ServiceNow, Inc. (NOW) Earnings Call Transcript & Summary

Hello, everyone, and welcome to today's webinar. We're going to dig into all of the innovation that recently came out in our Washington, D.C. release. for financial services, especially our new partnership with Visa and the ServiceNow Disputes Management Built with Visa offering. And to help us fully bring this offering to life, we are joined not only by ServiceNow as Head of Product for financial services, but also a fantastic guest speaker from Visa, who will introduce in just a moment. My name is Tom Ormandy and I'm the member of the Product and Solutions Marketing team for financial services industry here at ServiceNow, and I am very happy to be your host. So let's get into it. This is our obligatory notice for forward-looking statements, and we appreciate you with adhering to this regarding the content you're about to see today. Now I want to introduce our main speakers, Tammi Shapiro of ServiceNow and Liz Chaffin of Visa, hello Tammi and Liz. So Tammi, starting with you, can you just give us a little bit about who you are and your role at ServiceNow?

Sure, Tom. Thanks, and thanks, everyone, for joining. My name is Tammi Shapiro, and I'm responsible for product for financial services here at ServiceNow. I've been at ServiceNow almost 4 years and in financial technology coming up on 20 years. And what our team is really focused on here at ServiceNow is building capabilities on our platform to really surface more value for our customers and financial services and make implementations easier. Ultimately, as you'll see during the conversation today, what our focus has really been on is how do we enable financial institutions to optimize use of our platform, primarily in customer service use cases.

Thank you, Tammi. And Liz, would you like to introduce yourself and just tell us a little bit about your role at Visa?

Sure. Liz Chaffin, I'm part of Visa's global product organization. And my focus is on what we term as Post-Purchase products, which includes dispute processing, and we're always working towards providing a healthy and balanced ecosystem through innovation and to make the process more effective and seamless for all of our customers.

Thank you, both. So we have a great group today. Lots of information and knowledge to share. So we're going to dive right into the content. Here's a quick overview of the agenda. So we're going to provide a quick look at Financial Services Operations and then dive into everything that Tammi and our product team built for banking in the Washington release. We'll also hear from Liz for more about Visa and our work with them and then share some best steps for how to take advantage of the information that you learned from attending today's webinar. So like they said in the intro video, feel free to drop questions in a chat throughout, we will try and leave about 5 to 8 minutes towards the end for Q&A. But any questions we don't get to, we will follow up with each and every one of you post webinar. So to kick things off, like I said, we thought it would be helpful to just give a brief summary of what is financial services operations and who is ServiceNow for banking. So with that, Tammi, I'm going to pass it over to you.

Thanks, Tom. So our objective with Financial Services Operations is really to connect a customer journey end-to-end. This customer journey can be any type of use case. It can be onboarding a new customer. It can be adding a new account for an existing customer, servicing a customer through their journey, right, an address change, a name change, changing the terms on their loan account through to what we call escalations, right, which are more complex investigations, which could be triggered by a complaint or a fraud investigation or a dispute. Ultimately, what our platform does is, on the engagement side, we have engagement channels, whether it's portal experiences, mobile experiences, messaging capabilities, virtual assistance. So as a platform, we can plug into existing digital channels like an online or mobile banking experience or we can extend existing channels or be that channel. We offer experiences for the branch or the contact center right to more of a front office capability. And then really importantly, what we do is we focus on how do we connect all the teams that are involved in resolution, right? So bringing in real-time data, connecting teams in real time so that work can get done most effectively. As we've been in the market and we talk to customers, we often hear about some of the complexity there. We see silo teams, silo systems that results in manual e-mail-based processes. And ultimately, that's really what we're focused on solving for. Once you have that end-to-end digitally connected experience, you can deliver better customer experiences higher productivity, happier employees and you have end-to-end oversight over a process, right? Because you can really get visibility across the end-to-end journey, which helps with oversight and compliance. The last thing I would highlight is Now Assist, which is ServiceNow's Gen AI capability. This is an area that we'll touch on in today's webinar, but it's been an area that we've been very focused on as a company. From analysis perspective and Gen AI perspective, we think about it as a productivity multiplier. If you think about a customer experience, the ability to get Gen AI-generated search results, right, more intuitive responses, that can help with deflection, it can help with customer experience. We also have a gen AI powered virtual assistant, which again can help with those more engaging customer experiences. Similarly, on the agent side, you can think about case summarization, chat summarization, summarizing the context of deep information as well as things like composition, right, composing work notes, composing e-mails that can be sent to customers. So again, a lot of automation that can happen on top of creating this digitally connected experience. And that's really how we're thinking about solving for these end-to-end customer journeys. So if I go a little bit deeper into how we've been thinking about our strategy and product investment, we really think about it at a few levels. Firstly, we do work across the organization to make sure that we're making the right investments for our financial services customers, right? So one example that comes up very frequently is around security, right? Once we were talking about customer data, financial data, making sure we're making the right investments about that certainly becomes critical for financial services customers. On top of our platform, we have built an extensive data model for financial services. The goal of this is really to make sure that we bring in information from external data sources or systems in a structured way. Again, whether it's customer information, account information, transaction information, contact information, all of that, we want to support in a very streamlined and scalable way to support our customers as they implement different customer journeys. We also build integrations to some of those data sources. And then lastly, on top of that, we have built a number of what we consider more end-to-end applications. These applications include things like workflow, user experiences, reporting capabilities, process mining capabilities. So again, we've identified some key domains. And in those areas, we're building more end-to-end applications, again, to deliver more value out of the box for our customers in financial services. And so you can take those applications and then further configure them to fit into your ecosystem and fit into your processes.

