Salesforce Financial Services Cloud

Salesforce Financial Services Cloud Benefits

Salesforce Financial Services Cloud helps you build, manage, and grow relationships with your customers in a secure and governed environment. Here are the many ways the platform helps financial institutions increase customer loyalty:

• Custom fields and objects for modeling financial accounts, assets, liabilities, and goals

• A range of security protections that monitor data access and usage, in addition to detecting malicious activity for the protection of sensitive payment card info (PCI)

• Access to event monitoring, field audit trails, and the ability to apply platform-level encryption

• Access and integration support for third-party financial solutions

• The ability to create repeatable and visible processes that drive consistency and compliance

• The ability to monitor and track metrics relating to client relationships like customer lifetime value (CLV) and sales by channely

• The ability to create personalized services in real time using custom objects (this could look like a master insurance product with modular sub-components to design a service that meets customer budgets and feature requirements).

• Closer one-on-one relationships with financial clients with all customer data and AI suggestions presented to the employee

• The ability to convert Standard Operating Procedures (SOPs) into Smart Actions to automate common workflows

• Real-time client engagement via omnichannel communications; picking up and dropping off interactions wherever the customer touchpoint happens to be with zero loss of data visibility

• Custom data models can be designed using the Schema Builder for a Salesforce that is aligned with operations

• Lead-to-client conversion playbook templates

• Engagement cards that prescribe proactive actions to be taken by executives

• Easy-to-aggregate data from both internal systems and third-party platforms

Who is the Salesforce Financial Services Cloud For?

Before deciding whether to invest in Sales Cloud or Financial Services Cloud, it is important to fully understand the nuances between the two. While many organizations stand to benefit from Financial Services Cloud powerful features, here are the institutions that stand to gain the most from their investment.

Corporate and Investment Banking

B2B banking service providers can empower staff to build deeper client relationships. This is achieved using case pipelines, cross-team collaboration tools, and access to internal and third-party data sources. Other benefits include greater productivity and native compliance across the entire wealth management lifecycle.

The result is senior bankers, analysts, and compliance managers who can access the right data at the right time for customers.

Retail and Commercial Banking

The Financial Services Cloud helps retail banks to delve into customer demographics and understand what existing financial services are in use. The goal is to drive understanding of customer lifestyles and improve financial service alignment with their needs. This is possible thanks to a 360-degree visibility into customer’s financial profiles, driving loyalty and satisfaction.

Insurance

Insurance service catalogs allow for programmatic design of insurance products and policies. This enables modular service delivery according to individualized consumer demands.

Insurance providers can increase consumer trust using the Financial Services Cloud. The result is personalized and unified financial experiences, with predictive AI to proactively up-sell to customers.

Wealth and Asset Management

Monitor financial accounts across multiple providers in different regions thanks to 360-degree visibility. Keep track of assets that are under your management, or that are held away in custodial systems. Understand top client relationships and uncover opportunities for growth.

Mortgages and Lending

The Financial Services Cloud increases speed and transparency during the mortgage process. It also promotes teamwork and collaboration to cultivate better employee relationships, improving satisfaction and well-being.

Proactively engage prospects at an earlier stage in the lending process. Track existing loans and lines of credit, and provide personalized advice according to circumstances.

How Secure is Salesforce Financial Services Cloud?

The Financial Services Cloud is secured by Salesforce Shield to proactively monitor user activity and enforce security policies. To provide additional protection, here are the three premium services that are included to enhance the protection, monitoring, and retention of critical financial data:

• Field Audit Trails – This allows enterprises to track audit trails in the field and understand who made what decisions in relation to customer accounts.s

• Platform Encryption at Rest – All data in Salesforce is encrypted at-rest. This means that without your master key and password, data is virtually impossible to crack for attackers. Technologies used are 256-bit AES in CBC mode and randomized 128-bit initialization vectors.

• Event Monitoring – This tracks every action taken by users in Salesforce, including clients, partners, customers, and employees. Track login, log out, URIs, API calls, exported data, and much more.

Salesforce Financial Services Cloud Pricing

To view a complete list of features, plus pricing options for various integrations, visit the Salesforce Financial Service Cloud pricing page.

How to Get Started in the Financial Services Cloud

Do you need help deciding which products, pricing, add-ons, or security features will provide greater protection and value? Trianz will carefully assess your regulations and compliance requirements to protect you against liability.

Our team of experts can help you design personalized and customizable financial service experiences that delight your partners and clients. This includes ongoing monitoring of your Financial Services Cloud environment, managed services to deploy custom features in partnership with our DevOps team, and data modeling and processing to get the right information into the system.