The global financial services industry covers a gamut of verticals, including banking, investment banking, insurance and wealth management to name a few. No wonder, all of these verticals need to be professionally managed in order to make them profitable and growing. A good financial services CRM won’t just streamline and automate these processes, but also add value to the existing client portfolio in myriad ways. Salesforce Financial Services Cloud is one such CRM package that brings standardization and customer satisfaction to the world of financial services.

Integrable with the core Salesforce cloud CRM, the financial services cloud lets you leverage the power of data, intelligence and apps to derive maximized benefit for your financial services portfolio. Whether it is accounting or credit risk management, financial services cloud covers it all for you under a single umbrella and single subscription. We take a look at how the Salesforce Financial Services Cloud comprises of a vast architecture of financial management along with the accompanying smart algorithms and intelligence, and that how it can add value to your existing portfolio.

The modus operandi of the financial services cloud is as follows.

1. Data: This layer of the cloud introduces you to the world of virtually endless yet manageable financial numbers. Having features such as multitenant architecture, data services, API services and customer data, the data layer lets you store and manage all your numbers with ease, whether related to securities, commodities, forex, derivatives, options, accounts, insurance or for that matter anything else within the gamut of financial services.
2. Intelligence: While the data layer lets you store and retrieve your data in a secure manner, the intelligence layer allows you to manage that data and work on it with ease, so that you get relevant analytics and business insights out of it, that, in turn, help you make smarter business decisions. Einstein Analytics intelligence, as it is called, learns from all the information stored and processed in the platform’s data layer. You leverage upon an advanced set of data filters, algorithms, reports and dashboards to get the very information you want, so you can continue to focus on your core business.
3. Apps: Existing applications make your business more successful, and your advisors and personal bankers more productive. They help break down company silos and improve the customer experience. Apps, whether core or added on, allow you to leverage upon the power, the scalability and the security of the cloud, while also allowing you carry out the specific app function in a lucid manner. Think of apps as function-specific or vertical-specific; in case you have a diverse financial services portfolio comprising of bank accounts, credit, insurance, securities and property, there can multiple apps, one each dedicated for the individual elements of your portfolio. And then there can be an umbrella app showing you combined analyses and results on a real-time basis.

Financial Services Cloud is an integrated platform designed and deployed to drive stronger client relationships through its targeted set of interventions and management frameworks in the financial services space. Powered by features such as Lightning and Einstein, financial services cloud makes it easy for consultants and advisors to deliver a concierge level of service with the personalized, pro-active advice clients expect. With an enhanced set of engagement and productivity features, advisors can spend less time gathering client data and information, and focus on providing holistic, goal-based professional advice that puts their clients at the centre of everything they do.

The cloud creates a seamless, unified experience to promote more personal client engagements in the sensitive financial services industry vertical. With a unique client data model at the centre, you have access to all the requisite client information and deliver superior service with portfolio rebalancing, custodian data services and asset aggregation across all accounts. You also get ongoing access to new features, integrations, upgradations and enhancements designed to grow your and your clients’ business faster.

The benefits of financial services cloud are as follows.

1. Systematized financial portfolio management: The cloud gives you both a bird eye’s view and an intricate level detail of each customer activity and related data point on a simultaneous basis. Same holds true for your internal activities associated with the portfolio. Effectively, you extend a systematized portfolio management service to your clients.
2. Meticulous, timely and accurate advisory: You leverage upon the intelligence of the financial services cloud to offer accurate advisory to your client with immaculate timing. Be it bank account management, stock to invest in, property to sell or insurance to buy, your precise consultation covers it all.
3. Value-based asset management: A financial services portfolio is ultimately a strategic collection of diversified assets. The cloud not just helps you in determining the proportion in which each of your client assets should exist, but also lets you derive maximized value out of each asset for your client.
4. Risk mitigation and wealth maximization: Each financial and investment transaction carries an inherent element of internal and external risk associated with it. Once you’ve taken care of the risk part through data driven timely interventions, your next imperative is to maximize the wealth that your client holds. Again, Salesforce Financial Services Cloud helps you do that for your client through your insightful advice topped up with tactical tips from time to time.

All in all, Salesforce Financial Services Cloud is a must-have CRM solution for all financial and investment advisors. Salesforce.com being a world’s leading CRM platform, this cloud solution is bound to amaze you and your clients with its bouquet of innovative and pragmatic features.

ABSYZ is a leading Salesforce consulting and implementation partner that has extensive experience of dealing with financial services cloud across its clientele. Our time-tested approach to cloud consulting has worked wonders to our finance clients.