[Music] my name's keith pearson i'm the head of financial services go to market for servicenow my background is in financial services i joined servicenow only six months ago coming from a role where i was the head of technology resilience and a program director at lloyd's banking group in the uk so this year we've seen um an awful lot of change in the financial services industry you know many many things that i've disrupted that we didn't see coming and a lot of the focus areas that were traditionally always in place so they need to reduce cost they need to increase output and agility the need to connect the customer and if you like employee experience to join things together and be more integrated and less fragmented in the way that we serve our customers and the need to be able to manage risk and resilience particularly in the uk and ireland operational resilience um as a regulatory outcome um all were already important but i feel that with covert and what's happened this year and the fact that we've had a very real unforeseen but significant event that's impacted financial services the need to focus on these things has almost become even more pointed at servicenow we see a problem really in digital transformation and financial services so some mckinsey research that was done last year suggested that 90 of financial services digital transformations faced problems and the 25 failed completely and if you think about your organization and how much money that involves and how much effort that involves that's lost in unsuccessful transformation we really need to start to think about what the problems are and what are the causes of that level of failure so people talk about culture and not having the right skill set for digital transformation but for me really it's it's all about technology at the heart of it you know we're making acquisitions of tooling and technology that create silos and fragments of data we've got no single view of risk and control we've got no single integrated insight when we're running our businesses and it's very very difficult with such a complex in many cases legacy estate to bring all of those technologies together in one integrated and seamless kind of organism if you like and the picture of roger here really just refers to the needs in a financial services organization to bring all the things that you do as an organization together to operate to the best of your ability and to perform the way that your organization wants to be able to perform in order to do that everything has to be seamless and everything has to be connected and what we see is that a lot of the the leading digital banks even the large legacy ones are taking a view that deals with that fragmentation deals with all of those different silos in a very thoughtful and structured way microservices and apis as an architectural framework rather than monolithic traditional architecture is certainly coming to the fore cloud first gives scalability it gives the opportunity to move away from infrastructure that's not resilient and it gives the flexibility and pace that financial services organizations are looking for but at the same time it introduces regulatory concerns around control and security and customer data and so on so that needs to be dealt with in an appropriate way and finally rather than have thousands of applications under management that require hundreds of developers hundreds of engineers many many supplier relationships potentially thousands to be managed uh and and many connections of disconnected things that need to be brought together um we've seen these banks move towards a more platform platform-based um structure for the future of digital transformation so that rather than um you know 4000 applications under management the future may be less than 50 interconnected cloud platforms um that are very very much more integrated than the technology is today and at servicenow we see that our role to play in getting helping our customers get to that outcome is really to act as a platform for orchestration for financial services we don't feel that um all of that investment that you've made in strategic technologies needs to be thrown away to digitally transform the organization and servicenow has extremely powerful integration data management workflow and automation and insight and analytics capabilities all built on one platform that allow you to connect to the technologies quickly that you want to maintain to remove the technologies and replace them with service now that you want to if you like take out and to really clean up all of that fragmentation all those end users are compute solutions and shadow i.t and manual processes that still plague our environments um servicenow is the ability to to bring those all together and act as that orchestration layer that joins up parts of your organization but also joins up from a front to back perspective the experience that you deliver to your customers a good example is some work that we've done recently with one of the largest uk banks universal banks so retail business commercial business insurance and wealth business and so on and we were working with that bank on a payments transformation operations payment operations transformation and one of the big challenges that they had was that all of that fragmentation all of those disconnected uh tools and so on were plaguing the ability to deliver what was called the payments and error process and payments and error is when i try to make a 50 pound transfer to you and the money somehow goes missing it doesn't reach your account it's out of my account we both phone up our banks or we both walk into our branches and we try and find the 50 pounds and the error process is the process that then is initiated once we've identified that our 50 pounds has gone missing and in that situation banks have to bring together a whole range of different people systems and processes to investigate where that's happening and it can take a long time and it can take a while for you to get the money back and in some cases the money has to be written off so from the bank's perspective it's not a great customer experience they are having often to write off losses when they can't find can't find that money and overall from a compliance perspective you know it doesn't feel good so the work we did with that bank was to use servicenow to replace all of those fragments and what we did was we introduced servicenow we connected it to