Why should Financial Services Companies implement Financial Services Cloud?

February 16, 2022
Indranil Chakraborty

Salesforce Financial Services Cloud is software from the world's #1 CRM solution, reimagined for the financial services industry. Financial Services Cloud is an integrated platform designed to drive stronger, long-lasting client relationships. Financial Services Cloud is powered by Lightning, which makes it easier for advisors to deliver the personalised service that clients expect. Armed with the superior set of productivity and engagement features, advisors can spend less time gathering client information and more time doing what they do best-providing holistic, goal-oriented advice to clients.

With Financial Services Cloud, advisors can collaborate with clients from anywhere using any device. This enables them to build strong personal relationships with clients to facilitate key investment decision-making based on goals and life events. Consequently, investors can manage their wealth more smartly, and meet their financial goals.

Let’s look at the benefits you can derive from a Financial Services Cloud Implementation:

Transform Across Financial Services

Financial Services Cloud provides an integrated platform that can be tailored to any financial services organisation’s customer engagement model. Wealth Management, Insurance, or Banking – whatever your core business may be, Financial Services Cloud will empower your teams to deliver personalised advice to your clients across channels and devices.

Differentiate with Data Modelling

Financial Services Cloud has a unique Client Data Model at its center that allows companies to have access to all information required to strengthen client engagement opportunities. Strategic partnerships with best-in-class industry leaders make it easy to deliver superior service with portfolio rebalancing, custodian data services, and asset aggregation across all accounts. Additionally, Financial Services Cloud benefits from the continuous innovation by virtue of being a part of the Salesforce Platform, with multiple updates every year. This ensures you get access to new features and enhancements designed to fast-track your business growth.

Grow your Business

Financial Services Cloud allows you to track referrals, thereby converting your client base into an active referral network. Get a clear view of individuals who are key to cultivating new business. It gives you more insight into your clients on not just their investment strategy, and will empower you with all the networking tools necessary to grow your business.

Financial Services Cloud comes out of the box with all the core Sales Cloud features, and on top of that allows a great deal of flexibility and comes with customs fields and objects allowing advisors to completely customise the CRM while staying completely aligned with the direction and objectives of the firm.

Manage Compliance Effortlessly

When combined with Salesforce Shield, Financial Services Cloud offers a powerful bouquet of compliance functionality. Firms, advisors and agents can adhere to new regulatory guidelines. Now you can drive collaboration across teams effortlessly. Monitor and track client relationships and interactions. And launch coherent onboarding tasks to ensure the client's best interests are always prioritised.

Data Security

In addition to Financial Services Cloud, Salesforce Shield capabilities come integrated with an extra layer of security including tools that monitor access and usage and protect you against any malicious activity. You can get access to Event Monitoring, Field Audit Trail, and Platform Encryption to ensure your clients' financial account information is kept confidential and secure.

One doesn’t have to be a Salesforce expert to get up and running with Financial Services Cloud. Work with a trusted Salesforce Implementation Partner to build a complete solution that addresses all your business goals. Ensure scalability that promotes continuity in innovation.

Let’s look at what advantages Financial Services Cloud offers to any financial services role:

WEALTH ADVISORS

Meet your financial goals.

Managing meaningful client relationships while handling their complex investment portfolios can be quite a challenge. Financial Services Cloud makes it easier by drastically reducing routine administrative work and enables advisors to deliver smarter, personalised advice.

INSURANCE AGENTS

Become a trusted advisor.

The best-performing agents put their clients at the center of everything they do. With Financial Service Cloud, advisors can proactively engage clients during important life events such as retirement planning or a home purchase. Insurance professionals can utilize these opportunities for engaging with clients to earn their trust and lock in lasting loyalty.

BANKERS

Breakaway from the banking inertia.

Create experiences that not only improve customer satisfaction but also grow investment portfolios by seamlessly connecting all channels of communication. Financial Services Cloud helps banking institutions digitally transform engagements that customers love.

SERVICE OPERATIONS

Deliver long-lasting service.

Service operations can make or break retention. Financial Service Cloud makes it easier for agents to find information quickly and address customer requests promptly, across channels and devices.

BUSINESS EXECUTIVES

Bring your growth strategies to life.

Unique differentiation or superior customer satisfaction – whatever your goal may be, Financial Services Cloud helps sales, service, and marketing teams take action at the point of insight. Teams across your organisation can work smarter and faster with visibility into analytics and insight into quantified business objectives.

IT EXECUTIVES

Deliver more for less.

Drive productivity and satisfaction with apps built on enterprise-level security and empower advisors to engage with clients on any device. Scale the apps further with a highly scalable platform, integrated data services, and a powerful ecosystem. Also, with Salesforce Shield, IT teams can reinforce the protection of customer data and provide an auditable trail across channels.

We at Girikon understand that great technology alone is not enough to ensure success. Our Salesforce Consultants will support you throughout your journey of digital transformation to ensure that you become a financial service firm that clients love to work with.

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About Author

Indranil Chakraborty

Indranil is a technology enthusiast with over 25 years of experience in project management, operations, technology and business development. Indranil has led project teams in egovernance, business process re-engineering, product development and worked with Government and Corporate customers. Indranil truly believes in the power of technology to drive productivity and growth for teams and businesses.

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