The emergence of Salesforce Financial Service Cloud
After the innovation of the first CRM “ACT” back in 1987, the world has taken its own shape and scope. From the software-based CRM tool to cloud-based CRM. A note of thanks to Marc Benioff for introducing the capability of cloud computing through Salesforce.
Salesforce amalgamates different functions of the business in one place, starting from the sales, marketing, service, commerce, and IT teams. With the help of Customer 360, you can focus on your employees with the priority to your business– sustain your business, restart, and start fulfilling customer expectations.
We have leveraged the power of the Finance cloud with Machine Learning and AI for some of our esteemed clients like Credit Sesame , a company that has featured in Forbes, The New York Times and much more. They focus on improving the customers financial health by providing them free access to their credit score.
After the emergence of Salesforce back in 1999 and delivering success to many businesses, it became the world’s #1 CRM in 2012. Be it any drift in the business, Salesforce got you covered with their updates. In addition, Salesforce came up with the Financial Services Cloud launch in 2015 with the intention to make the life of financial institutions more easier and organized. It helps banks, insurance companies, wealth managers and other financial institutions by providing better service to their clients and all this comes with very cost-effective rates. Hence, seeing revenue numbers growing for your clients and for the institution for which you work.
Let’s understand what Salesforce Financial Cloud is.
Based on the world’s #1 CRM, Financial Services Cloud empowers financial institutions to enhance the consumer and commercial experience and fabricate faith by coalescence through covering all channels and geographies.
As a financial service cloud is based on cloud computing which makes it secure and competent enough to handle and manage crucial financial data clients and businesses.
Now, bankers, insurers and advisors can accelerate digital transformation while delivering the personalized service customers expect, with a single view of each customer’s household. In your institution, everyone can visualize customer relationships and related key information in one place.
In addition, it provides a consistent customer experience across any channel because salesforce makes it easy for your customers to connect with you from anywhere, at any time with customizable communities. It allows you to view cases and financial goals, manage policies and track documents to create a single source of truth for your customers while identifying life events and areas of opportunity to drive contextual action for investments, lending, mortgage and insurance right out of the box with Customer 360 Degree Platform.
Let’s find out which Salesforce Financial Cloud feature helps you to build trusted customer relationships for your financial institution.
1. Financial Services Data Model and Console
Build industry-specific objects, permission sets, and user interfaces for better interface and increase employee productivity.
2. Relationship Builder and Map
See what influences your customer with households, trusts, and business groups for the customized engagement.
3. Actionable Relationship Center
View multiple layers of relationships and related key information in one place to identify areas of opportunity and drive contextual action.
4. Financial Accounts and Rollups
Don’t just manage a single individual of the family, get the visibility of the household and deliver relevant products and services to their needs.
5. Life Events and Business Milestones
Visualize important life events and business milestones like having a baby, or a new product launch to create more personal, need-based customer engagement.
6. Action Plans
Templates help you manage engagement consistently, efficiently, and compliantly with your customer.
7. Document Tracking and Approvals
Simplify document collection, configure your approval process, and increase visibility into approval status.
8. Cases and Alerts
Enable your service agents to link financial accounts, customers, or households to a specific case to trigger alerts and ensure issues are resolved.
9. Guided Residential Loan Application
Guide borrowers and loan officers through step-by-step flows that gather information from the Uniform Residential Loan Application.Capture and share borrower information across lines of business.
10. Lightning Flows for Financial Services Cloud
Define step by step guide for managing similar service requests for your agents and customer service representatives
11. Intelligent Needs-Based Referrals
Track your referral end to end, give scoring and reward the employee for the same which enriches the relationships and collaboration.
12. Einstein Bots for Financial Services Cloud
Attend customer concerns rapidly, bring down call volume to save your company time and money with Einstein Bots.
13. Einstein Analytics for Financial Services
Get data insight and analysis like never before with pre-built and customizable AI tools.
Every financial institution wants to keep its customer interest at the center by keeping the relationship intact with more personalized engagement where Salesforce Finance Cloud stands at the top to help you in the same.