Digital Transformation In Banking

ServiceNow has been working in partnership with leading banks to examine their core operations, identifying work processes that are complex, disconnected, and have led to poor customer experiences. We have designed a single solution to tackle those challenges.

Financial Services Operations of ServiceNow transforms how work gets done inside banks. It works with existing systems to serve as a bridge that connects the front, middle, and back office-resolving the biggest problems to deliver true transformation.

Transforming Loan Operations

The way that different types of loan service requests are managed across the institution is frustrating for everyone involved. Disconnected systems impede internal collaboration. Manual processes create inefficiencies and duplicative work. Visibility into the status of requests is poor.

You need a better way forward to help reduce rising loan servicing costs, especially as non-performing loans increase. Financial Services Operations enables the faster resolution of loan servicing issues. A single system of record provides real-time visibility into loan servicing tasks, improving collaboration between departments, and providing better transparency for customers. Digitized workflows streamline requests for information and documentation, creating less duplication and greater efficiencies.

Transforming Payment Operations

Resolving payment inquiries and investigations quickly and accurately is imperative-both from a regulatory and customer relationship standpoint. As digital payment technologies gain a stronger foothold, pressures are only escalating to close issues fast. But disjointed systems and manual communications still drive how the middle and back-office works, slowing progress slow and making it difficult to track what’s happening.

With Financial Services Operations, payment team members have a digital workspace where they can view all cases in one place, and manage tasks, such as researching payment errors and filing claims. Key financial account and transaction information is automatically populated for every transaction, allowing for a single system of action and significant automation.

Transforming Card Operations

Card operations runs workflows across many functional areas using manual, inefficient processes. Financial Services Operations simplifies how work gets done, providing out-of-the-box capabilities for managing credit card service requests, such as a new card, credit limit increase or decrease; block or unblock card; and close card.

Each type of service request has a dedicated workflow that triggers specific tasks. Requests are automatically routed to the appropriate employees in the back office. Real-time updates are accessible via each team member’s dashboard, helping address customer requests faster. The complexity is erased, with no extensive email trails or outdated spreadsheets changing hands.

We are at the beginning of an exciting journey as we build an industry-leading digital bank that will be beautifully simple and rewarding. We are committed to delighting our customers by providing a seamless, end-to-end experience across all channels. With Temenos’ advanced cloud technology, we will have the agility to bring new products to market and differentiate the customer experience. We will also benefit from the speed of deployment and gain operational efficiencies.