Thanks, Tammi. With that overview of Financial Services operations, would you -- when we look at the Washington release for banking, what specific areas did the product team focus on?

Yes. So when we think about our investments, we've thought about it in 3 major categories, right? So there's onboarding new employees, like I mentioned -- sorry, onboarding new customers or onboarding existing customers to new accounts, like I mentioned earlier, they're servicing those customers throughout their journey. And then there's a bucket like I mentioned, called escalations, right, which is more complex investigations that need to be conducted typically by a financial institution. In the past, we've talked about some of the investments we've made there. So we have capabilities around managing complaints. We have capabilities around fraud investigations. We've had in the market capabilities around disputes management. What's new in Washington, and we'll be talking in our Washington release, and we'll talk a lot more about it with Liz as well, is our investment in dispute management. So we've taken some of the capabilities that we have around disputes, we've enhanced the dispute analyst experience. We've added integrations to Visa capabilities. We've added a lot of intelligence around the process. And I'll share more around this, but as we go through today's webinar, we really wanted to highlight some of the investments we've made around this dispute management process.

Perfect. Thank you. And quickly before we get further into that, starting with our partnership and offering with Visa. We have a poll question that we would love if you could all take 30 seconds to participate in and answer. How satisfied are you with your current card dispute management processes? So we know car dispute management processes are a pain point for a lot of organizations, their employees and obviously, their customers. So we'd love to see how you all feel your organization is handling these processes today. Let me just take again just a few seconds to answer. That would be great. And I'd be surprised if everybody was very satisfied. I'm thinking there will be more towards C&D, but we will see. Let's give another 10 seconds. 5 more seconds then we'll see. I see most of you have answered. [Voting]

Okay. Thank you, everybody. So much satisfied more than I thought, but a large kind of split down the middle there between somewhat satisfied and unsatisfied. Yes. So we'll -- again, for those that are unsatisfied and somewhat satisfied, can always be doing better. We're going to get into the content now of exactly how we tackled card dispute processes in Washington, so Tammi?

Great. Thanks, Tom. So before I get into some of the specifics, I did want to elaborate a little bit more on our partnership with Visa. And again, we're very excited to be joined by Liz today, who will also be sharing her perspective around this. Earlier this year, we did announce a strategic partnership. Our initial focus in this partnership is really around disputes management, over time, we plan to work more closely together across a number of different use cases, but this is an area of deep focus for us that we'll talk about today, and we'll continue to talk about in future releases. As of our Washington release, we now have a co-branded offering that we really feel leverage is the best of ServiceNow, right, in terms of our workflow orchestration capabilities as well as Visa's expertise when it comes to the payments value chain. We've enhanced our disputes capability. So I mentioned we had a dispute capability in the market. We've enhanced it with integrations to VROL, which is Visa's disputes management capability. And we've also added a number of Visa value-add services, which we'll be talking about. And these services are really meant to help either deflect disputes by bringing more information forward to a customer or to an agent or improve the handling of a dispute and the chargeback process, should it get to that stage. On top of those integrations, we have built a lot of intelligence in the platform. So how do we intake the right information around the dispute, how do we assign the right reason code and how do we determine eligibility. So all of that, and we'll expand on it as we go through this, the discussion today, but all of that is now embedded in the platform with the goal of really providing a more connected and accelerated disputes processing from front to back, right, from when a dispute is submitted through to the final resolution. So what are some of the pain points that we hear, right, from our customers today? And what are we really trying to solve for? Ultimately, when we talk to customers today, we've heard a lot of challenges just around how disconnected, right? And sometimes disjointed the disputes process can be and what that resulted is inefficiencies. And this ties back to some of the comments I made earlier around teams are working in different areas. They're working across different systems, and that results in some manual processes. So what are some of the specific pain points we've heard. One is there is a lot of swivel chair, right, for example, getting information from one system, whether it's a case management system or a core system and submitting that information manually into a system like VROL. That's one of the pain points. A lot of back and forth with customers, right, forgetting to collect information, needing to provide updates. That provides a lot -- that results in a lot of back and forth with customers. Customers may call in multiple times, right, because this is an extended process sometimes wondering what the status of their dispute is. All of this results in higher cost, right? The cost to handle the dispute goes up as the time goes on. And so then there's a question of when can we intelligently potentially write off disputes upfront. From a development perspective, another pain point that we often hear is around maintaining a dispute management system. So card network rules can change over time. Those get updated often a couple of times a year. Regulations can change, which impact the disputes process and keeping up to date with that from a development perspective, from a system perspective can be challenging. And then lastly, what I would say is just the growth in disputes, right? So you have all these challenges and then we're seeing a growth in digital transactions. We're seeing money move faster. All of this just drives higher pressure for disputes teams right in those that are actually handling the process. And that leads to what we've been focused on, right? So ultimately, our focus has been again, how do we create a more connected experience with our product, right, with ServiceNow dispute management built with Visa. What do we do to solve for this? One is we do connect everyone on a single system. So what we're doing is we're providing connectivity to front office teams to customer engagement channels, to disputes teams and to VROL, right? So you can do all of the work. We often call ourselves a system of action. You can get all of the work done by working directly on ServiceNow. We're also very focused on giving access to the right data to the right person, right? So a dispute analyst probably needs more information around the transaction, around account information, at the same time, we can selectively provide customers with update without sharing too much information, right? You can determine how much information gets shared with the customer. We can leverage our AI capabilities abilities, machine learning capability to really drive more automation, right, how do you decision whether you want to submit a dispute to VROL, that type of information, when do you write off the transaction. Those types of decisions can be made upfront and in a very automated way. And ultimately, because we have end-to-end visibility across the entire disputes process, we can really help with compliance and oversight, right, making sure that disputes are being handled in the right priority. They're being handled on time, they're being handled in compliance with regulations. And if there is an issue, making sure that you adapt and address it quickly. All of this results in more productivity, better compliance and ultimately and really importantly, better customer experiences.

