The financial industry continues to move forward with the times. With this, the days of traditional banking and customers traveling to physical branches for all their banking needs are seemingly in the past. There is still a need for these branches, but customers now expect to be able to handle most of their banking needs online. Whether this is through a website or via an app. Long-winded processes such as submitting proof of ID, for example, can be simplified by uploading the files to the bank’s website instead of going into a branch. So, with customer experience becoming increasingly important, how can financial document automation improve your bank’s data collection and communication sending processes? In this article, we will explore five ways that document automation can prove beneficial for banks and other financial institutions.

Create New Documents Quickly

When creating important documents such as bank statements, contracts, and general customer correspondence, it can be tricky to produce the documents correctly and with full accuracy at the speed at which they are needed. With financial document automation, you can quickly generate and produce accurate customer communications that are compliant. Reducing the time spent creating these documents will allow your teams to focus on and prioritise other vital work.

Easily Adjustable Document Templates

One way to automate and create a more efficient process for producing financial documents is to use standardised document templates. These can be created with consistent branding and structure to ensure that your communications are always presentable and convey the information required with full accuracy. Templates also save time and remove the need for team members to spend time designing/producing new documents. By using consistent branding, design, and messaging, your customers will know what to expect and will be more satisfied with the customer experience.

Easily Store And Reference Previous Customer Communications

Another area you can optimise with financial document automation is with the storage of your previous customer communications. Whether it is a bank statement or an update on a current account that you previously sent out, your customers will expect your teams to be able to reference these documents quickly on calls. This can be achieved by creating what we call at Sefas, a ‘golden communication record’ that allows for quick access to all previous customer communications for each customer. By providing this record of previous interactions and communications, you can save your team many hours and improve the accuracy and efficiency of your customer interactions.

Easily Create Compliant Documents

The biggest problem with creating financial documents is that they need to constantly adapt to be compliant with any new regulatory changes. The team members creating these communications also need to remain current on all these changes and adapt the communications accordingly. With financial document automation from a CXM solution, you can ensure that all of your communications remain compliant. This then reduces issues and improves the overall customer experience.

Collaborate Between Teams Effortlessly

Collaboration between teams allows your business to provide the best possible customer experience. Often, vital information can be locked in data silos within individual teams. This results in delays as one team gets in contact with the other team to get the information. By storing all of your assets used across different software in one neat solution, you remove the need for constant communication between teams.

How Can Sefas Support Your Business With Financial Document Automation?

Sefas offers a CXM solution that makes sending out all your customer communications easy. The Harmonie Communications Suite (HCS) offers key features, including document and template creation, communications auditing software, storage of previous customer communications, and more. With HCS, you can design and build a leading customer experience with compliant and quickly delivered communications to your customer’s preferred platforms. To learn more about how HCS can support your business, contact us today.