Financial Services Operations (FSO) for Banking: Application Overview

mmcdonnell · 2 hours ago

Financial Services Operations (FSO) for Banking: Application Overview

Objective: This document provides a high-level overview of ServiceNow Financial Services Operations (FSO) banking applications to help practitioners, implementers, and business stakeholders understand the core capabilities available out-of-the-box. The goal is to help teams quickly assess which FSO applications align with their operational needs and understand how these configurable foundations can be tailored to support their institution's specific workflows, business rules, and strategic objectives.

ServiceNow Financial Services Operations (FSO) provides a suite of out-of-the-box (OOTB) banking applications designed to help financial institutions streamline operational work, automate common processes, and improve transparency and service delivery. FSO delivers a foundation of industry-aligned workflows and data models, enabling you to automate and modernize operations at scale.

At the same time, FSO is built to be configured and extended. Each banking application is a starting point with configurable workflows, fields, rules, and user experiences so you can tailor your implementation to match your institution’s specific needs or even build new applications using the same FSO building blocks.

Below is a high-level overview of the key FSO Banking applications:

Deposit Operations: Deposit Operations helps banks automate and manage high-volume, back-office processes related to deposit accounts and transactional servicing.

Key capabilities include:

Deposit account maintenance and servicing requests
Check-related servicing and stop payments
Transaction adjustments and exception handling
Back-office operational tracking, SLAs, and visibility

Deposit Operations gives operational teams a consistent framework that can be tailored to specific product rules, workflows, and exceptions.

Documentation: ServiceNow Financial Services Deposit Operations

Download from store: Financial Services Business Deposit Operations

Download from store: Financial Services Personal Deposit Operations

Loan Operations: Loan Operations offers a foundation for servicing loan-related operational work across retail and commercial loan portfolios.

Key capabilities include:

Standardized loan servicing case and task workflows
Document collection, approvals, and servicing tasks
Exception handling and operational tracking
Integration with broader customer and banking journeys

Loan Operations can be extended to support unique loan products, servicing rules, and compliance requirements.

Documentation: ServiceNow Financial Services Loan Operations

Download from Store: Financial Services Personal Loan Operations

Card Operations: Card Operations delivers pre-configured workflows and case management to handle common card-related operational work.

Key capabilities include:

Support for credit and debit card requests
Lifecycle task creation and management
Exception tracking and resolution support
Dashboards to manage operational workload

This application is designed as a starting point for card servicing workflows and can be adapted to your institution’s specific card program and operations.

Documentation: ServiceNow Financial Services Card Operations

Download from Store: Financial Services Card Operations

Payment Operations: Payment Operations standardizes how banks manage payment-related operational work and inquiries.

Key capabilities include:

Support for payment exceptions, investigations, and claims
Automated workflow orchestration for payment-related cases
Integration points with agents, systems, and operations dashboards

Payment Operations provides a consistent structure for payment workflows while leaving room for institution-specific logic and routing.

Documentation: ServiceNow Financial Services Payment Operations

Download from Store: Financial Services Payment Operations

Dispute Management: Disputes Management (often delivered with partner integrations such as Visa) focuses on centralizing and streamlining dispute workflows on a single connected platform. Technically Dispute Management is a part of the Card Operations application.

Key capabilities include:

End-to-end dispute resolution case management
Integrated workflows and visibility across systems
Built-in compliance tracking and auditability

Disputes Management can be integrated with broader operational workflows in FSO or extended to align with your dispute lifecycle and processing rules.

Documentation: ServiceNow Financial Services Disputes Management

Download from Store: Disputes Management is included within Financial Services Card Operations. Related integrations: FSO Integration with Visa | FSO Integration with Mastercard

Treasury Operations: Treasury Operations supports operational workflows related to treasury-centric services (e.g., cash management, liquidity servicing, due diligence, and fulfillment).

Key capabilities include:

Creation and management of treasury service cases
Document task generation (for agreements, compliance artifacts)
Workflow orchestration for due diligence and fulfillment tasks
Analytics and dashboards for operational insights

Treasury Operations provides a foundation that can be tailored to the unique workflows of corporate cash, liquidity, and treasury servicing teams.

