Banking technology platform BUSINESSNEXT was funded with $40 million in a Series C round with ServiceNow Ventures, taking the company’s valuation to $700 million. It’s a big deal for the fintech company, which is helping to build up AI-based banking solutions and become a global financial player.
The new capital will be primarily used to enhance BUSINESSNEXT's private AI capabilities and develop autonomous banking platforms to automate customer engagement, lending, and operational workflows, as well as to maintain high levels of security and regulatory compliance.
Strategic Partnership with ServiceNow
The funding round also establishes a strategic partnership between BUSINESSNEXT and ServiceNow to leverage both companies’ strengths to create a more autonomous banking platform.
The collaboration seeks to bridge the gap between customer-facing banking systems and enterprise banking services by integrating customer intelligence, workflow automation, and AI-driven decision-making.
The joint platform is expected to automate critical banking processes such as:
Customer onboarding
Loan processing and lending
Financial advisory services
Customer relationship management
Enterprise workflow automation
By integrating AI into their operations, banks can improve efficiency, shorten turnaround times and customer service experiences, as well as increase service delivery time and customer service; the banks can be better able to optimize their operations.
Focus on Private AI
According to BUSINESSNEXT, one of the main objectives of the investment is to accelerate the adoption of private AI in the banking sector.
Unlike public AI models, private AI solutions are designed to work within secure enterprise environments, helping financial institutions meet stringent requirements related to:
Data privacy
Regulatory compliance
Governance
Information security
Data sovereignty
CEO Nishant Singh said the company has spent years developing the autonomous banking industry, and now AI technologies are rapidly advancing, making it a huge opportunity for banks worldwide.
He said the new investment will support BUSINESSNEXT to deliver banking-specific AI solutions and to keep customer data safe and compliant with global requirements.
India's Financial Sector Moving Towards AI
Kulmeet Bawa, Group Vice President and Managing Director for India & SAARC at ServiceNow, said India’s financial services industry is entering a new phase where institutions are moving beyond digital transformation towards AI-driven operations.
He added that ServiceNow’s investment reflects confidence in this transition and will combine the company’s enterprise AI expertise with BUSINESSNEXT’s deep banking domain knowledge to help financial institutions improve operational efficiency and customer service.
Growing Market Opportunity
Industry research has suggested that the global autonomous banking market could reach $3.59 billion by 2035, growing at a compound annual growth rate (CAGR) of 20.28% according to BUSINESSNEXT.
This strong growth is fueled by increased investment in artificial intelligence, workflow automation, digital customer engagement, and intelligent decision-making in banking.
Strong Global Presence
The company is already international
According to BUSINESSNEXT:
Its platform serves more than one million bankers.
It supports operations in more than 75,000 banking branches worldwide.
It provides services for more than one billion end customers worldwide.
In the last 15 years, the company has developed AI solutions for financial institutions designed specifically for customer engagement, lending automation, and intelligent workflow execution.
Industry Recognition
BUSINESSNEXT also highlighted its recognition as a Leader in The Forrester Wave™: Customer Relationship Management Software for Financial Services, Q1 2025.
The research firm acknowledged the company's strengths in:
Banking-specific workflows
AI-powered capabilities
Product customisation
Enterprise-grade customer relationship management
Outlook
This funding will accelerate BUSINESSNEXT's global growth and cement India’s growing position as a leader in AI-driven financial technology development. As banks become more automated and private AI is used to improve the customer experience and operational efficiency, the partnership with ServiceNow will help BUSINESSNEXT to have a significant impact on autonomous banking in the future.
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