Transforming Financial Services Business Through Servicenow

Author(s)	Sravanthi Mallireddy
Country	USA
Abstract	The digital revolution of financial services marks a significant shift in how banks and financial institutions operate, serve consumers, and manage risk. This comprehensive study investigates the transformative impact of ServiceNow adoption on several aspects of financial services operations, including customer service, risk management, and regulatory compliance.This study looks at how ServiceNow helps financial institutions fulfill changing client expectations while remaining regulatory compliant and operationally efficient. The study's analysis of several implementation examples reveals considerable improvements in operational measures, such as a 20-30% reduction in operational expenses, a 40-50% improvement in process efficiency, and a large increase in customer satisfaction. The findings are helpful for financial institutions considering digital transformation efforts, as they provide practical recommendations on implementation tactics, change management approaches, and best practices for maximizing return on investment. This report provides a complete roadmap for financial institutions beginning on a digital transformation path with the ServiceNow platform.
Keywords	serve consumers, digital transformation, financial institutions
Published In	Volume 6, Issue 3, May-June 2024
Published On	2024-06-25
DOI	https://doi.org/10.36948/ijfmr.2024.v06i03.12099
Short DOI	https://doi.org/g82hrb

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International Journal For Multidisciplinary Research