Thank you, Tammi. That was a great overview. With that, I'd like to pass things over to Liz, who is going to share with us some details on Visa products, such as Visa Resolve Online that are super relevant to the ServiceNow Disputes Management, built with Visa offering. So with that, Liz, I will pass it over to you.

Thanks, Tom. So I'm going to start with a little bit about Visa and our role in the ecosystem and dispute processing. So Visa is a global payment technology company. It is one of the largest electronic payment networks in the world. We successfully processed billions of transactions a year. But when things do go wrong, we do have a very powerful tool in disputes. So for that 99.95% of transactions that are processed without issue, we're good, right? But for that very small percentage, we're able to provide a consistent and trusted process to determine ultimately who's going to be liable for the transaction. So as a payment network, Visa plays a crucial role industry processing. And there's 3 components of this. We act as the oversight capacity, providing appropriate rules and governance and then an efficient and effective dispute resolution process. And then we'll also act as the final arbitrator of disputes when necessary. So if the 2 parties can't figure it out, can't resolve it, it will come to us and we'll do the final decision. So the 3 parties that were comprised of is standardized data. So using data collected during transaction processing and during the dispute process to our intuitive questionnaires to ensure we capture all of the required data elements to facilitate a resolution of the dispute. So getting all of that data is key in making sure we're following all the guidelines of the disputes. The Visa dispute rules. This is what governs the process and establishes what their requirements are for determining liability, defining the rules define all of the data and conditions that are required for each dispute condition. And those are what's available for everyone to follow and then, of course, the systems to automate the processes. And then there's Visa Resolve Online. And Visa Resolve Online is Visa's dispute processing platform. So it's where everyone is going to connect a single source of truth for Visa disputes. It's where we capture all of the data for the full life cycle, processing data and documentation between the 2 parties and then ultimately, the financial liability. Within Visa Resolve Online, we also provide innovations to help clients efficiently support their customer experience strategies. And we're always continuously looking at ways to improve the process, to bring more efficient processing. So I'm going to be sharing 2 of our value-add Post-Purchase solutions that can be added to the issuers dispute workflow. So the first one we're going to talk about is Order Insight. An Order Insight supports data transparency, helping the issuer improve the customer experience. Order Insight gives you visibility to enrich transaction details from the merchants. This ensures a valuable information about the transaction that may be used to help deflect disputes by helping cardholders recognize transactions, clarify misinterpretations or reduce friendly fraud. It also can help reduce write-offs for issuers. So it's really getting additional data that's not part of the original transaction enhanced data directly from the merchant to help a consumer understand more about the transaction. Data transparency through Order Insight will help the issuer up-level their customer experience with access to more detailed information about the transaction, it reduces operational requirements by ensuring the issuers armed with good data. So think about compelling evidence, think about information that helps tie your consumer to a transaction gives you that information as the issuer so that you can arm your consumer, your customer with more information that can maybe recognize the transaction and then the dispute is deflected. Issuers can achieve one call resolution with access to the real-time information from the merchants to help clarify unrecognized transactions and ultimately help deflect unnecessary use fees from being processed within the network saving time and money. So let's talk about second product, which is Visa Risk-based Auto Dispute. So fraud is a huge burden on the ecosystem. It undermines consumer confidence, it negatively impacts the customer experience and carries a heavy operational overhead. VRAD makes up most of the Visa dispute volume, representing about 72% in the U.S. Visa is committed to continually looking for new ways to improve the customer experience and reduce the operational burden. So Visa Risk-based Auto Dispute, which you may have heard termed as VRAD can help issuers manage this large fraud volume by providing a streamlined dispute initiation process. This happens at the initial confirmation of fraud for the consumer. So think about when your consumer is calling in or your contact at your consumer on potential fraud at the point that they've confirmed that it is fraud, whether it has been settled or still in that authorization stage. VRAD is going to be able to assess with that workflow. This will result in a quicker processing. It will allow for fewer touch points by your end user, which means, again, operational savings on your end. So how does it work? Within the typical process when a fraud is identified at the authorization stage of the transaction, the issuer needs to wait for that transaction to settle, to be able to process a dispute. So we need to settle transactions to actually process the dispute. This requires that multiple additional touch points are needed by that user. So they're going to set up the initial confirmed fraud and then they'll have to come back to that transaction to actually dispute it. With VRAD, the issuer is able to initiate the dispute process immediately at the point that the fraud is confirmed by the consumer. After the issuer initiates the dispute process, they'll do this through their normal process. All of the work happens in the background. So what VRAD is actually doing is systematically monitoring for the disputed transaction to settle and then it will automatically trigger the initiation of the dispute process. So nobody has to go back and hit the actual submit button on the dispute, all happens in the background, eligible disputes will process without issue, do the normal process, no one's had to touch it again. And disputes that are ineligible based on our rules or maybe the issuers rules such as write-off limits, will then end up in the queue to be properly resolved by the end user. So using both Order Insight and VRAD can help the issuer better manage their increasing dispute volumes and improves our customer experience.

