ServiceNow, a U.S.enterprise software company specializing in workflow automation, has invested $40 million in BusinessNext, an Indian banking software firm valued at $700 million.

This partnership aims to deepen ServiceNow's presence in global financial services by leveraging BusinessNext's expertise in customer-facing banking workflows and ServiceNow's back-office automation capabilities.BusinessNext, based in Noida, serves over 70 banks across India, Southeast Asia, the Middle East, and the U.S., with half its revenue generated internationally.

The investment provides BusinessNext access to ServiceNow's global sales network, enabling faster expansion into markets where it has limited presence.

Founder Nishant Singh emphasized that AI is central to BusinessNext's platform, which manages banking workflows while keeping customer data secure on private infrastructure.This move reflects broader industry trends as traditional SaaS tools face competition from AI-native alternatives.

The collaboration combines ServiceNow's enterprise workflow platform with BusinessNext's banking expertise, positioning them to offer joint solutions for financial institutions transitioning to AI-led operations.