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Salesforce Financial Cloud


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Financial service providers act as the lubricating oil in the economy. They link consumers who want to invest their savings for a good return with companies that want to borrow on best terms for expansion. “ Quote by John Bruton

No major industry can survive if they don’t put their customers at the centre of their universe. Customer delight or satisfaction are not lofty terms to be bandied about on blogs but are mission values that need to be addressed on a daily basis. Hence, aiding companies on this mission is Salesforce CRM, which drives personalised customer engagement like no other tool. The financial services industry is now onboarding CRMs like Salesforce, knowing fully well that catering to their diverse client bases is made easier by it. Let see how Salesforce CRM is helping this sector.

Here is how Salesforce CRM is useful for the financial services sector: 
  1. Self-service portals. Most people (except the older generation, who are not so tech-savvy) are comfortable doing things themselves. This extends to using self-service portals to do most of the work themselves. This includes downloading the cell phone app of the company, creating a login account, uploading financial information and getting access to its core platform functionality. 

  2. Automation of the KYC tasks. Salesforce’s automation of the know-your-customer functions is a big boon for any company. It saves the same to be done manually as well as removes the scope of error when undertaken by humans. The freeing of humans from this mundane task allows them to spend more time on other important work tasks. 

  3. Personalising customer experience. It starts with letting the customers / leads decide how they wish to engage with the company. It could be on the phone, webchat, email, live video calls, or even face-to-face meetings. Then the data stored in Salesforce can be activated to send out relevant messaging to each customer / lead based on it. 

  4. Connecting with third-party providers during compliance checks. With Salesforce CRM, time & resources are conserved for completing the mandatory checks by linking the system with automated compliance check services. 

  5. It enables companies to adhere to financial services regulations and security measures. Deployment of a self-service portal that’s linked to Salesforce CRM lets customers submit documentation and update data to kick-start the onboarding process and ensure regulatory compliance throughout the client lifecycle. 

These are some of the ways a CRM like Salesforce is proving to be an asset for this sector. So as you can see, a CRM is a force multiplier for a company providing financial services. It drives client base, customer delight, and revenues for expansion for the company. In brief, a win-win for the sector. 

About the Author

Anand Sharma

Anand is a Salesforce Evangelist, joined the Salesforce ecosystem in 2014 helping customers to be successful with Salesforce, and joined Codleo to share the goodness with even more developers all around the world. He is based in New Delhi, with his wife, and he tries to escape summers every chance he gets.

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