Thank you, Liz. So that was a great explanation of Order Insight and VRAD. Can you explain a bit more on how ServiceNow is helping these Visa processes?

Absolutely. It's a great question, Tom. So ServiceNow Dispute Management Solution has integrated both Order Insight and VRAD into their workflow. So from a Visa perspective, I would say this is the easy button for an issuer, right, to be able to take advantage of these solutions. We want to make sure that everyone is able to take advantage of our innovations, our value-added services to improve the process and make the experience better for the entire ecosystem, and ServiceNow has helped us do that by integrating these solutions into their solution.

Thank you, Liz. That was great. Thank you very much. With that, I would love to go back to Tammi, who is going to give us a bit more information on ServiceNow Disputes Management, Built with Visa and just some details on what was built and the benefits. So Tammi, I'm going to pass things back to you.

Thanks, Tom. Yes, so I wanted to spend a few minutes going through in a little bit more detail and bringing to life some of the capabilities that we've brought to market in partnership with what Liz just described. What you see here is our disputes agent experience. This is an existing capability that we had in the product, but we've really optimize it further as part of the Washington release for the dispute analyst. Some examples are just really bringing the relevant information to life for the agent, right? So whether it's customer information, trying to figure out the status of the dispute, mapping the case back to SLAs, we're really making this information more prominent and easy to access for the dispute agent. We've also aligned a lot of our workflow with what Liz just described, right? So aligning the workflow and how the Visa process works, right? So those are a couple of examples. Ultimately, our objectives with some of the enhancements we've made here is one, enable and dispute analyst get their job done faster and handle disputes faster, right? If we can present the right information to the dispute analysts, they can solve these more effectively. A second goal is really around giving more transparent visibility into the status of the dispute. We're certainly doing it on the agent side by bringing some of this information and making it more visible and prominent to the agent. But at the same time, we've added some pre-configured email templates, right? So either in an automated way or triggered by an agent, communications can go out to a customer to notify them of the status of a dispute. And then lastly, we've really focused on how do we provide the right guidance to a dispute agent. So Liz touched a little bit on the disputes process, and there are a lot of steps to it, right, depending on the nature of a dispute. So there's customer interactions, there's interactions with VROL, which extend to interactions with the merchant. And all of that can lead to a number of tasks, right, that's within a case. And so one of the things that we're really focused on highlighting the most critical work that an agent needs to get done through this enhanced dispute analyst experience.

And Tammi, just a follow-up. As the title would explain, this offers some very clear benefits to dispute agents, like you just mentioned, can you expand a bit or provide some examples of how this workspace making dispute agents lives much easier directly impacts customers?

