What is Salesforce Financial Services Cloud?

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Salesforce Financial Services Cloud is a CRM system that caters to the financial services sector, providing customized workflows and data models to manage customer relationships effectively. Its purpose is to provide insightful information during every stage of a client’s lifecycle, making it an indispensable tool for businesses in the insurance, banking, mortgage, and wealth management industries. Compared to Sales Cloud, Financial Services Cloud offers industry-specific features aimed at delivering excellent customer experiences while offering valuable insights to help financial services companies grow and expand.

Who Should Use Financial Services Cloud?

Financial Services Cloud is a versatile tool designed for businesses in the financial services industry,





wealth management

However, any company providing financial services to customers can benefit from this platform. It leverages the Salesforce Customer Success Platform and offers features tailored to enhance client engagement and meet the needs of advisors. Financial Services Cloud empowers organizations to revolutionize the way they interact with clients and manage their finances, with capabilities such as comprehensive client and household views, improved client engagement and productivity, and efficient client data management.

Benefits of using Financial services cloud Salesforce

  1. Built-in customer Care and Relationship: Salesforce Financial Services Cloud offers various advantages to businesses, particularly in providing intuitive customer care and building strong customer relationships. It enables enterprises to meet customers’ needs by providing valuable advice, responsive communication, and round-the-clock support. By mapping customers with households, trusts, and professional organizations, businesses can identify high-profile clients and leverage their connections. The platform allows businesses to visualize and capitalize on new opportunities created by existing relationships and crucial information. Through Salesforce Financial Services Cloud, businesses can deliver a seamless and intuitive experience to their customers, enhancing customer satisfaction and loyalty.
  2. Enhanced transparency in financial accounts and aggregations: Cloud Financial Services provides a wide range of financial accounts, such as bank accounts, insurance policies, and investment accounts. Each financial account is associated with a predefined record type in the Financial Account object. This allows financial advisors to create tailored investment plans that align with their client’s financial objectives. By gaining complete visibility into their clients’ accounts and assets, advisors can provide informed recommendations for the most suitable products and services. With Salesforce Financial Services Cloud, businesses can offer personalized and effective financial services that meet their clients’ needs.
  3. Effortless notifications, monitoring, and approvals: Salesforce financial service cloud bridges communication gaps among team members by automating essential tasks and assigning them to the appropriate team members based on their profiles. This streamlines workflow and helps achieve specific goals. Through Lead Tracking in Financial Services Cloud, businesses can closely monitor leads and recommendations. Additionally, with a customized approval process, simplified document collection, and the ability to link financial accounts, clients, and families to cases, businesses can easily track their customers’ approval statuses. These features allow for efficient communication and collaboration among team members and ultimately contribute to providing exceptional customer service.
  4. Increase client engagement: Cloud Computing in Financial Services enhances customer engagement across all levels, from stakeholders to teams to end-users. Its advanced capabilities create new opportunities for businesses to engage with their clients digitally and offer exceptional customer experiences. Businesses can easily capture and showcase significant milestones in their clients’ personal and professional lives, such as the launch of a new product or relocation to a new place. Additionally, the platform leverages AI to provide reliable and insightful data, enabling businesses to make more informed decisions. With Salesforce Financial Services Cloud, businesses can create meaningful connections with their customers and build lasting relationships that drive success.
  5. Smart Reference Routing: It provides intelligent referral routing that directs referrals to the most suitable team members based on their expertise, ensuring that each customer is connected with the right person. This automated system eliminates manual effort and reduces response time, leading to better engagement and improved customer satisfaction. With Salesforce Financial Services Cloud, businesses can create a seamless referral process that streamlines communication, maximizes efficiency, and ensures customers receive the best possible service.
  6. Business Knowledge and Counsel Analytics: It equips financial advisors with the necessary tools to make informed decisions and drive growth for their clients. The platform’s analytics dashboard and data provide valuable insights into the financial services industry, enabling advisors to make data-driven decisions that lead to increased revenue. The pre-built templates and models are tailored for the financial services industry, providing instant access to relevant information and insights. With innovative Artificial Intelligence technology powering the analytics, the platform delivers accurate and dependable data that helps financial advisors make informed decisions. Overall, Salesforce Financial Services Cloud is an invaluable tool for financial advisors, providing the insights and data they need to provide their clients with the best financial guidance and advice.

How does FSC cater to the needs of various roles?

Wealth Advisors FSC streamlines administrative tasks and empowers advisors to effectively manage investment portfolios, providing personalized advice aligned with client objectives.

Bankers FSC facilitates seamless communication across diverse channels, delivering exceptional experiences that enhance customer satisfaction and yield positive returns on investment.

Insurance Agents FSC enables insurance agents to establish one-on-one connections with clients, offering guidance and proactive engagement during significant life events.

Server Operations FSC ensures smooth service operations by granting easy information access and resolving customer challenges through multiple channels and devices.

Business Executives By leveraging FSC, business leaders gain insights through core analytics, enabling them to measure business goals and empower marketing, sales, and service teams to strategize for growth.

IT Executives IT executives can enhance customer data and enable auditable interactions across various channels by developing secure enterprise applications that empower financial advisors to engage with clients.

Financial Services Cloud Salesforce empowers wealth managers, banking professionals, insurance advisors, business executives, and IT leaders to make smarter decisions, thus increasing their productivity. The platform’s robust features enable insurance agents to offer personalized products on various devices. It also provides streamlined service streams and the ability to track new opportunities, providing agents with a complete view of the pipeline. Salesforce FSC is equipped with all the necessary features to provide customers with an excellent experience and a seamless onboarding process. However, it is crucial to acknowledge that the success of a tool is dependent on its users. Therefore, it is equally essential to find the best Salesforce professional help. At Cynoteck, we offer comprehensive services, ranging from consulting to customization, to accurately translate your business objectives into the most relevant Salesforce capabilities.

Frequently Asked Questions (FAQs)

1. Is the information secure in the Financial Services Cloud?

Yes, of course, Rest assured that your valuable data is well-protected within the Financial Services Cloud. This platform provides advanced data security features that ensure multiple layers of protection for your information, along with the ability to track access and usage of the database.

2. What differentiates Financial Services Cloud from other wealth management tools?

Compared to other wealth management tools, Financial Services Cloud stands out by leveraging the CRM capabilities of the platform to provide streamlined services to clients. This client-focused platform prioritizes building strong relationships with customers and is tailored to meet their needs. It offers a wide range of financial services, from basic to advanced wealth management services, all with the aim of creating an exceptional client experience.

3. What is the difference between Sales Cloud and Financial Services Cloud? 

Financial Services Cloud encompasses all of the core functions of the Sales Cloud, with added custom fields and objects specifically designed to model financial accounts, goals, and liabilities for both individual clients and households. This eliminates the need for advisors to spend time and resources on adapting CRMs to fit their company’s needs.

For services, contact us at sales@kcloudtechnologies.com

For more information, you can schedule a demo call with us, by mail at contact@kcloudtechnologies.com

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