Client Story: Top-10 US-Based Global Financial Services Firm

Global Financial Services Firm Streamlines Document Generation with HotDocs

A US-based, global financial services firm with assets of $2 trillion, more than 250,000 employees, and operations in 60+ countries uses HotDocs for its document generation needs. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity.

Since being introduced to HotDocs in 1995, the bank has made numerous acquisitions and divestitures. With each of these reorganizations, HotDocs has remained a strategic application supporting the Commercial Middle Market line of business. As the organization has grown, its HotDocs application has also grown and transformed to actively participate in an increasingly competitive business environment that demands increased flexibility and efficiency in loan document preparation.

Prior to the introduction of HotDocs, this organization used an elaborate series of word processor macros to generate documents—a process that had several pitfalls and frequently frustrated users. The deployment of HotDocs in 1995 initiated a much-improved document preparation methodology that continues to develop and render benefits to this day.

Initially, a HotDocs “master interview” process was created to gather information that would be common to all required documents. Close to 350 HotDocs templates were developed and successfully deployed. Document version control was achieved with the integration between HotDocs and FileNet, a market-leading enterprise content management application. Not only did the FileNet integration allow users to profile assembled documents and store them in a secure, fully searchable repository, but it also provided centralized storage and versioning functionality for the HotDocs templates themselves.

“Automating our loan documents in HotDocs and having intuitive user interviews supported via the HotDocs application was a huge step forward in and of itself, but the ability to integrate HotDocs with a content management system like FileNet made the whole process even more compelling,” stated the bank’s Assistant Vice President and HotDocs Product Manager.

Currently, the bank has implemented 500 templates in HotDocs that are used to support the Commercial Middle Market and Commercial Leasing lines of business. HotDocs is currently integrated with the systems of record (SOR) supporting these lines of business, which, in the case of Commercial Leasing, provides a successful interface of close to 85% of all necessary data elements required to produce loan closing documents.

“The ability to successfully interface with systems of record without user intervention is where everybody wants to be in today’s competitive marketplace,” said the company’s Vice President and HotDocs Application Development Manager.

The company’s Commercial Middle Market group upgraded to HotDocs Server in 2011 in conjunction with another line of business. This migration has helped them achieve even greater efficiencies and improvements to its infrastructure.