Digital Invoicing

7 Types of Financial Documents to Automate in a Financial Web Portal

October 26, 2021
Author
Inkit Team

Financial and banking organizations handle many kinds of standard documents. Invoices, bills, bank statements, compiled financial statements, and other reports are based on templates. It allows processing them faster by filling in custom fields.

Still, for comprehensive automation, you need automated document generation in your financial services’ web portal. Then, it will automatically render the necessary PDF docs based on real-time triggers or events. For example, the portal will send compiled financial statements every month or display transaction confirmation after money transfer.

Not sure what types of documents are suitable for automating? This article guides banking and financial services on document rendering automation.

Why Convert HTML into PDF for Automated Document Generation in Financial Portals

Although some financial services support desktop software, the majority of modern systems are web-based. It means they initially create compiled financial statements and other documents in HTML. HTML is a web page format, which allows creating custom documents using data retrieved from the server. These files don’t have a structure and cannot be printed. They only include the necessary personal and financial information.

To store and share the compiled financial documents meeting banking software compliance requirements, you need to create PDFs from HTML. Since PDF files have a clear structure and support electronic signatures, it’s the primary format for official documentation and record-keeping.

Therefore, custom document generation in financial and banking software relies on HTML to PDF rendering. The software solutions automatically convert HTML into PDF to display the generated files and allow retrieving them.

Learn How to Prepare Your HTML File for Flawless Conversion to PDF

HTML into PDF

7 Types of Financial and Banking Documents to Automate

Automated document generation enables financial services to generate almost any document type. Only highly-customized unique reports are not suitable for automation. Organizations usually create them on a one-time basis and, hence, automation is ineffective.

Here Inkit has collected the most common categories of documents you should automate in banking and financial web portals. If you handle one of them, automation will save you a lot of time and money.

#1. Information Notices

If anything critical happens with a customer's bank account or finances, you should inform them about the issue. Official notices can be automatically generated in PDF to be delivered to emails or by mail. The PDF format allows printing the document for offline delivery, which is essential for financial institutions.

#2. Invoices and Bills

Many small and medium businesses prefer invoice financing platforms over banks. If you support such a web platform, automated invoice generation is essential to provide the services. By adding automated invoice rendering to your software, you can create custom invoices with personalized fields in PDF.

Guide to Electronic Invoice Rendering and Automation

#3. Compiled Financial Statements and Other Kinds of Statements

Statements are the foundation of financial documentation and, therefore, must be automated. Since any financial organization handles lots of statements, the optimization of their processing has a significant impact. It improves user experience and frees the employees from routine tasks. Users can automatically generate the necessary kind of statement using templates in a financial or banking portal.

Start from the most common types, like compiled financial statements or bank statements. Compiled financial statements require compilation engagement of a Certified Public Accountant (CPA) and are very common among businesses. Bank statements include cash flow, income, and other types of statements that summarize financial activities related to a specific account.

Out-of-the-box PDF generation
The easiest way to automatically generate and manage paperless documents at scale.
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#4. Tax Documents

Many modern financial and banking platforms enable users to pay their taxes and send related reports online. It’s a convenient feature for businesses and citizens to manage all the transactions from a single interface. If you also offer a web solution with tax functionality, there is a lot of space for automation.

Allow users to fill in tax forms online and implement automated pre-filling for quicker submission. It’s also necessary to convert HTML into PDF to make the completed forms downloadable. It allows payers to retrieve the reports and meet the regulatory requirements of the compliance program they follow.

Besides, a financial web platform should automatically store PDF copies of generated tax documents in the cloud. Users and regulatory bodies must be able to access them on request.

#5. Customer Service Communications

Banking document management software sends emails, alerts, and other notifications. When something critical happens, online communications allow banks to inform customers about it. For example, when an unauthorized access attempt occurs, the account owner gets notified.

By automating such messages, you get several advantages at once. Since consumers instantly receive critical alerts, the customer experience improves. People appreciate that you care about their data privacy. Besides, data security does increase. Automated alerts allow you to ask customers to take action in case of a threat. As a result, you can stop attackers before they unlawfully access confidential information.

Apart from the listed uses, when you automatically convert HTML into PDF for document rendering, you also automate archiving. The web portal automatically stores the generated communications for record-keeping and bank regulatory compliance.

#6. Agreements and Claims

If your web portal enables users to sign electronic agreements or submit claims, automate them. The platform will convert HTML into PDF to keep the document copies and deliver them to customers. Such automation is easy since most agreements and claims have a standard format and fields.

Customer Service Communications

#7. Request Forms

To allow users to send a transfer, card, or any other request through a web platform, you also need to convert HTML into PDF. These are official requests that require supporting documentation. Hence, the web platform must be able to store PDFs of received requests.

How to Integrate Automated Document Rendering in a Financial Web Platform?

To automatically convert HTML into PDF in a web platform, you must develop or connect rendering functionality. The integration of document automation capabilities is more cost-effective than custom development. Hence, it’s a recommended option.

An HTML to PDF rendering API allows you to add document generation into an existing web platform without heavy coding. Using an API key, you connect your financial or banking software with the document automation platform. After the integration, the API manages PDF document generation requests and automatically stores copies in the cloud.

API-based document automation is suitable for all kinds of documents generated from templates. Hence, you can integrate it into any platform written in commonly used programming languages.

Programming Languages That Can be Used for Document Conversion with an API

Render Document Generation Platform API for Financial Institutions

Inkit Render is a document automation platform that integrates with financial and banking web solutions through an API. Its work is based on real-time web browser HTML to PDF conversion and retrieval. When a trigger or event happens, Render automatically creates a custom PDF.

Thanks to user roles support, Render ensures ultimate data security, critical for banking software compliance. You can create teams and control who accesses the processed documents and what they do with the files.

Check out Render pricing here or get the free plan to convert HTML into PDF now.

Out-of-the-box PDF generation
The easiest way to automatically generate and manage paperless documents at scale.
Start for free