Sure. Yes. No. I mean, I would say it's really the flip side of some of what I just described, right? So from a customer experience, if a dispute analyst can get their work done more effectively then ultimately, the customer benefits, right, because they can get a resolution on their dispute faster. There's also with these pre-configured e-mail templates, but also just with the connected system, right, where you can expose relevant information through a digital channel directly to a customer, you can make sure that a customer more easily has access to the status of their dispute, right? So a customer will be eager to know what's going on. This could take weeks, it could potentially take even months. So making it easy for our customer to get updates is really critical. And then the last thing I would say is really around eliminating some of the back and forth with some of the intelligence we've included around making sure that you collect the right information upfront, we're eliminating the need to go back to customers and collect more information and potentially collect more documents or evidence to help them with their dispute. So those are some of the examples on the customer side. The other thing I wanted to touch on is really kind of more of a management view and that's another area that we've really focused on in terms of enhancing some of the reporting and dashboard capabilities that we offer with disputes management. What you see here is a feature that we have on ServiceNow called Performance Analytics. And what we've done is taken this capability and really configured a number of dashboards and reports to give someone the best oversight into the dispute process. So through these dashboards, you can track things like SLAs, right? And how are you performing relative to SLAs. You can look at dispute trends. So are there specific reason codes. Liz talked about fraud, is fraud trending up? Is there seasonality in disputes? All of this information can be used to then potentially change your workforce, right? Do you need to change the scale or do you need to change capacity again, to align to some of kind of the business seasonality, right, or business trends that you're seeing around the disputes process. One other thing I would highlight is all of this is very configurable in terms of creating new views. And each of these views is also very dynamic and that you can go into it and actually get to the line item detail and the transaction detail to really analyze your business at that level. Moving on and highlighting a few other things that we focused on as part of the Washington release. We've talked a lot about intelligence and leveraging our partnership with Visa, Visa capabilities like Visa Resolve Online and the eligibility rules to really make the disputes process more effective from an issuer's perspective. And that intelligence, like I mentioned, is now fully embedded in the product. So in this visual, what you can see is we have built dynamic questionnaires, right? So Liz talked about the data and the rules. We need the ability to make sure we capture the right information around the transaction. Some of this can be coming from a system, some could be coming from the customer that ultimately that information needs to be collected so that you can assign the appropriate reason code for the dispute and then ultimately determine whether that transaction is eligible to be disputed. You can see in this visual, too, as it moves through that we are presenting back guidance to the agent around eligibility. So we are telling the agent based on the information collected mapping it to the rules that Visa provides, whether or not a transaction is eligible to be disputed, which ultimately, if they follow that guidance, we'll improve their win rates. So we're bringing, again, a lot of this intelligence forward to automate more of the process and create a better experience for both employees and customers. And then lastly, I did want to talk a little bit about generative AI. I touched on it at the beginning. And I really wanted to highlight how it fits into the disputes process, specifically with a couple of examples. So one of the capabilities that we have at ServiceNow from a generative AI perspective, is around case summarization, which you can see on this visual here. Again, if you think about a dispute, right, and the fact that it can last for a long time, there can be a lot of interactions between the issuer and a customer, there could be a lot of back and forth, right, between VROL in terms of updating the actual dispute, a lot of tasks associated with that. Ultimately, what case summarization does is it summarizes all of the activity in all of these interactions into intuitive summary, right? So if a new dispute analyst is picking up the case or if a customer is calling in and wants a quick status, what this can do is provide a very intuitive summary to help the agent move forward of the process or provide a response to the customer. And then similarly, on the customer side, we also have capabilities around how to improve the process with generative AI like I touched on. What you see here is a visual of our Gen AI-powered virtual assistant. And there's a couple of things that I would highlight here. So one is, Liz talked about Order Insight, right? And this is, again, the ability to enrich information around the transaction, provide more data to potentially deflect that transaction, right? So potentially, you did a transaction with a merchant doing business under a different name or once you see the address, it helps you recognize that transaction and potentially helps deflect a potential dispute right or a potential case. So with this intelligent assistant, you can present that information back to a customer, who's engaging through this channel. If that customer chooses to move forward, this virtual assistant can also handle the intake process in a very intuitive way by asking the customer the right questions, it replaces that dynamic questionnaire that was visible on -- that can be presented on a portal experience with more of a natural back-and-forth Q&A dialogue, again, with the goal of capturing the right information so that the dispute can then move on into its journey within the financial institution. So those are a couple of examples of how generative AI and some of the investments we're making at the platform level can also help drive more efficiency and productivity within the disputes process.

Thank you, Tammi. I know everybody wants to talk about generate AI. So I'd love to spend another minute or 2 here and just dig a little further if you mentioned everything fine, is there any other -- how else can Gen AI improve the disputes experience, if at all? Is there anything that you maybe didn't get as into that you could also mention?

