ServiceNow for BFSI (Banking) – How LMTEQ Improved Banking Workflow Management for BFSI Client
<1.6 days
Avg. Resolution Time
300+ to <50
Monthly Backlog reduced from
87% from 61%
CSAT score
An Overview
For a leading BFSI organization in India, managing more than 1,200 internal financial operations requests each month had become overwhelming. Using a patchwork of spreadsheets and email chains, teams often missed critical deadlines, lacked visibility into ownership, and faced unnecessary regulatory pressure.
With LMTEQ’s strategic ServiceNow implementation for BFSI, the firm transformed its core financial workflows using CSM Pro and App Engine. AI-driven request management, role-based dashboards, and inbound email routing streamlined every interaction, resulting in faster resolution, better compliance, and more empowered teams.
“We didn’t want just another ticketing tool. We needed a real ServiceNow for BFSI solution that adapts to our financial ecosystem,” said the VP – Financial Strategy.
About the Client
The client is a well-established Indian player in the banking and financial services (BFSI) sector, supporting a broad mix of retail banking, corporate lending, and investment services.
Their Financial Operations (FinOps) team plays a central role in :-
Group-level financial planning (annually and long-term)
Stress testing and capital adequacy analysis
Liquidity and risk management
Regulatory reporting and data governance
Vendor and stakeholder interaction across compliance cycles
The Challenges
Despite the organization’s size and maturity, its internal workflows remained largely manual. Every month, over 1,200 requests ranging from report generation and budgeting clarifications to financial model changes and compliance queries were handled via spreadsheets, informal trackers, and lengthy email threads.
The key pain points included :-
- Lack of ownership and accountability for request resolution
- Delays in the Group Planning Exercise, often stretching past deadlines
- No centralized platform for tracking internal SLAs
- Inefficient collaboration between risk, compliance, and finance teams
- Inability to track vendor and regulator communication contextually
“We were spending more time tracking tasks than actually performing them,” noted the Head of Planning.
The annual Group Planning Exercise, which involved 15+ teams, was run for nearly 25 days. With version mismatches, missed handoffs, and a lack of unified approval structure, financial data integrity became a significant risk, especially during audits.
The Solution
Our team stepped in with a tailored strategy focused on delivering ServiceNow for BFSI, a specific banking solution rooted in process standardization, automation, and control.
Key solution highlights :-
Unified Self-Service Portal
Employees across functions could now raise and monitor requests through a structured portal with dynamic forms and category mapping.
Custom Workflows via App Engine
Inbound Email Parsing & Auto-Routing
Requests via email were parsed, categorized using AI, and routed to the right teams automatically. This significantly cut the manual triaging effort.
Role-Based Dashboards
Live dashboards offered real-time visibility into request queues, bottlenecks, overdue items, and resolution KPIs, a major shift from retrospective reporting.
Audit-Ready Logs & Notifications
Every request and interaction was logged with complete visibility and time stamps, offering full traceability for audits and regulatory reviews.
AI-Powered Assistance
Common queries around workflows and document submissions were answered in real-time via embedded knowledge base recommendations.
“This ServiceNow implementation for banking helped us streamline decision-making during regulatory cycles. We can now confidently face auditors with a single source of truth,” shared the firm’s Risk & Compliance Head.
Business Outcomes
| Metric | Before | After |
|---|---|---|
| Monthly Backlog | 300+ requests | Less than 50 |
| Avg. Resolution Time | 4.8 days | 1.6 days |
| Manual Email Handling | 90% | Reduced to 18% |
| Group Planning Duration | 22–25 days | Completed in 12 days |
| Reporting Errors | Frequent version mismatches | 70% reduction |
| Self-Service Portal Adoption | N/A | 89% within 3 months |
| CSAT (Internal Rating) | 61% | 87% |
“Thanks to LMTEQ and ServiceNow for BFSI workflows, we completed our most recent capital adequacy report with very minimal delays — a first in years,” said the CFO.
What Made the Project a Success?
Success drivers :-
Deep BFSI Process Understanding
Our team knew the nuances of stress testing, internal SLAs, and RBI reporting needs.
Agile Configuration via App Engine
Enabled rapid prototyping, approval routing, and process customization.
People-Centric Rollout
The change was introduced via low-friction onboarding, knowledge articles, and SME-led demos.
Let’s Simplify Your Banking Workflows With ServiceNow
Still managing workflows through spreadsheets and emails? Looking to optimize stress testing, planning, and reporting cycles? Our team delivers ServiceNow for BFSI with industry-best practices, fast implementation timelines, and a people-first approach.
As an AI-powered transformation partner, we help businesses unlock potential with ServiceNow to achieve faster, high-quality outcomes.