Finance of America transforms processes with ServiceNow

Finance of America sought to improve the user experience, so it transformed operations with the Now Platform—automating manual processes, and building agent and broker apps.

Helping people realize their financial dreams

Headquartered in Pennsylvania, Finance of America offers a diverse portfolio of home loans and mortgage solutions to help hundreds of thousands of customers achieve their financial dreams.

In recent years, the company has undergone approximately 15 acquisitions and currently has around 6,000 employees.

Simplifying complex processes

The company first implemented ServiceNow IT Service Management (ITSM) in 2016, but to encourage users to use the platform instead of reverting to email, it needed to rethink the user experience. “To raise a ticket, we ended up with categories and subcategories, and when that wasn’t robust enough we added an ‘ad hoc’ bucket for everything else,” reveals Meghan Sander, Technical Business Analyst at Finance of America. This approach meant there was no way of tracking tickets, no visibility over progress, and no way of telling if an email had even been received.

Taking a platform approach with ServiceNow

To break down silos across functions, Finance of America decided to take a platform approach to ServiceNow. Meghan headed up a team dedicated to supporting shared services and reducing time-consuming manual processes across the organization. Today, the team uses ServiceNow IT Business Management to handle project, portfolio, and resource management across the entire technology landscape. As new services flow into ServiceNow IT Operations Management, event management helps to reduce repair issues by filtering out thousands of noise events as the team delivers a world-class customer experience with ServiceNow IT Service Management across both incidents and requests.

Transforming the user experience

With ServiceNow, users can connect to the service desk via the support portal, mobile app, or agent chat to get issues resolved quickly and easily. The volume of emails has reduced by 9.7%, first time resolution is up to 82%, and MTTR is 50% faster than the industry average.

Onboarding has also been streamlined for hundreds of new starters every month, and smarter processes across the organization have improved efficiency.

Bringing dreams to life

Finance of America’s dream team worked with users from different departments to encourage adoption and understand their wants and needs. “I’ve been working with ServiceNow for ten years. I knew that with the right people and the right processes we could transform the platform to help us take our business to the next level,” concludes Meghan.

Download PDF