AP2K
ServiceNow Employee
ServiceNow Employee

 

Overview:

 

Financial Services Loan Operations application is a solution in Financial Services Operations that supports personal and business loans. This solution enables your financial organization to quickly resolve customer-initiated requests and system-generated exceptions around loan servicing and can help you transform your middle and back-office loan operations.

 

Common Challenges in Loan Processing:

 

Too many handoffs and rework may slow down the path to loan closure. Below pain points leads to delaying fulfillment, 

 

1. Re-entering the same information into different systems,

2. Shaping information into different document formats

3. Information needs to be translated to complete the next steps by the back office

 

What's in the offer?

 

FSO Loan Operations management has better integration and workflows to reduce the number of siloed systems and manual data entry, gaining efficiencies for loan approvals, delivery and servicing.

 

Features offered

 

  • Automated workflows to route cases and tasks across different departments and functions, including the loan, document, and credit departments
  • Support for business and personal loan operations on a single platform
  • Support for customer-initiated requests and system-initiated exceptions
  • Document processor service covering inbound and outbound documents and handling exceptions and approvals
  • Personalized workspace for different roles
  • Performance Analytics dashboards for insights into the team's and business performance
  • Now Assist skill kit and AI Summarization
  • AI Agent can be promoted for all reporting data

These features are embedded within the Loan Operations Applications - Personal Loan and Business Loan Operations and offers the flows for the below request types

 

 

Useful References:

 

  1. Loan Ops implementation insights
  2. Components installed with Business Loan Operations
  3. Components installed with Personal Loan Operations