What is the Salesforce Financial Service Cloud?

Purpose-built for financial services companies, Salesforce Financial Services Cloud is a customer relationship management (CRM) system that helps companies manage customer relationships more dexterously, grow faster, and unlock deep insight. of their customers.

It is an industry-specific Salesforce product with pre-built workflows and data models tailored for the financial services industry. It provides relevant information at every stage of a customer’s lifecycle. Insurance, banking, mortgages, wealth management, and other sectors of the financial industry widely use this Salesforce product.

Salesforce Financial Services Cloud Features

Financial Services Cloud is built on the Salesforce Customer Success Platform, has features specifically designed for customer engagement, and was designed with the needs of advisors in mind. One of the key benefits of the Financial Services Cloud is its ability to transform the way wealth and wealth management, finance and insurance companies interact with and serve their customers. Some other features include:

• Complete customer and household views
• Customer loyalty and productivity
• Customer data management

Advantages Of Using Salesforce Financial Services Cloud

Financial Services Cloud enables employees and individuals to have deep and efficient conversations and workflows, reducing friction and increasing efficiency.

• Intuitive customer service and relationship: The Financial Services Cloud can help your business in many ways when customers expect more from businesses, including helpful advice, quick responses, and 24/7 communication.
  • By matching customers to households, trusts, and business organizations, you can find high-quality customers and relationships.
  • Visualize and capitalize on new opportunities arising from layers of critical relationships and information already in place.
  • With Salesforce Financial Services Cloud, you can provide your customers with a seamless and intuitive experience.
• Improved visibility into financial accounts and total: Salesforce Financial Services Cloud offers several financial accounts, including insurance policies, bank accounts, and investment accounts. The Financial Account object has predefined record types for various financial accounts. Financial goals help advisors formulate investment plans that meet their clients’ financial goals. This helps you get a complete overview of your client’s accounts and assets to provide the best product and service recommendations.
• Transparent case notifications, tracking, and approvals: The Financial Services Cloud eliminates communication gaps between team members. To achieve specific goals, it automates key tasks that can be automatically assigned to the right team members based on their profiles. With the help of Lead Tracking Financial Services Cloud, you can closely monitor leads and referrals. Track your clients’ approval status with a personalized approval process, easy document capture, and the ability to link financial accounts, clients, and families to records.
• Improved customer retention: Salesforce Financial Services Cloud improves engagement, whether with stakeholders, teams, or end users. It opens up a wealth of new perspectives and its powerful features provide businesses with exceptional digital engagement. Capture and illustrate your customers’ important life and professional milestones, such as introducing a new product or moving to a new place. Additionally, this platform provides reliable and trustworthy insights by leveraging AI, ultimately enabling businesses to make better decisions.
• Intelligent routing of referrals: including routing, insights, and scoring, Financial Service Cloud allows you to prioritize customer relationships and work across multiple enterprise silos. AI-powered referral scoring and routing help you manage and prioritize relationships more effectively. You can create a smooth communication flow to track and convert referrals after developing a referral pipeline. Now that you have successfully converted these referrals, the system will automatically create an opportunity and account.
• Business Intelligence and Advisor Analytics: Financial advisors can provide their clients with more informed decisions using the Salesforce Financial Services Cloud analytics dashboard and data, helping their growth and revenue. Pre-built templates tailored exclusively for the financial services industry provide instant information at your fingertips. This platform is more reliable and accurate for making smarter financial decisions because its analytics are powered by innovative artificial intelligence technology. That’s why the Salesforce Financial Services Cloud is a powerful tool for wealth managers, banking professionals, insurance consultants, and business and IT managers. It allows them to make faster, smarter decisions, increasing productivity. Insurance agents can offer any customer a customized product on a variety of devices using the Salesforce cloud for financial services. Your agents can gain in-depth knowledge of the entire pipeline, from streamlined service flows to the ability to track new opportunities. Financial Services Cloud has all the capabilities needed to provide customers with a satisfying customer experience and a smooth onboarding process. That said, it’s important to recognize that a tool is only effective if the user uses it. So finding the best professional help from Salesforce is just as important.

Conclusion

Salesforce Financial Services Cloud is a specialized platform designed to meet the unique needs of financial institutions. It offers a 360-degree view of clients, enabling personalized and proactive service that fosters trust and loyalty. With features like wealth management, insurance, and banking solutions, it empowers financial advisors to deliver exceptional client experiences and streamline operations. At Ashapura Softech, we specialize in implementing Salesforce Financial Services Cloud to help you drive growth and efficiency in your financial business. Whether you’re looking to enhance client relationships or improve operational workflows, our team is here to support you. Contact us at [email protected] to discover how we can tailor Salesforce solutions to fit your financial services needs.