Five Reasons to Consider Salesforce for your Financial Services

Post Category :

Do you want to avoid scattered finance data from different sources? Is it difficult to bring your sales & marketing team together with your finance? Unable to get an accurate insight into your business due to inaccurate financial data? Do you need help merging your accounting system with your CRM?  Or, are you looking to dramatically change your all-over financial services? A service that is more personalized and more inclined to your customers’ individual goals? Salesforce can solve all these.

Salesforce brings a streamlined, automated, personalized, and simple solution for financial operations. Its Financial Service Cloud is breaking the barrier of only being useful for sales & marketing and showing huge prospects in finance too.

Present day, finance is a lot more than just crunching numbers. Whether your finance is a single human department or consists of a multi-disciplined team serving the requirements of an enterprise/organizationdigital transformation is the need of the hour. The Covid-19 pandemic demanded a fast, automated process as most organizations were pushed to shift their workforce and provide financial services remotely.

Salesforce is a well-known name, and it’s one of the market leaders for CRM. But where does a CRM fit into all of this? Here we will briefly discuss Salesforce’s integrated solution for financial services- the Salesforce Financial Cloud and its advantages for your business.

What is Salesforce Financial Cloud?

The Financial Cloud is a Salesforce CRM solution reconceptualized for financial services. It is an integrated platform to sustain long-lasting client relationships. Based on the Salesforce Lightning Experience, you can embed other Salesforce modules like Einstein Analytics and Einstein Bots, Salesforce Experience Clouds, etc., to your Salesforce Financial Cloud to provide customers with a more hyper-personalized experience. Here you can gather client requirements seamlessly, offer financial guidance, create self-service modules for customers, and much more.

Why Should You Consider Salesforce for Your Financial Services?

A consolidated view of your company’s real-time financial data helps you make informed decisions across the business. Salesforce Financial Service Cloud includes all the features of a general CRM and some additional perks.

Single Source of Truth

Are you banging your head around different paperworks and softwares to consolidate your financial data? Well, not anymore! Salesforce Financial Service Cloud has quick and easy access to real-time revenue and related data. It is helpful in making accurate predictions and calculative decisions. Based on this data, you can decide on the company’s budget and set your financial goals for the future. Another valuable feature of the financial cloud service is that it provides real-time insights into business travel costs.

Meanwhile, Einstein Analytics provides teams instant access to accurate insights that help them to measure the next steps. In a nutshell, it enables you to plan out your expenses and investments.


Now, getting your existing data into Financial Service Cloud is easy! Using Salesforce tools like Data Loader, your organization’s internal data can easily be transferred and mapped into the Financial Service Cloud. This process is robust and safe. Apart from that, many third-party CRM applications provide seamless two-way integration with Salesforce making your financial operations more accessible and convenient. 

For example, Dun & Bradstreet, a leading name globally for delivering mission-critical data and insights, integrates with Salesforce optimally by removing duplicates. The organization has access to nearly 420 million global business records, which can help create leads and accounts in your Salaesforce financial environment. The D&B Connect for Salesforce also provides every required detail of any business, like its location, industry, size, revenue data, or family hierarchy. All this information can catalyze your calculated overall business decision. 

Like D&B, many other company connectors can be integrated with Salesforce Financial Cloud, like AdvisorEngine, DiscoveryData, BlackDiamond, SmartRIA, Riskalyze, etc. All these connectors remove financial data silos and help to provide better financial and wealth management solutions for your organizations.

Customer Experience

In the era of fast digitization, customers expect everything to be at their fingertips and hassle-free. Forrester Research Blog, “The Future of Financial Brands: Less Financial, More Brand,” published in May 2020, shows that 66% of customers expect companies to understand their unique needs and expectations. Another Salesforce report in the same year shows that only 34% of companies generally treat customers as unique individuals. Customers want experiences and recommendations aligned with their individual needs. They expect 1-to-1 support across multiple channels with the fast resolution of their queries. Another Salesforce survey report reveals, “84% of customers say that being treated like a person, not a number, is very important to winning their business.” 

In this scenario, hyper-personalization is the key. Various Salesforce services provide personalized solutions. Customers can serve themselves with the self-service modules. For example, through Salesforce Experience Cloud, customers can check their accounts, pay bills and get answers in real-time. 

On the other hand, Einstein Bots responds immediately to customers’ routine queries and closes issues. The Financial Service Cloud even has automated facilities for loan origination and processing.

Customer 360-degree View

The key to hyper-personalization is data- not only the scattered information in bits and pieces but a complete 360-degree view of customer data sales, marketing, and services. These data will help to create individual financial goals and unique services for each customer. Teams can visualize customers’ lives’ actual events and milestones using the consolidated data in Salesforce Financial Service Cloud. It helps to drive more personalized services to the customers. For instance, if a customer is purchasing a new home, planning for their retirement, or preparing for college fees for their children- your team tracks all this data and proactively personalizes the financial advice.

Bridge the Gap

You can bring your multi-disciplined teams together using the Salesforce Financial Cloud. A Salesforce survey published on Cloudflare CDN CFO segment shows that 67% of the participants in the survey believe that constructive coordination between the sales and finance team can improve forecasting and maximize revenue growth. Moreover, 80% think that a collaborative way of work for sales and finance could benefit both sectors of an enterprise. Salesforce helps finance and sales teams collaborate by seamlessly exchanging customer data, allowing them to make their own decisions. In other words, it ensures that everyone is on the same page and has a real-time understanding of how financial decisions affect customers and improve business results.

In the End

With customer experiences in focus, financial service companies must take action quickly to convert their traditional transactions into customer-centered conversations. The recent pandemic has significantly increased the importance of wellness initiatives. A Salesforce survey in 2020 shows that companies focus on clients’ financial well-being by 74% and overall well-being by 73%. Another essential criterion is personalized services. The “’State of the Connected Customer” report from the company in the same year shows that 52% of customers expect companies to consistently provide customized offers. Salesforce’s integrated, user-friendly interface can quickly solve your finance service problems, and this is the need of the hour to bring a paradigm shift to your financial services.

How Can We Help You?

You need an expert to understand your pain points and provide the best solution to your requirements. In VE3, we have worked extensively with Banking and Fintech companies to help them with Digital Transformation according to their needs. We are equipped with the best Salesforce professionals who’re experts in their area of knowledge and implementation and consultants whom you can count on. We can bring you an innovative solution to your problems and accelerate the game-changing transformation that would elevate your business.

To know more, contact us here.


Like this article?

Share on Facebook
Share on Twitter
Share on LinkedIn
Share on Pinterest