The many challenges of Documentation Generation Automation in a Financing Process
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The fact is that legal documentation is one of the main challenges in the process of loan or leasing origination.
The reason is very simple, not only are there many types of contracts, clauses, restrictions and constraints but also, each organization has its own legal texts and especially, its own rules of application.
The challenge of automating the legal documentation of a loan origination process is both a productivity and a financial institution’s profitability challenge as it greatly reduces the financing cycle and the number of loan errors. In addition, automation allows the organization to truly take a digital turn by eliminating paper from the process.