Advizex Transforms ITSM for a Major Financial Institution
For almost two centuries, this financial institution has emphasized building relationships, propelling it from a humble single-branch operation into one of the top 50 largest financial organizations in the United States. With nearly 250 branches and approximately 3000 employees, the business a wide range of financial products and services across the Mid-Atlantic and Southeast regions. Notably, in 2023, a prominent publication ranked the institution as the #1 “Most Trustworthy Company in America” in the banking category, underscoring the importance of trust and strong partnerships in their values, such as their collaboration with Advizex.
“We had the opportunity to collaborate by offering them a solution to modernize a segment of their IT infrastructure,” says Mika Munoz, Account Executive at Advizex Technologies. “From this initial engagement, a robust relationship developed, allowing for collaborative efforts across various IT initiatives that culminated in the digital transformation of their IT service management (ITSM) capabilities using our ITSM Advisory and ServiceNow implementation services.”
The success of their ITSM transformation paved the way for Advizex to assist in the digital transformation of the bank’s business processes. “We are currently working in close collaboration to further enhance the IT and business services offered by the organization,” Munoz adds. “They have been an exceptional customer, and I am proud of our team’s efforts in earning their trust and cultivating a solid relationship.”
Evolving into a Trusted Advisor
As the company expanded, it incorporated new processes from other financial institutions. Two years ago, they sought Advizex’s assistance not only for IT support but also to support processes across various teams, including deposit operations, ATM operations, risk management, audits, and more. Advizex was chosen due to the credibility and trust established over years of collaboration with the IT team, as well as its proven expertise.
The Advizex team recommended and implemented ServiceNow initially for IT Service Management (ITSM), where it is recognized as a leader, and subsequently extended its use into financial services operations management as the technology demonstrated its ability to streamline processes.
Streamlining Processes and Enhancing Efficiency
Before the ServiceNow deployment, the financial institution relied heavily on physical paperwork in its processes despite having well-structured and documented procedures. For example, a customer’s request for a loan account change involved numerous manual steps. Several similar processes required significant manual intervention, prompting the bank to seek ways to streamline operations and enhance customer experiences.
Through its partnership with ServiceNow and Advizex, the organization successfully digitized numerous critical use cases and operational processes across various units. Advizex took an advisory role in documenting the existing state and collaborating with departments to design the future state. Subsequent workshops were conducted for data collection and analysis, followed by the design and implementation of the ServiceNow solution.
Staying Ahead in a Competitive Landscape
By streamlining its processes through ServiceNow, the company accelerated its modernization efforts and became more efficient in a fiercely competitive market while staying true to its goal of building strong customer relationships.
One of the most significant benefits has been the reduction in time to resolution. For example, a loan adjustment process that previously took five to seven business days can now be completed in just three or four days, leading to greater customer satisfaction.
“ServiceNow is an incredibly versatile tool with vast potential,” says Michael Gonsiska, Engagement Manager at Advizex. The team, in conjunction with the IT services, continuously evaluates existing processes, seeking opportunities to transition to electronic methods and reduce manual procedures.
Success in one unit’s transformation has sparked interest in modernizing processes across other units, leading to a growing digitalization, integration, and automation of activities by Advizex using ServiceNow. With each implementation, a deeper understanding of the capabilities of the ServiceNow platform drives increased operational efficiencies and improved customer experiences with more innovations on the horizon.