Documentation: ServiceNow Financial Services Treasury Operations

Download from Store: Financial Services Treasury Operations

Intelligent Servicing for Fraud: Intelligent Servicing for Fraud is designed to help banks manage fraud-related servicing work with connected workflows and dashboards.

Key capabilities include:

Submission and tracking of fraud case requests
Specialized fraud agent and fraud manager workspaces
Support for card fraud alerts and fraud investigation workflows
Operational transparency and SLA tracking

This application provides a structured starting point for fraud case management and can be extended to incorporate additional fraud signals, integration with monitoring tools, and rules based on your institution’s risk models.

Documentation: ServiceNow Intelligent Servicing for Fraud

Download from Store: Intelligent Servicing for Fraud

Common FSO Applications

In addition to the banking-specific applications outlined above, FSO includes a set of common applications that support core operational processes across all financial services verticals—including banking, insurance, wealth management, and capital markets. These applications address universal operational needs such as regulatory compliance, customer onboarding, and risk management, and can be leveraged regardless of your institution's primary line of business.

Complaint Management: Complaint Management provides a standardized framework for capturing, tracking, and resolving customer complaints across all lines of business while maintaining regulatory compliance.

Key capabilities include:

Centralized complaint intake and case management
Automated workflows for complaint investigation and resolution
Regulatory reporting and compliance tracking
SLA management and escalation handling
Analytics and dashboards for complaint trends and resolution metrics

Complaint Management can be configured to align with your institution's specific complaint categorization, routing rules, and regulatory requirements across banking, insurance, and wealth management operations.

Documentation: ServiceNow Financial Services Complaint Management

Download from Store: Financial Services Complaint Management

Customer Lifecycle Operations: Customer Lifecycle Operations streamlines end-to-end customer onboarding, account opening, and lifecycle management processes across financial services products.

Key capabilities include:

Automated customer onboarding workflows
Account opening and product fulfillment orchestration
Document collection and verification tasks
KYC/AML integration and compliance checkpoints
Lifecycle event management (account changes, closures, etc.)

Customer Lifecycle Operations provides a foundation that can be extended to support institution-specific onboarding requirements, product portfolios, and compliance frameworks.

Documentation: ServiceNow Financial Services Customer Lifecycle Operations

Download from Store: Financial Services Client Lifecycle

Know Your Customer (KYC): Know Your Customer delivers workflows and case management for customer due diligence, ongoing monitoring, and regulatory compliance related to customer identification and risk assessment.

Key capabilities include:

Customer due diligence (CDD) and enhanced due diligence (EDD) workflows
Periodic review and refresh case management
Document collection and verification tracking
Risk rating and assessment support
Audit trail and compliance reporting

KYC can be tailored to your institution's risk appetite, regulatory requirements, and integration with third-party screening and monitoring tools.

Documentation: ServiceNow Financial Services Know Your Customer

Download from Store: Financial Services Know Your Customer

Credit Operations: Credit Operations provides standardized workflows for managing credit-related operational work including credit decisioning support, credit limit management, and credit servicing tasks.

Key capabilities include:

Credit application processing and decisioning workflows
Credit limit review and adjustment requests
Document collection and verification for credit decisions
Exception handling and operational tracking
Integration with credit bureaus and decisioning systems

Credit Operations can be configured to support your institution's credit policies, approval hierarchies, and specific lending products across consumer and commercial portfolios.

Documentation: ServiceNow Financial Services Credit Operations

Download from Store: Financial Services Credit Operations

Built to Configure and Extend

Each of these applications is designed to be configurable and extensible:

Tailor forms, fields, workflows, and automation to match your business rules
Add integrations with core banking systems, fraud monitoring, and external services
Build new applications leveraging FSO data models and patterns

These OOTB applications serve as foundational accelerators—offering industry best-practice workflows you can customize to support your unique operations.

Additional Resources

Explore these helpful resources to deepen your understanding and support your FSO implementation:

Product Documentation: ServiceNow Financial Services Operations Documentation
Implementation Guidance: ServiceNow Best Practices