To increase autonomous banking in APAC, US software company ServiceNow invests $40 M in India’s BUSINESSNEXT
To speed up the adoption of AI-driven banking operations throughout Asia-Pacific, the US-based business software giant ServiceNow (NYSE: NOW) will invest $40 million in India’s BUSINESSNEXT, a banking and financial services software platform.
According to a statement released on Thursday, BUSINESSNEXT will oversee customer-facing acquisition, engagement, and real-time customer signals as part of the partnership. The Financial Services Operations platform from ServiceNow will manage back-office and middle-office tasks like AI-driven workflows, case management, and complaint resolution. For financial services companies, ServiceNow’s AI Control Tower may link the two systems into a single operating layer.
According to BUSINESSNEXT CEO and co-founder Nishant Singh, the funding would quicken the company’s efforts to provide private AI solutions. It aims to meet the unique requirements of banking and financial services, facilitate faster operations, and improve coordination between client and operational tasks.
Financial services companies in Asia-Pacific may benefit from AI-driven transformation due to BUSINESSNEXT’s experience working with Indian banks and insurers and ServiceNow’s operational AI capabilities, according to Adrian Johnston, President for Asia-Pacific at ServiceNow. The CEO continued, the investment reflects ServiceNow’s focus on providing industry-specific solutions rather than generic platforms.
For banks and other financial organizations, BUSINESSNEXT offers AI-driven workflow solutions, digital lending, and customer relationship management. Over one million users, over 75,000 branches, and over one billion end users worldwide are served by the platform.
