The Financial Services Cloud Platform is continuing to grow, helping wealth managers to unify customer experience. [shutterstock: 419627416, Jarva Jar]
[shutterstock: 419627416, Jarva Jar]
CRM Press Release

Salesforce Expands Financial Services Cloud Platform

Salesforce announced new advancements in Financial Services Cloud to unify customer experiences across consumer and commercial lines of business in banking, wealth management and insurance. It introduced these new expansions to transform the way wealth managers and retail bankers engage with clients and their families.

Now, with a new solution for business and commercial bankers, as well as new AI innovations and integrations, financial institutions can gain customer loyalty by delivering smarter and more connected experiences across every customer touchpoint.

For financial services institutions, customer relationships can be complex. That’s because each individual’s financial needs evolve throughout their personal and professional lives. A client who needs wealth management services today may need a loan to grow a small business tomorrow.

Today’s most popular AI-infused consumer apps are setting a new bar for digital experiences. Consequently, convenience has a growing influence on the choice of financial services providers.

Immense pressure

New entrants are now lending billions of dollars per year in business loans. Consequently, legacy financial institutions are under immense pressure to adapt. However, decades of acquisitions and an explosion of data have created a fractured view of customers.

“The financial services industry is going through a massive convergence as disruptive new entrants are forcing financial institutions to reimagine the entire customer experience across every line of business,” said Rohit Mahna, SVP and GM of Financial Services at Salesforce. “With the new innovation in Financial Services Cloud, financial institutions can now deliver the experience that customers demand.”

A unified view of the customer

Employees at financial institutions traditionally have had a fragmented view of their customer due to siloed and disconnected internal systems. Now, with Lightning-enabled features in Financial Services Cloud, they can unify the entire customer experience.

  • Commercial Banking App. It gives relationship managers and product specialists a complete view of every customer’s business and commercial accounts. It also lets them identify the most profitable relationships and streamline the onboarding of new clients. In addition, a new record type and fields for profiling commercial banking services allow relationship managers to see them in the context of a customer’s profile. Finally, intelligent business referrals allow relationship managers to capture clients’ expressed interest in products and services and route referrals to the correct colleagues in any part of the bank — including other lines of business such as wealth management or retail banking — to unify the entire banking experience.
  • Salesforce Surveys for Financial Services Cloud. They capture customer feedback with easy-to-build branded surveys for both personal and commercial customer interactions. Relationship managers can quickly view survey data within their client’s profile or create reports and dashboards and share customer insights internally. For example, a banker can automatically send a timely and customized customer satisfaction survey after a meeting and use the response data to adjust how they engage and deliver services in the future, helping build more personalized relationships

Intelligent experiences for customers and employees

With new AI-enabled innovations, financial institutions can provide smarter and more impactful services to customers.

  • Einstein Bots for Financial Services Cloud. They provide retail banking customers with intelligent, self-service bots that help them report lost credit cards or place travel notifications through a bank’s website or mobile app.
  • Einstein Analytics for Financial Services Cloud. It includes pre-built, industry-specific analytics for wealth, retail and business banking. Financial services firms can accelerate their time from data to insights.

Source:
Salesforce

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