Yes. I mean I do -- there are definitely other capabilities that are available from a ServiceNow platform perspective. I can touch on a few, right? And we often think about it as different personas, right? You have customers, you have agents that are doing the work, you have developers, right? So every persona can benefit from generative AI in different ways. If I start with the customers since we're looking at the screen, I touched on it at the very beginning, generative AI search results, right? And the ability to do a search and get a more intuitive response, natural language response, which can help a customer understand, right? In this case, it could be help the customer understand what to do next, right, when they don't recognize a transaction. From an agent perspective, so I just touched on case summarization, chat summarization. So if you think about even this interaction with the customer that I just shared, the ability to take the context of that, right, and summarize it for an agent that might be picking up the case on the other side, right, from an issuer perspective. Say you get further along in processing it, the ability to have a generative AI composed e-mail, right, or at least a draft of an e-mail that can be sent to a customer, right, updating them on the status of a case, or maybe telling them about the resolution of the case. Knowledge composition, right, could be another example. So once you solved a case for a customer, maybe you're successful and maybe it's a repeatable use case. How do you now compose a knowledge article that can then be used by future agents. And again, Gen AI can help compose these knowledge articles or at least composed drafts of these knowledge articles that can then be taken potentially edited and then posted as kind of final knowledge articles. So I mean, those are a few examples, I touched on different personas, I would say, the last from a developer perspective, I mentioned that rules can change, regulations can change. One example of how generative AI can even help a developer is looking at these changes, and we have capabilities around text-to-flow, text-to-code, so how can you look at changes that have been made in a card network rule or in a regulation and then compose or draft code, right, to make updates around the business logic to make sure that the business logic is maintained and up to date. So again, a lot of examples. It's a big area of focus, certainly for us, and I know for a lot of our customers. So a number of examples of how ServiceNow is looking at this broadly, but also how it can directly benefit, I think, the dispute management process.

Thank you. I wanted to make sure we got covered all the rocks there since it's such a hot topic. So Tammi just covered a lot on the offering, so I just want to quickly summarize. Again, a lot of tremendous benefits that can be recognized from this partnership between ServiceNow and Visa. So again, one, you can speed customer service and introduce transparency with those digitized communications and automation that Tammi mentioned. Secondly, intelligence everywhere with Gen AI. So you can increase self-service deflection with AI chatbots. You can intelligently route request to optimize agent efficiency. And again, that's just to name a few. Tammi mentioned a lot more. Thirdly, our comprehensive content integration with Visa with the intake questionnaires with reason code mapping, charge-back eligibility. That helps drive seamless operations, including that ongoing real-time rules maintenance, which is a massive timesaver. And then finally, the seamless compliance through automation, alerts, and audit trails. So those embedded rules and SLA requirements such as those to Reg Z and Reg E as well as analytics, dashboards, reports, make it far easier to adhere to compliance standards. So again, that's just a wrap-up of touching on some of the key points that Tammi just covered. And with that, before I pass things back to Tammi, I'm going to tap you all again for one more poll question. So I wanted to touch this one out there. We covered again. We covered a lot of areas that our disputes offering covers a lot of pain points that it can help alleviate. So which of these 4 choices would you say your organization struggles with the most if you could just take 30 seconds to answer. Tammi and Liz, do you have any guesses on what might come out on top here is the biggest driver of frustration and pain?

I can start. I mean I would say and just as we've built out our dispute management capability, we've worked with a handful of customers as we brought this to market. If I had to pick one, I would probably say the second one. I think swivel chairing, right, the need to, which I described earlier, pull information from one system, bring it into a different system, potentially create a case in VROL, track the status of that case and pull it back. That's what swivel chairing, I would say, is a fairly common pain point that I've heard.

I think I would tend to agree with Tammi. I think A is maybe a big one, too. I'm curious to see.

Give it like 10 more seconds here. We have a lot of response. I just want to give it a few more seconds. So everybody who wants to answer has a chance. [Voting]

Tammi, you hit on the head. Time spent [indiscernible]. Yes, I would expect a little more from A. But yes, so again, all these are pain points we feel and something we focused on. Love to hear your opinions, obviously, and your questions later, because as we continuously evolve, we obviously care where to spend our time and focus. Now I want to go back to Tammi once more to cover a few more pieces of information because while our partnership with Visa was the big rock for our Washington release for banking, there are some other pieces of information very worth calling out. So our Financial Services Operations product, being that it is built on top of our Customer Service Management product, it inherits all of the CSM innovations, and that is what Tammi is going to cover now. So Tammi?

