SLA, Speed, Cost, and Experience

Key Benefits: SLA, Speed, Cost, and Experience 

Modern ITSM translates directly into measurable business value for BFSI: 

• Improved SLA Compliance and Visibility: Automated tracking ensures that service-level agreements are met consistently. Performance Analytics dashboards give real-time insight into metrics (incident backlog, mean time to resolve, etc.). For example, a brokerage firm migrating to ServiceNow cut ticket resolution times by 30% and achieved a 27% ROI within a year. Global banks can likewise monitor SLAs across branches and ensure regulatory reporting deadlines are never missed. 

• Faster Incident Resolution: AI-driven tools (like ServiceNow’s Now Assist with Generative AI) can auto-triage incidents and suggest solutions. Workflow orchestration and knowledge integration speed up mean-time-to-resolution. In one case, a bank implemented ServiceNow and found that workforce requests that used to take days were resolved in minutes, with automatic escalations built-in. 

• Lower Support Costs: By automating routine tasks and enabling self-service, ServiceNow reduces the volume of tickets and associated labor. The North American bank we cited gained centralized visibility into software and hardware assets, identifying over $650K in wasted licensing spend. In service desks, fewer escalations and more first-contact resolutions lead to leaner IT budgets. 

• Enhanced Customer/Employee Experience: Today’s customers (and banking employees) expect service that rivals consumer apps. ServiceNow’s user-friendly portals and mobile access deliver that. According to Gartner, 88% of banking CIOs see “excelling in customer experience” as a top goal. ServiceNow helps achieve this with personalized service catalogs and automated status updates, so customers and employees know the status of their requests without calling or emailing. 

These improvements collectively boost ROI. For example, Standard Chartered Bank’s Finance Operations team used ServiceNow ITSM Pro and App Engine to automate entire workflows and launch a self-service portal. The result was a “vastly improved service delivery”, freeing staff from repetitive inquiries – cutting support queries by 80%. Another financial client reports saving tens of thousands of service hours annually by eliminating legacy manual processes. 

Security, Auditability, and Data Governance 

Security and regulatory compliance are non-negotiable in BFSI. ServiceNow ITSM addresses these needs on multiple fronts: 

• Governance, Risk, and Compliance (GRC) Integration: ServiceNow’s GRC suite provides templates and automation for controls and audits. Banks can manage risk registers, automate control testing, and ensure policies (PCI, SOX, ISO27001, etc.) are enforced across IT processes. Thirdera notes that ServiceNow’s GRC tools make “proactive risk management a standard practice,” minimizing surprises in audits. One case study showed ServiceNow enabling continuous compliance with multi-domain regulations simply by replacing spreadsheets with digital workflows. 

• Data Security and Audit Trail: Every change, incident, and request in ServiceNow is logged with time stamps and user IDs. This creates an end-to-end audit trail – a boon for internal/external auditors. Role-based access controls and encryption protect sensitive data (customers, accounts, transactions) in alignment with data privacy laws. 

• Operational Resilience: Built-in redundancy, data recovery, and continuous updates keep ServiceNow instances secure and up-to-date. As one global bank CIO put it, moving to ServiceNow “gave [us] a flexible, consistent IT architecture for service delivery” that could adapt to rapid change. 

• Fintech/Regtech Integration: Modern BFSI ecosystems rely on fintech solutions (like digital payments) and regtech (for KYC, AML monitoring). ServiceNow’s APIs and app marketplace allow seamless integration of these specialized tools into the ITSM workflow. This connectivity improves data governance by keeping all systems in sync and visible on one platform. 

In short, ServiceNow strengthens security and governance without slowing agility. By converting informal processes into automated, tracked workflows, banks gain confidence that they meet internal policies and external regulations, while cutting compliance overhead.

Why Global BFSI Leaders Choose ServiceNow ITSM 

Leading banks and insurers worldwide are adopting ServiceNow for several strategic reasons: 

1. Unified Global Platform: Large BFSI enterprises with offices across India, ANZ, APAC and the Americas need consistent processes. ServiceNow’s cloud platform is accessible globally and handles multi-currency, multi-language, and localization needs. For example, Standard Chartered – with 600+ branches in 53 markets – leveraged ServiceNow to standardize finance and IT service workflows across its network. 
2. Scalability and Performance: ServiceNow scales horizontally – it’s proven in deployments with 100,000+ users. Hybrid cloud models and high availability zones ensure that major banks can handle peak loads (e.g., quarter-end closing, trading spikes) without downtime. 
3. Proven ROI and Adoption: The ServiceNow economy includes thousands of success stories. Many global banks report 20–30% improvements in efficiency after cutting over. For instance, after 12 months of ServiceNow ITSM, one European bank “saw tremendous value” by reducing costs and increasing transparency across consumer banking products. These track records reassure new adopters. 
4. AI and Innovation: ServiceNow is embedding AI throughout its platform. Beyond Now Assist, features like predictive intelligence and virtual agents help BFSI organizations work smarter. Thirdera points out that ServiceNow’s low-code/no-code tools empower even non-technical staff to build custom apps, accelerating innovation. Banks can rapidly develop mobile apps (e.g., for customer onboarding or internal approvals) without lengthy IT projects. 
5. Modular Deployment: Banks can start with core ITSM and gradually add modules (ITOM, CSM, HRSD, GRC, etc.) as needed. This protects investment – they pay only for what they use and reuse existing integrations. This modularity also means running pilots or regional deployments first, then expanding globally once results are proven. 
6. Ecosystem and Expertise: ServiceNow’s partner ecosystem, including specialists like Kumori Technologies, provides deep domain knowledge. Partners help customize the platform for BFSI nuances (e.g., bond trading desks, insurance claim processes). At Kumori, our mission is to tackle critical business issues and modernize operations through innovative ServiceNow solutions. In practice, this means faster project delivery and alignment to industry best practices.