New Delhi, July 27 -- ServiceNow has invested $40 million in BUSINESSNEXT through a Series C round valuing the financial services technology company at $700 million.

But the significance of the deal extends beyond the funding. At its core, the collaboration is an attempt to connect two parts of banking technology that have traditionally operated across separate systems: the customer-facing layer, where banks acquire, engage and serve customers, and the operational layer, where cases, complaints, compliance processes and other workflows are executed.

BUSINESSNEXT brings financial services-focused customer relationship management, digital lending, customer intelligence and AI-led decisioning. ServiceNow brings its workflow orchestration, ...