Thanks, Tom. And yes, I just want to reemphasize that as I talk through some of these capabilities, what Tom said is really important, right? So we're working with our platform with customer service management to make sure that we're making investments that really will help serve the needs of our financial services customers. And so all of this becomes part of what we call Financial Services Operations. So here, we just have a few examples, again, of a number of capabilities that were part of our Washington release. The first example is what we call voice routing with Amazon Connect, using Advanced Work Assignment. The way to think about this is ServiceNow has a connection or an integration with Amazon Connect to deliver voice support in the contact center. And what we've done is we've integrated this more deeply with Advanced Work Assignment. So the organizations or financial institutions can be smarter about the way that you assign work, right, for these live calls to an agent based on their skills, based on their capacity, based on their availability. So ultimately, the goal of this is, again, driving better customer experience, because you're able to out calls to an agent or a team of agents that is best equipped to handle the customer again based on capacity or based on skill set. The second example is process experiences on portal. This is a new feature that we've made available. We often talk about it as playbooks on portal. So if you think about the dispute management process. And if you recall, kind of the structured set of steps that is now available from an agent experience around the dispute management process, we now have a playbook experience that could be exposed to customers through a digital experience, right, or through a portal experience. So what this is doing is as a customer is being guided through the process of submitting a dispute, there's a lot more structure around the intake, right? You can make sure that you're capturing the right information from a customer; if necessary, collecting documents; if a customer needs to go back or exit and then come back, you can save work along the way. So it's a much more structured and improved way to capture that intake experience. It benefits disputes, but it benefits of many use cases, right? If you think about an account onboarding experience, if you think about onboarding on the commercial banking side, right, and you might be signing up for a number of treasury services, right? You might have multiple approvers and beneficial owners, it's a much more structured way to make sure, again, you're capturing the right information and allowing the customer to come back and fill in more information as necessary. The third example here, you can see service model foundation, what we're calling business location 360. This is, again, a new feature that's built on our service model foundation. And what this does is it allows a manager right or an agent to get a holistic view of a service location. So again, if we think about it in the context of banking, you could be thinking about a branch location. That branch might have specific services that they can provide, right, or specific types of cases that they can open on behalf of customers. They have potentially a specific set of customers that are assigned to that location, specific attributes, ATM machines, right, whatever it might be. What this is doing is giving you a 360 view of that business location. The fourth example on the bottom left here, service catalog agent experience. The way to think about this is when you think about all of the different customer journeys that you need to support. And we talked about onboarding, we talked about servicing, we talked about escalations, but this can be tied to a number of different types of products, right? It could be a deposit account, it could be a credit card, it could be a loan, it could be on the commercial banking side. So what this service, this enhanced catalog agent experience is doing is allowing you to more easily search and filter for a specific service or a specific case type. So if you're an agent and you're interacting with a customer, you can more easily navigate to the specific case that you need to open on behalf of that customer. And then lastly, again, just some examples, but on the bottom right, you see this modernized activity stream. And the way to think about that is and again, I'll share it in the context of a dispute with a dispute because it can go on for some time, you might have a number of interactions with the customer. You might send a number of communications to a customer. There's a lot of different activity and tasks that are part of this case. What we've done with this modernized activity stream is make it easier to navigate the activity stream, right? So you can filter by things like interaction types, right, like filter by e-mails that have been sent, for example, or filter by a date range, ultimately with the goal of making it easier for an agent that's doing work to really zero in on whatever specific activity they want to capture from that activity stream, right, or from that audit trail that's in the activity stream. So again, these are just a few examples. We are continuously investing in customer engagement channels, agent experiences. I talked about generative AI, right, every release, we continue to invest in terms of new capabilities and optimizing existing capabilities there. So a lot more to cover than we can cover in this session, but I wanted to just share some highlights of some of the enhancements that we've made that I think are very relevant to the dispute process. And with that, I'll hand it back to you, Tom.

Thanks for that, Tammi. So what do you do next? You attended today's webinar, Obviously, we want you to get the most out of it. So you can go to the ServiceNow store and start to explore our applications and integrations for banking. Number two, you can engage in the ServiceNow community. So if you are not already a member, let's fix that and get you signed up. We are constantly interacting with our user community. And on that note, we'll be posting the Q&A components of today's section out there on the community within the next few days. And then again, obviously, if there's something you want to dive deeper into or if you want a meeting or a demo, please reach out to your account reps and schedule that meeting and demo and we'd love to dive deeper. On-demand webinars. So there's the link. And again, we'll share all this with you post webinar, so you have all these links, but there's a link to on-demand webinar. So any webinars we've done in the past across industries and products, including this one today, you can find them within our on-demand webinar section. And again, we'll send you this link afterwards, so you don't have to where you have all of this. And now I want to take -- we have a few minutes left. I want to take some Q&A. A lot of questions came in. So I'm just going to sort through here and try and pick out some good ones. And again, those that we don't get to because we cannot get to all these, we will follow up with each and everyone after this webinar.

So Liz, I am going to you real quick. The one question that came up is how do I find out more about the Visa services you described today?

