be scanned and sent to the bank. The automation software will capture the information and store it digitally eliminating spending on paper.

Analytic Tools Provide a Mirror for Improvement

Document production software comes with analytic tools that can help you evaluate your processes. For example, if you want to improve your lending process, you can study the data from the tools that will show you which processes are fine and which ones need to be improved. It makes it possible to work faster and more efficiently.

Document Automation Enables End-to-End Standardization and Consistency of Documents

The banking industry is a heavily regulated industry that requires adherence to certain standards and procedures. It is usually hard to follow some procedures when you depend on manual document management. With automation, however, every document will be guided by set rules that the software adheres to. A user just needs to make a few choices and the right document will be produced with updated and standard data. Most of the software is designed to use familiar programs. For instance, you can make use of document automation Word integration so that everyone who knows how to use MS Word can generate documents with minimal training.

Banking depends on various documents of varying importance. It is necessary to identify which documents would present the best value to the bank If they were automated. Finding out how do you automate a document is just as important as determining which documents need to be automated. Some key guiding principles for this would be: how much money you will be saving by automating the document? How much time you will save, both for the employees and the customer as well as how frequently the document is needed.

Tags Start & End

Tags Can Start & End Anywhere

Appendix B

.NET code for multi-page image output

Appendix A

Java code for multi-page image output

Data Bin Search

The Data Bin can now be searched to find a table, column, node or other piece of data without scrolling through it all.

Shrink to Fit

This will shrink the contents of a cell until it fits the defined cell size.

Time Zone Conversion

A new Windward macro has been added to help with converting dates and times from UTC time to the local time zone.

Image Output Format

New image output formats added.

PostScript Output Format

PostScript, commonly used with printers and printing companies, has been added as an additional output format.

New and Improved Datasets (Designer, Java Engine, .NET Engine)

Datasets have been re-written from scratch to be more powerful and easier to use.

Stored Procedure Wizard (Designer)

This works for all tag types that are connected to a SQL-based data source (Microsoft SQL Server, Oracle, MySQL, or DB2).

Boolean Conditional Wizard (Designer)

Before, conditional statements could only be written manually. Now they can also be built using our intuitive Wizard interface.

Reorganized Ribbon

The ribbon menus have been re-organized and consolidated to improve the report design workflow.

XPath 2.0 as Data Source

Adds various capabilities such as inequalities,descending sort, joins, and other functions.

SQL Select Debugger

SQL Select  Debugger

  • The look and feel was improved
  • Stored Procedure Wizard
  • Improved Exceptions pane

Tag Editor/Tag Selector

Added a Query tab as a field for typing or pasting in a select statement

  • Color Coding of Keywords
  • TypeAhead
  • Evaluate is now "Preview"

Rename a Datasource

All tags using that Data source will be automatically updated with that name.

Connecting to a Data Source

New single interface to replace 2 separate dialog boxes

Tag Tree

Displays of all the tags in the template, structured as they are placed in the template. This provides a simple & intuitive way to see the structure of your template. Also provides the capability to go to any tag and/or see the properties of any tag.

Added Javelin into the RESTful Engine

Support for Google Application Engine Integration

The ability to integrate the Windward Engine into Google’s cloud computing platform for developing and hosting web applications dubbed Google Applications Engine (GAE).

Additional Refinement for HTML Output

  • Improved indentation for ordered and unordered lists
  • Better handling of template header and footer images
  • Better handling for background images and colors

Redesigned PDF Output Support

This new  integration will allow for processing of complex scripts and bi-directional  text such as Arabic.  Your PDF output  will be much tighter and more closely match your template, and we’ll be able  to respond rapidly to PDF requests and fixes.

PowerPoint Support

Includes support for new ForEach and slide break handling, table header row repeat across slide breaks, and native Microsoft support for charts and images.

Tags are Color Coded

Tags are color coded in the template by type, making it easy to visually identify them.

Increased Performance

Version 13’s core code has been reworked and optimized to offer a reduced memory footprint, faster PDF generation and full documentation of supported features and limitations in the specifications for DOCX, XLSX and PPTX.

Advanced Image Properties

Documents can include advanced Word image properties such as shadows, borders, and styles.

Improved HTML Output

Windward has updated HTML output to reflect changing HTML standards.

Version 13 New Data Sources

Windward now works with a slew of new datasources: MongoDB, JSON, Cassandra, OData, Salesforce.com

Generate Code

The Generate Code tool in the designer allows you to open an existing template and, with a click of a button, automatically create a window with the code needed to run your current template with all data sources and variables. Simply copy this code and paste into your application's code in the appropriate place. You now have Windward integrated into your application.

You only need to do this once. You do not do this for each template. Instead, where it has explicit files for the template and output, change that to parameters you pass to this code. Same for the parameters passed to Windward. This example uses explicit values to show you what to substitute in where.

Pivot Tables Adjusted in Output

Any pivot tables in an XLSX template are carried over to the XLSX output. The ranges in the pivot ranges are adjusted to match the generated output. So your final XLSX will have pivot tables set as expected in the generated file.

This makes creating an XLSX workbook with pivot tables trivial.

Imported Template Can be Set to Match the Parent Styles

In an imported sub-template, if its properties for a style (ex. Normal) differ from the parent template's properties for the style, the use in the sub-template can be set to either use the properties in the sub-template, or the properties in the parent.

You set to retain when you don't want the child template's styling to change when imported. You set to use the parent when you want the styling of the imported template to match the styling in the parent.

Any explicit styling is always retained. This only impacts styling set by styles.

Tags can be Placed in Text Boxes

Tags can be placed in text boxes. Including linked text boxes. This gives you the ability to set the text in a textbox from your data.

Tags can be Placed in Shapes & Smart Art

Tags can be placed in shapes & smart art. This gives you the ability to set the text in a shape from your data.

HTML Output Supports Embedded Images

When generating HTML output, the engine can either write bitmaps as distinct files the generate HTML references, or it can embed the images in the HTML providing a single file for the output.

Footnotes & Endnotes can Have Tags

You can place tags in pretty much any part of a template, including in footnotes & endnotes.

Document Locking Supported in DOCX & XLSX

Any parts of a DOCX or XLSX (PowerPoint does not support this) file that are locked in the template, will be locked the same in the output.

Specify Font Substitution

If a font used in the template does not exist on the server generating a report, the font to substitute can be specified.
In addition, if a glyph to be rendered does not exist in the font specified, you can specify the replacement font. This can be set distinctly for European, Bi-Directional, and Far East fonts.

Process Multiple Datasources Simultaneously

If you need this - it's essential. And if you don't need it, it's irrelevant.

Windward enables you to build a document by applying multiple datasources to the template simultaneously. When Windward is merging the data into a template, it processes the template by handling each tag in order, and each tag pulls from different datasources. (As opposed to processing all of one datasource, then processing the next.)

This allows the select tag to use data from another datasource in its select. For example, if you are pulling customer information from one data source, you can then pull data from the sales datasource using the customer ID of the customer presently processing to pull the sales information for that customer. If you're interested in patching together your data from multiple datasources, read this post on our blog.

Genesis Abel

Written by:_
Genesis Abel
Windward © 2020 All Rights Reserved.


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