Today there is a great digital revolution happening in the financial services industry. More and more people are turning towards financial institutions that exist mostly on a digital platform as opposed to brick-and-mortar. FinTech has accelerated this push to bring the industry into a digital environment.
Surprisingly, recent studies showed that it’s not just the younger generation, but also a majority in the older age group also prefer digital financial products. Digital loan processes provide enhanced transparency and improved customer experience.
Historically, loan originators worked on manual document processes. This increases the cost of originating loans. According to the Mortgage Bankers Association, it reached $8,887 per loan in the first quarter of 2017. Effective use of technology can translate into less upfront work for originators, more loans in the pipeline, faster closings, and happier borrowers. This is a win-win for all stakeholders. Thus, a higher number of loan originators are embracing digital loan processes.
Automate Loan Document Automation
Loan documentation software is the most cost-efficient digital transformation for financial institutions. It streamlines the processes and generates great ROI in very short periods.
Loan document systems handle many kinds of borrowers, collateral, and loan types. They let lenders digitize and speed up the whole loan process. Key benefits include:
Create loan applications quickly.
Make supporting documents like loan scenarios, even when originators need to move complex Excel calculations into Word or PDF.
Generate accurate loan document packages using data from LOS, CRM, and other front-end systems.
Complete the full loan package: commitment letters, borrowing resolutions, loan agreements, guarantees, promissory notes, and security instruments—while keeping flexibility for different deals.
Connecting the system to an e-sign provider for fast, secure signing.
Together, these features improve the borrower’s experience and make back-end loan production faster and more reliable. Lenders can produce higher-quality loan files in less time.
Choosing the right loan documentation software is critical. One of the most common approaches for automating loan document creation is by coding the templates in the core system. This is expensive and maintenance-heavy. Moreover, document templates undergo frequent changes and thus require associated code changes whenever there is a change in the templates. This makes business users ever dependent on resource-constrained IT departments.
It is the fastest and the simplest way to auto-generate documents and was specifically developed for auto-generating loan documentation. It is a DIY loan documentation software with an intuitive interface. You can generate loan documents from both your PDF and Microsoft Word templates.
Your business users can create/edit templates in their favorite Microsoft Word/PDF editors. Thus it empowers them to have complete control over template changes.
One of the biggest bottlenecks in the lending process is document collection. Many organizations still turn to email for requesting and collecting documents from customers to complete the loan application process. This wastes loan officers' and administrators' productivity.
Business users can auto-generate fillable forms from existing loan templates. Customers can access these forms online. They can fill out these forms, E-Sign, and upload supporting documents before submitting the forms. The system populates the form data into the templates to generate loan packages. This increases loan processing capacity and improves customer experience.
We’ve all been there: You have a critical deadline for a batch of contracts, but the data is trapped in an Excel sheet that looks more like a crossword puzzle than a database. There are merged cells for headers, some data runs horizontally, some vertically, and traditional mail-merge tools are throwing errors at every turn.
In the past, the "solution" was hours of manual data cleaning or a desperate call to the IT department. EDocGen was built to end that cycle.
Most document generation software expects "perfect" data—tidy rows and columns with a single header at the top. But in the real world, especially in finance, spreadsheets are designed for human readability, not machine processing.
When a tool encounters a merged cell or an irregular layout, it loses its place. It can't tell where one record ends and the next begins. This leads to broken templates, missing information, and—worst of all—costly manual data entry.
EDocGen doesn't just read cells; it understands context. Our AI-driven system analyzes the underlying structure of your Excel files, no matter how "messy" they appear.
Our AI finds headers and messy data, even when cells are merged or scattered. It cleans and normalizes those areas so the information is consistent. Then it maps how each data point relates to the others with precise accuracy. That way, what you see on the screen matches exactly what appears in the final document.
Data doesn't always flow from left to right. Our machine learning models are trained to recognize patterns in any orientation—vertical, horizontal, or a mix of both. This is a game-changer for loan applications or complex lists where data points are stacked in unconventional ways.
The most tedious part of document generation is manually linking Excel columns to Word tags. EDocGen automates this. By deducing field relationships, the system suggests the best mapping for your templates. You simply upload, verify, and generate.
Imagine a loan officer processing a spreadsheet with dozens of complex merged calculations. With EDocGen, those calculations are reconstructed perfectly into a professional Word document or PDF.
Speed: Create thousands of documents in the time it used to take to create ten.
Accuracy: Eliminate the human error inherent in "copy-pasting" from Excel.
Autonomy: Business users can manage the entire process without waiting for IT support or custom coding.
Using EDocGen loan documentation software makes your work faster and easier. It saves time and reduces errors. Your customers get a smoother, more professional experience. The software helps you follow rules and lower risk. Overall, it improves efficiency and boosts customer engagement.
Contracts are an essential part of business operations for any enterprise. Manual drafting wastes resources.
Financial document automation can solve many issues that pull your company’s bottom-line down.
Deloitte research revealed that on average 38 percent of customers drop out of the onboarding process.