Sure. Thanks, Tom. Yes, there's a couple of different ways that you can find the information. So you can go to our public site, which is visa.com and you can do a search on post purchase, and you'll get information on VRAD and Order Insight plus other products that we have out there related to Post Purchase. With a Visa private site is Visa online. And if you're a client of Visa, then you may already have access to that, you'll need to check to see if you have permissions. And you'll find that our information under operations. And you can also contact your Visa representative, and they can help you find the information.

Perfect. Thank you, Liz. I was going to try to get 2 or 3 more in here. Tammi, this looks like it would make sense for you. What if I don't issue Visa cards, will this work for me?

Yes. Good question. So yes, no, absolutely, the answer is yes. And I would say that in a few ways. First, if you think about some of the capabilities that I walked through earlier, so our dispute agent experience, a lot of the elements of the workflow, a lot of the reporting capabilities, all of those, I would say, are largely card network-agnostic, right? So certainly taking advantage of some of those foundational capabilities or data model, right, all of that is there. We also recognize that many customers either don't issue Visa cards or issue multiple card network or cards for multiple card networks. And so what I would say there is if you happen to be a Mastercard issuer, we do have capabilities around that reach out if it's something that's of interest. And we'll be talking more about that as we announce future releases as well. And also, we will be adding additional card networks over time. And the last thing I would say around that is our platform is very integration-friendly. So we will be adding integrations, we will be maintaining those, but certainly, we have customers who have built their own integrations, and that's always an option as well.

At least one more, if I can get 2 in here. Tammi, you also view, how do you handle Visa rule changes?

Yes. So one of the things, like we talked about during the session is we will be maintaining the rules, right? And I touched on Visa has a couple of changes every calendar year, may make changes right a couple of times a year. Same applies for Mastercard, similar concept for other card networks. So we are maintaining those. We will be making changes to our business rules as it makes sense as well as if it impacts it, we can make changes to our workflow or intake forms, right, to make sure we're capturing the data. So all of that, again, we will be maintaining on behalf of our customers. We're working very closely with Visa, right, to make sure that we're getting timely information on what these changes are and making sure that we interpret them correctly to make sure that we roll them out correctly for our customers.

We have time for one more for both of you. So I outsource some of my dispute volume. Can you help with this? So I'll start with you, Tammi, then we'll go to Liz.

Yes. So what I would say on that is the answer is yes, right? So we've talked during the session today, we try to talk about kind of how ServiceNow can help broadly across the disputes process, right? And it can be everything from the intake, which can happen from a customer perspective and agent perspective, through the resolution, you can track status on ServiceNow. So I would say it's very flexible of how you want to leverage ServiceNow, right? So if you want to use it for a certain part of the process, if you want to use it for a subset of disputes and maybe pass like if it's a seasonality thing right potentially outsource some of the disputes and maintain the status on ServiceNow, that actual, I guess, implementation is very flexible in terms of how we can support kind of a fully or partially outsourced model for the dispute investigation process. I don't know, Liz, if there's anything that you want to add from that from a Visa perspective.

The only thing I would add from a Visa perspective is we do have managed services offer through Visa, if that's something that you're interested in. It's Visa dispute management services. So again, can reach out to the same channels I mentioned earlier, but that is an offering that we do have.

Okay. Thank you. We have a few other points to wrap up there. Again, there's a lot of questions. We will need another hour to get to all of them. So we will follow up post webinar with every one of you and get those questions answered. I just want to call out here, be sure to check out the Washington release website, which has some tremendous resources such as the Washington keynote and blog covering the innovation and hot topics across the entire ServiceNow platform, including the new Gen AI capabilities that came out in the Washington D.C. release. And I can't go without giving a shout out to Knowledge 2024, which is coming up in just a little less than a month, May 7 through 9 at the Venetian in Las Vegas, so get registered, if you haven't done so already, there's going to be a ton of great banking sessions including a keynote session featuring Visa and M&T Bank, demos where you can see our product in action, including what we spoke about today. And then a banking lab where you can get hands on with the product. It's led by our product leaders, SCs and some Visa folks that, again, you can actually get in there and actually use the product and much, much more. And we also have similar sessions across industries, including insurance, and then again, a number of ServiceNow and Visa led sessions, which I will highlight here. So again, we have that keynote featuring M&T Bank and Visa. We have a demo that I'll be involved in, where we will show, again, this offering in action. Some roundtables for some great discussions and labs. So really a lot of good stuff, May 7 through 9th Las Vegas. It's our biggest event of the year, a lot of great sessions. So again, if you haven't registered, there's still time, get registered, and we hope to see you there. And here's just another couple of sessions, ServiceNow and Visa. So again, thank you so much for joining us today. I hope you got a lot of great information out of this session. We will follow up with you all with the content and answers to those questions that we did not get to. And thank you very much again, and hope you enjoy the rest of your day and week. So long, everybody. Thank you.