Financial Services Loan Operations

Financial Services Loan Operations contains preconfigured dashboards with actionable data visualizations that can help your organization improve your business processes and quantify the value of self-service.

Review the components that are installed with the Financial Services Loan Operations application and modify as needed for your organization's business needs.

Learn how bank agents, using the Covenant Breach workflow, proactively contact a loan customer for a covenant breach and decide on an action plan for the future. The workflow applies to both business and personal loans.

Create a credit service case to handle a covenant breach or restructuring of a loan.

You can use ServiceNow Financial Services Loan Operations to manage servicing for all types of loans.

Domain separation is unsupported for the Financial Services Loan Operations application. Domain separation enables you to separate data, processes, and administrative tasks into logical groupings called domains. You can control several aspects of this separation, including which users can see and access data.

You can install the Financial Services Business Loan Operations application (sn_bom_loan_b2b) if you have the admin role. The application includes demo data and install-related ServiceNow Store applications and plugins if they are not already installed.

You can install the Financial Services Personal Loan Operations application (sn_bom_loan) if you have the admin role. The application includes demo data and install-related ServiceNow Store applications and plugins if they are not already installed.

You can set up your implementation for the Financial Services Loan Operations first by installing each of the Financial Services Business Loan Operations and the Financial Services Personal Loan Operations applications.

Several types of components are installed with the installation of the Financial Services Business Loan Operations application, including tables and user roles. The application also installs related plugins and store applications if they aren’t already installed.

Several types of components are installed with the installation of the Financial Services Personal Loan Operations application, including tables and user roles. The application also installs related plugins and store applications if they are not already installed.

Learn how bank agents, using the Loan Deferment workflow, resolve a loan service request for a temporary postponement of a scheduled loan repayment. The workflow applies to both business and personal loan service requests.

Learn how bank agents, using the Loan Drawdown workflow, resolve a loan service request for disbursement of the drawdown amount from a line of credit that has been pre-approved. The workflow applies to business loans only.

Learn how bank agents, using the Loan Forgiveness workflow, resolve a loan service request for a waiver or forgiveness of an outstanding loan with the bank. The workflow applies to both business and personal loan service requests.

Learn about the components, such as the roles, tables, plugins, and store applications, that are installed when you install the Financial Services Business Loan Operations application and the Financial Services Personal Loan Operations application.

The Financial Services Loan Operations application installs automated workflows for loan servicing. These workflows enable routing of cases and tasks to different departments, including the loan, document, and credit agents.

The ServiceNow 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.

Learn how bank agents, using the Loan Restructure Proposal workflow, contact a loan customer for restructuring an outstanding loan which otherwise could turn into a non-performing loan. The workflow applies to both business and personal loans.

Learn how bank agents, using the Loan Rollover workflow, resolve a loan service request for renewal or rollover of an outstanding loan. The workflow applies to business loans only.

Learn how bank agents, using the Loan Write off workflow, handle writing off a portion or full amount of an outstanding loan when the recovery mechanisms fail. The workflow applies to both business and personal loans.

Learn how bank agents, using the Missed Installment Repayment workflow, proactively contact a loan customer for a missed installment of an outstanding loan and decide on an action plan. The workflow applies to both business and personal loans.

Learn how bank agents, using the Partial Prepayment loan workflow, resolve a service request for a partial prepayment of an outstanding loan with the bank before its maturity. The workflow applies to both business and personal loan service requests.

Bank workers can begin the loan workflow by submitting a loan service request received from customers (consumer or business contact). Customers (consumer or contact) can also directly submit a request from service catalog.

Collect all required information and documents from the customer and submit the loan service request to back-office agents for fulfilment.

Help your customers by submitting a loan service request for them. As a requester in the front office, you can do this service for your customer (consumer or business contact).

Learn how requesters, contributors, and agents use the Financial Services Loan Operations application to initiate, research, and resolve the loan service requests and system-generated exceptions.

Work on a credit task to review or authorize the credit for a loan customer. You can approve or reject the request based on your findings. A credit task is also used to update the covenant when you are working on a covenant breach.

Work on a document task to manage and track documents (inbound and outbound) that are needed for a loan service case.

Review a loan case on a loan service request and update its details to trigger its workflow.

Work on a loan task to review and authorize a loan service request, update a loan account, or to disburse a loan when a loan service request is fulfilled.