ServiceNow Invests $40 Mn in BUSINESSNEXT to Accelerate Autonomous Banking

ServiceNow has invested $40 million in Indian banking software company BUSINESSNEXT as part of its Series C funding round, valuing the company at $700 million. 

The companies said the investment will be used to expand autonomous banking capabilities and private AI deployments for banks and financial institutions.

The partnership combines BUSINESSNEXT’s banking-focused customer relationship management (CRM), lending, and AI capabilities with ServiceNow’s Financial Services Operations (FSO) platform, which manages middle and back-office workflows such as case management, complaints handling and AI-driven operations.

The companies said the joint offering is intended to create a unified operating platform for financial services institutions by connecting customer-facing operations with enterprise workflows. The collaboration will initially focus on accelerating adoption across the Asia-Pacific region.

“Autonomous banking is not a vision we are chasing—it is a category we have been building for years,” said Nishant Singh, CEO of BUSINESSNEXT. “Today, as AI has matured, this investment will further accelerate our efforts to deliver private AI solutions, meeting the unique needs of banking and financial services, helping ensure the highest level of security while meeting all regulatory governance frameworks and sovereignty aspects.”

Kulmeet Bawa, Group Vice President and Managing Director for India and SAARC at ServiceNow, said India’s financial services sector is moving from digital transformation to AI-led operations.

“ServiceNow’s investment in BUSINESSNEXT is a direct bet on that transformation, bringing together deep banking intelligence and enterprise-grade AI orchestration to help Indian banks and insurers move faster, serve customers better, and operate with far greater efficiency,” Bawa said.

According to the companies, BUSINESSNEXT manages customer acquisition, engagement and real-time customer intelligence, while ServiceNow’s FSO platform orchestrates operational workflows across the middle and back office. 

The integration will also incorporate ServiceNow’s AI Control Tower to coordinate AI workflows across financial services organisations.

Singh said the partnership connects customer intelligence with enterprise execution in real time.

“With deep banking intelligence and AI-led customer engagement capabilities, financial institutions can now operate with greater speed, intelligence, and coordination across all customer and operational touchpoints,” he said.

BUSINESSNEXT said its platform is deployed across more than 75,000 branches and serves over one billion end customers globally through banks and financial institutions. The company said it supports more than one million users across customer engagement, lending and financial services operations.