Financial Services OperationsTransform business operations to enhance customer experiencesFinancial services organizations today need to fuel business agility and resilience to drive growth, to strengthen business continuity, and enhance employee productivity. Digital transformation needs to reach into the core of operations, beyond the slick customer interface. It must address key operational issues, to deliver greater transparency, more services and more personalization – and do so quickly and efficiently.

ServiceNow® Financial Services Operations is a cloud-based digital workflow platform that offers a faster and more economical approach to transformation by connecting business processes in financial institutions, front to back, on a single system. Financial Services Operations impacts the experience of customers and employees, driving increased efficiency and improving resilience and profitability.

Connect disconnected processes and teams

With out-of-the-box, purpose-built applications for payment, loan, and card operations and a data model aligned to industry standards, financial institutions can quickly and easily add new capabilities, connect siloed teams, and share services across their enterprise. Critical customer information can be viewed in a single place, making it easier to resolve issues and requests. Workflow automation and digital channels help simplify and speed processes across the front, middle and back offices. Financial Services Operations solves the challenge of fragmented business environments by connecting legacy systems and processes across front, middle, and back offices. The result: connected, efficient and agile operations that create seamless, connected experiences for customers and employees.

Improve operational resilience

With COVID-19, financial institutions must figure out how to securely manage an increasingly hybrid workforce scattered across office and at-home with limited time, resources, and budgets. IT investments must deliver value fast, scale efficiently, and easily adapt to changing business priorities. Working together, Financial Services Operations and IT Service Management proactively and automatically alerts employees, of system and service issues that may impact their ability to service their customers and set appropriate expectations. Organizations can have a clear view of software and hardware assets supporting their business services, reduce outages and improve operational agility and resilience.

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Provide fast customer responses for payment inquiries

Source: Rewriting the rules: Succeeding in the new retail banking landscape, McKinsey, February 2019

A systematic redesign of customer bankingjourneys can result in at least a 15–20% liftin customer satisfaction.

Process automation and AI can reducecosts in the front, middle, and back office by as much as 30–40%.

Highly satisfied customers are two-and-a-half times more likely to open new accounts/productswith their existing bank

Streamline loan servicing operations across the organization

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Financial Services CapabilitiesFinancial Services Card Operations Provides pre-built workflows to create and manage typical cases and tasks for credit card requests.Financial Services Payment OperationsProvide workflows that can helpbanking customers create payment inquiries and check the status of their inquiries.Financial Services Loan OperationsSupport retail and business loan servicing on a single platform with workflows routing to different teams including loan officers, document agents, credit officersFinancial Services Document ManagementProvide a centralized ability to track and manage document collection and distribution based on service and customer type

Core CapabilitiesProactive Customer Service Operations Monitor your customers’ products and services to identify issues and proactively fix them.

Predictive IntelligenceUse machine learning to route issues, recommend solutions, and identify knowledge gaps.

Virtual AgentImprove the customer self-service experience with conversational guidance using a chatbot.Performance Analytics Drive growth across the business by making better decisions, faster, with insight into patterns and trends.Playbooks for Customer Service Manage case flows across teams by digitizing and automating service processes.

Guided Decisions Dynamically guide agents to resolve complex cases with contextual recommendations.

Customer CentralGive agents a consolidated view of internal and external customer financial data to boost productivity.

Reports & DashboardsGenerate and distribute customers reports and dashboards on demand.

Continual Improvement Management Initiate and track improvements across the enterprise by aligning people, processes, and data.Agent WorkspaceEnhance agent productivity with multitasking, integrated solutions, and an optimized layout.Case ManagementManage customer interactions and visually track activities, case status, and SLAs.Omni-Channel Integrate telephony systems and support customers across online banking, mobile banking, and social media.Visual Workflow and Automation Automate assignments, tasks, and service processes with a simple drag-and-drop interface.Customer Project Management Manage your entire project lifecycle and empower customers and agents to manage project tasks.Knowledge ManagementProvide instant access to relevant knowledge for customers and the agents who serve them.CommunitiesConnect customers and employees with their peers to find answers and solve problems.

Mobile AppManage cases on the go with a consumer-style app using native device features.Service Management for Issue ResolutionIdentify, diagnose, and permanently resolve customer issues.Advanced Work Assignment Automatically route work to the best agent based on criteria or an affinity to the case.Visual Task AssignmentAssign customer requests and tasks to other departments with visual task boards.SurveysUse surveys to measure voice of the customer and stay current with customer concerns.

Harness the power of analytics to drive business continuity

Intelligently track customer requests and automatically route them to the right department

Provide a centralized ability for the agents to track and manage inbound and outbound documentation

With out-of-the-box workspaces and workflows speed deployment and gain quick time to value