The Vancouver release includes several exciting developments to Financial Services Operations for Banking, including an enhancement to an existing application to reduce dispute-resolution cycle times, and a new strategic integration to make faster, well-informed decisions with real-time credit checks.
Reduce dispute-resolution cycle times
Card Operations: Dispute Management:
Card Operations: Dispute Management, which initially launched in the Tokyo release, is an application dedicated to digitizing card dispute management end-to-end and reducing manual-work related inefficiencies, mistakes, and costs. Enhancements to this application as part of the Vancouver release include an out-of-the-box manager dashboard, workflow enhancements, and pre-populated email templates crafted for every step of the dispute journey. Some of the impactful benefits banks will see with these improvements to Card Operations: Dispute Managements include:
- Research and resolve disputes effectively with insightful data by leveraging an intuitive, out-of-the-box dashboard purposely built for dispute managers.
- Equip managers with awareness into important facets of the business, such as how disputes are being handled across their team, details on SLAs to help remain compliant with various card network timelines, and access to dashboards within Performance Analytics and Process Mining.
- Initiate additional approvals when needed with ease to ensure disputes are managed in compliant and careful fashion.
- Provide customers with transparent status visibility and employees with efficiency through pre-populated email templates for each step of the dispute journey. These informative, pre-populated emails exist for (1) Dispute submissions, letting the customer know the dispute was received, (2) Letting a customer know if the dispute was automatically denied based upon the pre-defined rules of the ServiceNow rules engine, (3) If an immediate final credit is being issued, (4) If a provisional credit is being issued, (5) If a provisional credit is being converted to a final credit.
Make faster, well-informed decisions with real-time credit checks
Equifax Integration:
Financial Services Operations for Banking now offers an integration with Equifax, a top three credit bureau company in the United States and internationally with business offerings in the areas of credit risk, verification, fraud, and workforce management.
This new integration with Equifax OneView, an industry leading cloud-based solution that provides a comprehensive view of a customer’s financial profile to help determine credit worthiness for the purpose of making lending decisions, will benefit financial organizations in numerous ways, including:
- Obtain a holistic, concise, and customizable view of applicant financial profiles to make well-informed lending decisions based on risk appetite. View an applicant’s full credit report in format of choice… data format or PDF format.
- Improve efficiency through business rule based automated decisioning. Minimize the need to pivot between systems.
- Enable real-time servicing by seamlessly syncing data across Equifax and Financial Services Operations.
- Reduce development effort and increase speed to market with pre-built integration.
Learn more:
In addition to these key enhancements, banking customers also benefit from additional new and impactful features including Service Model Foundation: Available Services, Service Model Foundation: Customers Served, ServiceNow Voice Agent and Queue Transfer, and our Generative AI driven Now Assist. To learn more about these features, check out the Customer Service Management blog.
For more information on Financial Services Operations for Banking, visit the product page.