the core banking systems and then it becomes one seamless and very highly automated process so as a customer you come into the branch you've still lost your 50 pounds but the ability to use service now to interrogate the core systems in the bank bring that into a workflow layer so that people within the bank can do that work on your behalf to very quickly get to the recovery of the funds is just one of the major benefits that come if you like from from being able to clean all of that fragmentation up and if you look at the benefits they really are phenomenal you know we're looking at a high number of manual steps removed a significant number of spreadsheets and emails and all that shadow id taken out the cost per payment and error request going down significantly and and the time to actually solve the customer problem coming down as well so benefits across a whole range of different scenarios as a result of the replacement of one process and you might think that this sort of thing takes a long time this particular piece of work took us 12 weeks at that particular bank so from the point where we started the project and started to build those integrations to those core systems to the point where we delivered a go live was a 12-week process so with servicenow really the the time scales the cost the agility of digital transformation is really changing from what banks and other financial services organizations have traditionally felt would be the norm and what i hear a lot when i when i kind of speak to our customers and i'm speaking to our financial services customers across the world servicenow works with almost a thousand banks and financial services organizations across the world we have 19 of the world's top 25 banks as our customers is that we know servicenow servicenow is an i.t ticketing tool and many many people for many many organizations service now just that that was where it came from you know we are in a period of what we would call hyper growth at the moment and and that's where servicenow has its origins is in it service management the most important word in there is service so at the heart of the servicenow platform is a services architecture that allows you to then build data workflow integration and analytics around any service it just so happens that we started off delivering it service activity so in many many cases we've we've moved from that i.t ticketing to origin and many many years ago to become a platform for it operations and for some of our customers we're a platform for it operations but for many of our customers actually we've become the platform for enterprise technology management the ability to take all those fragmentation problems that i talked about earlier in it and and really start to connect them up so that the control you have over your technology environment as you deliver new change as you move to devops and and as you as you try to make safe and secure change as you migrate to the cloud and it's all managed in one end to end platform for orchestration and as i said earlier that doesn't mean you have to throw away the investments you've already made in other tools you integrate them with service now you use servicenow as that orchestration layer across 19. but in doing all of that work over the last 10 years for it departments what we have in many ways inadvertently created is a enterprise technology platform that has the ability to allow technologists and digital transformation functions to meet the needs of the business with powerful integration data workflow and analytics capabilities all baked into one single low code cloud enabled cloud enterprise platform as what that means is that in the case of the bank that i was just talking about and many of our other customers at the moment we're starting to see servicenow become a platform for workflow transformation helping business leaders to drive a new operational reality to deliver better outcomes for customers and better business efficiency and productivity i used to save when i was in the bank and i was leading the work that we were doing on servicenow at the bank um you know you don't have to compromise with servicenow you can deliver outcomes that improve the colleague experience and the customer experience and reduce cost and improve control all in one delivery that that's fairly unique in enterprise technology that you wouldn't have to make compromises when you're delivering solutions so it's a platform for workflow transformation for your line of business leaders for your chief risk officer for your heads of digital transformation but we go further and for your chief operating officer and your chief financial officer servicenow can become a platform for banking performance um allowing you to impact the cost to income ratio and improve your customer outcomes at the same time and that might be headcount reductions that you're already planning to make one of the biggest challenges that we see in financial services is when headcount reductions are made and the work doesn't go away the same demand is still there people the people who are remain need to do more work on the same amount of work with less people and that's not what digital transformation is about you know and business cases and benefits cases you know really need to stop doing that we need to make sure that we make the improvement if we really are having to reduce the head count that we have in an organization and servicenow certainly in my experience of delivering it and the customers who have used it successfully is very much able to do that and finally again you know we we feel that this is where service now is going is all of those things including an it ticketing tool but actually a platform for enterprise service transformation that will drive drive the banking and financial services revolution allowing your organization to outperform out evolve out disrupt and out engage your competitors so that you achieve that competitive advantage through digital transformation and you deliver the outcomes that you're looking to deliver to your customers successfully so thanks very much for joining me um it's been great to have the opportunity to talk to you about servicenow where we're going if you're interested in finding out more you can get in touch with me directly keith.pearson servicenow.com or you can get in touch with your account director who will be able to point you in the right in the right direction thanks very much [Music] goodbye