Fintech companies face massive operational challenges, ranging from compliance and cybersecurity to IT scalability. Moreover, they must navigate ever-changing regulations like GDPR and PCI-DSS while maintaining security. In addition, the risk of cyberattacks is increasing, making automated security solutions essential. As a result, fintech firms require a reliable platform like ServiceNow to streamline operations.The biggest challenges include:
If fintech is all about speed and innovation, why are so many companies still stuck with outdated processes?
This is where ServiceNow implementation makes a difference. By automating workflows, streamlining IT services, strengthening security, and ensuring compliance, ServiceNow enables fintech companies to scale effortlessly.
What You’ll Learn in This Article:
Explore the biggest challenges fintech companies encounter and how they impact efficiency, security, and compliance.
Discover how ServiceNow implementation provides solutions, from automating workflows to enhancing cybersecurity.
Learn from Teiva Systems’ success story and see how they transformed their operations with ServiceNow.
For a broader look at ServiceNow platform solutions for fintech, check out our main article here.
Compliance: Keeping Up with Ever-Changing Regulations
Fintech is one of the most heavily regulated industries. Companies must comply with laws like:
Manually tracking these compliance requirements? That’s a nightmare. ServiceNow governance, risk, and compliance (GRC) automates regulatory tracking, reducing the risk of fines and errors.
Cybersecurity: Constantly Fighting Off Attacks
Fintech is a prime target for hackers. Cybercriminals look for ways to:
Without ServiceNow security operations (SecOps), fintech firms risk huge financial and reputational damage. Automated threat monitoring is no longer optional—it’s essential.
IT Service Management (ITSM): Scaling Fast Without Breaking Down
In fintech, downtime is not an option. Customers expect instant transactions, real-time access to accounts, and 99.99% uptime. But many fintech firms still use legacy ITSM systems that:
With ServiceNow ITSM implementation, companies automate IT service management and ensure seamless support.
Workflow Inefficiencies: Too Many Tools, Not Enough Integration
Many fintech companies rely on disconnected tools to manage IT, security, compliance, and customer service.
That’s why fintech companies need ServiceNow integration—a single platform to unify IT, compliance, security, and workflows.
That’s why fintech companies need a solution like ServiceNow—a single platform that unifies IT, compliance, security, and workflows.
IT Service Management (ITSM): Faster Issue Resolution
The Impact? Faster IT support, fewer disruptions, happier customers.
Compliance & Risk Management: Stay Audit-Ready 24/7
With ServiceNow GRC (Governance, Risk, and Compliance) fintech firms can:
The Impact? Zero panic before audits, no costly compliance mistakes.
Cybersecurity: Detect & Stop Threats in Real Time
With ServiceNow Security Operations (SecOps), fintech companies can:
The Impact? Fewer breaches, faster threat response, no firefighting.
Fintech firms use multiple apps and tools (banking platforms, payment processors, customer portals, etc.). ServiceNow’s Integration Hub ensures that:
The Impact? Faster transactions, better decision-making, lower operational costs.
Teiva Systems, a fintech technology provider, faced major inefficiencies:
So, they implemented ServiceNow ITSM, GRC, and SecOps, and the results were game-changing:
Looking ahead, fintech companies need to:
With ServiceNow, fintech firms can stay ahead of the curve—instead of constantly playing catch-up.
Next up: How to implement ServiceNow in fintech and see immediate benefits. Read our next article: Automating Fintech Workflows: A Deep Dive.
Oleksii Konakhovych, CTO, Mar 05, 2025
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