San Diego Release for Banking: Sync account activity across internal departments to deliver trusted, convenient experiences

[LaurenSpruiell]

Digital transformation is foundationally changing banking experiences, and banks succeed by positioning client needs at the center of their operational design. 

In the San Diego release, Financial Services Operations (FSO) for banking is completing its solution set for the major revenue centers of a bank, making it even easier to connect the front, middle and back offices by eliminating data silos. 

The challenge banks are facing: 

Banks often have disparate and outdated views of client data across departments, resulting in reactive and inefficient client servicing. When siloed systems do not connect, client experiences suffer. 

What is new in San Diego release? 

In the San Diego release, the new Deposit Operations application, Client Lifecycle Management, and Core Capability updates help banks sync account activity across departments.  

1. San Diego New Application Release: Deposits Operations 

The Challenge 

Most relationship managers and deposit operations specialists spend too much time on the administrative work associated with account requests, often at the expense of delivering personalized services to their clients. 

The Solution  

In the San Diego release, our new Deposit Operations application helps teams complete work faster by automating and optimizing the most common checking, savings, and certificate of deposit account requests. Everyone can verify and review requests without manually routing work across departments.  

• Complete work fast by streamlining and automating the most common deposit account requests 
• Continually improve performance by optimizing analytics  
• Build client trust by delivering consistent onboarding experiences 
• This application can also feed into Process Optimization to analyze and identify operational bottlenecks, so business performance is continuously improved 
  
  
  Deposit Operations 

The business outcome: 

Banks can create transparent, repeatable account processes that continuously save time and cost. 

2. San Diego Application Update: Client Lifecycle Operations 

The Challenge: 

It can take weeks or months to close a bank account after a notice of death. The process is complex, requiring several requests for additional information from the parties involved. This strains the banking relationship at a time when the deceased’s executor or beneficiary may be contemplating whether to continue a relationship with the bank. 

The Solution: 

With the Client Lifecycle Management application, departments across the enterprise can reference account maintenance documents and trust that they are routed for validation, including clients’ third-party KYC (Know Your Customer) service providers. 

• Manage account updates, including notice of death processes, in a timely, consistent manner  
• Maintain visibility for all due diligence activities centrally, including “know your customer" key standards 
• Assist with regulatory or policy compliance by embedding controls into client lifecycle workflows 
  
  
  Client Lifecycle Operations

The business outcome: 

Banking professionals can now seamlessly manage account updates throughout the relationship lifecycle, in a compliant manner. By sharing a single record of client documentation across departments, banks can reduce the time spent collecting information that already exists within their systems.  

3. San Diego Core Capability Enhancements 

We understand the risks and frustrations associated with acting on client and account requests with unsynchronized information. The new Financial Services Customer Central capabilities and Relationship Manager Workspace help banks maintain the same visibility of all client information, so they can provide expert service every time. 

• Improve employee productivity with role-based, real-time views of client information through Customer Central and Relationship Manager Workspace 
• Initiate client account requests quickly and easily from the workspace with Dynamic Service Selector 
• Securely integrate core systems with out-of-the-box Remote Tables  
  
  
  Financial Services Operations 
  

With Financial Services Operations, your bank can deliver frictionless banking experiences every time. Talk to our Banking practice leaders to learn more about these new features, and be sure to view the San Diego release broadcast!  

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Join us for the The Now Platform San Diego event.

Mark your calendar for the Now Platform San Diego release broadcast  

Join us for the San Diego release broadcast —a global digital experience where we’ll be unveiling exciting, new innovations in the San Diego release across different markets.  

The broadcast digital event is April 6 and is part of the Knowledge Digital Experience. Your registration for this broadcast provides free access to all that the Digital Experience has to offer, including 200+ sessions beginning in May.

Make sure to watch the San Diego release introduction session with Dave Wright, chief innovation officer, as well as 21 sessions on demand, where we’ll highlight different ServiceNow^® products, innovations, demos, and the Now Platform. The times of the broadcasts are:

• AMS: April 6 at 9:00 am PT/12:00 pm ET,
• EMEA: 7 April at 8:00 am GMT/9:00 am CET
• APJ: 7 April at 9:00 am SGT /11:00 am AEST

Register now

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