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How smart connections can help exceed customer expectations

Oct 28, 2020 / Customer Experience

Financial Services Operations (FSO) achieves greater productivity at a lower cost while improving customer and employee satisfaction. It does this by enabling streamlined operations and connected experiences between customers and the front, middle and back office teams.

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The demo showcases Payment Operations, an out-of-the-box application that enables payments teams to automate work, collaborate more efficiently and resolve customer issues faster. The demo walks through the end-to-end experience of resolving a payment issue in four steps:

  1. A customer reports a missing payment through their preferred channel
  2. The case is instantly routed to a payments analyst in the middle office
  3. Automated tasks and controls validate the case details and recommend actions
  4. A claim is created and processed to resolve the issue.

The ServiceNow platform is the single system of action. All participants have real-time visibility to the case status; embedded controls track SLAs; and a connected IT infrastructure provides relevant servicing alerts.

Re-wiring financial services operations for a bold future

In today’s interconnected world, customers and regulators expect more from financial institutions: more transparency, more security, more services, more personalization. See how institutions are meeting these expectations and transforming operations to improve the customer experience in three ways:

  1. Creating connectivity
  2. Maximizing efficiency and unlocking productivity
  3. Improving flexibility and agility

The business value of ServiceNow for retail banks

As banks begin recovering, projects that provide immediate ROI and help develop resilient operations, improve customer experiences or improve compliance through improved service management will become critical to how quickly banks can recover, now and in the future. In this context, IDC spoke with a number of retail banks about their use of ServiceNow as a service management platform for their business operations. Of the retail banks IDC spoke with for the report, it places the platform’s value at an annual average of $29.54 million per organization.