Salesforce- the powerful CRM designed with a 360-degree view of the customers provides a range of enterprise applications that focuses on automation, analytics, customer services, and more. With technological advancements, Salesforce has built solutions for diverse industry verticals accommodating their business needs and allowing them to maximize benefits while reducing expenses.
The BFSI industry is experiencing a seismic shift due to evolving customer preferences, technological progress, and pressure from different nations’ governments. All of these are forcing the BFSI industry to innovate and automate services with the help of digital transformation. CRM applications enable the BFSI industry to automate banking operations, insurance offerings, wealth management, and monetary exchanges to a large extent.
The CRM that’s most popular in the BFSI industry is the Salesforce financial cloud which helps financial service providers perform to the notch with complete visibility into customers’ profiles and every activity. It enables financial organizations to keep customers at the heart of everything they do from marketing and sales to new product design. Let’s understand the Salesforce solution for BFSI and its benefits in detail.
What is Salesforce financial cloud?
Salesforce financial cloud services enable delivering personalized experiences to users by connecting disparate data sources across departments and then connecting the dots through all communication channels.
The solution act as a one-stop shop to access data and insights in real-time into every stage of the customer lifecycle, which provides visibility into the journey of every customer that enables tailored interactions to help in earning customers’ loyalty and building trust. It helps in addressing regulatory compliance with secure access to clients’ profiles and the data related to interaction.
Salesforce consulting company provides a range of Salesforce consulting services that help you avail of the solution with easy setup, unlimited integration support, real-time data migration with zero data loss, live support, and live monitoring of data flow. Get connected with the Best Salesforce consulting company in USA to enjoy the best results.
How Salesforce financial cloud benefits BFSI?
Understanding the Salesforce financial services cloud solution doesn’t clarify the benefits that different industries under the BFSI umbrella will reap. Here we have described how Salesforce for finance works like a pro.
Benefits of Salesforce for wealth and asset management
Salesforce financial services cloud solution has transformed the way advisors work with relationship intelligence. With easy access to clients’ profiles and life events, the advisors can personalize the interactions centered around the client’s personal goals, which helps in bolstering the client relationship. Additionally, proactive alerts for events enable reaching out to the clients at the right time, which increases the chances of sealing the deal.
Thanks to the productivity tools that automate routine processes which provide enough time for referral tracking so that no opportunities get missed. The ability to connect with clients through any device allows advisors to engage the clients right at the moment on the right device they prefer to interact which helps in delivering the best experiences coupled with the best wealth management. Connect with a certified Salesforce partner to improve wealth and asset management.
Benefits of Salesforce for insurance companies
Insurance companies can exceed customer expectations catering to the unique needs of every policyholder by personalizing the interactions based on the 360-degree of the customers. The conversations are made more engaging when the Salesforce financial cloud solution sends smart alerts to the sales reps or agents for customers’ important life events and lets them access online social feeds and service requests.
The sales reps can work smartly on the leads by getting a single view of all the requests received through email, call center, social channels, or the web. It also helps them prioritize the leads based on urgency so that real opportunities are not missed and the best offer is recommended.
Policyholders are also empowered with self-service capabilities that allow them to access policy and claim tracking when they need it. Real-time interactions and SOS video chat from any device enable customers to get connected with the agent when they want. Salesforce consulting services help you empower policyholders and improve operational efficiency.
Benefits of Salesforce for capital market
Salesforce financial cloud solution is designed while keeping the unique challenges of capital market companies in mind. It helps companies get the best ROI with easy deal tracking, investor reporting management, security, compliance, and data governance. CRM enables companies to innovate faster and take results to the next level with AI-based tools and strong analytics program that provides rich insights.
Relationship modeling provides a broader picture of all the assets that are managed by the company. The custom solution for investment banking, real estate, private equity, and more are built by Salesforce consulting company with the help of Salesforce financial solutions.
Benefits of Salesforce for banking and lending
According to the connected banking customer report, “51% of customers found saying their bank doesn’t understand their financial preferences, needs, goals; 74% are not convinced that bank is interested in their personal financial goals; 62% leverage payment services from fintech companies. All of these challenges are addressed by Salesforce financial solutions.
Salesforce financial services cloud helps banking institutions to be the bank that their customers love with insightful, personalized journey creation. Retail banking can break the status quo with a digital banking experience that customers expect in real-time through any device. The relationship with premier customers is nurtured by leveraging rich customer intelligence into financial objectives, career milestones, personal goals, and preferred channels.
It enables mortgage brokers to deliver exceptional service across any channel with instant access to complete information. The complete view of customers’ details allows bankers to increase the suggestions for the range of banking solutions that customers need to meet their financial goals.
Bank’s operational efficiency is improved with the right set of tools to respond to customer queries rapidly. Digital management enables lenders to reach out the customers across multiple channels such as mobile messaging, social networks, and chatbots.
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Wrapping it up
Improved sales productivity, enhanced collaboration, and high ROI with data-driven decision making- is what the BFSI industry needs to take the services to the next level. The blog has briefed about the Salesforce financial cloud solution and its benefits for wealth and asset management, banking firms, capital firms, and insurance companies. Avail of the Salesforce solution to improve the business process efficiency and serve the customers better.
In this blog, we have just touched the tip of the iceberg. To know more about the Salesforce financial services cloud and how can you reap the maximum benefits, connect with a certified Salesforce partner that assists you in everything you are unsure about. Let’s talk!