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Salesforce Reimagines Customer Service with All-New Financial Services Cloud Features

In the financial services sector, providing top-notch experiences isn't just best practice — it's an outright imperative. Customers are no longer content to make do with fragmented or subpar services; they demand personalized, empathetic experiences that genuinely delight them. However, meeting these increasingly lofty expectations is often easier said than done, especially in a time when streamlining costs has become a must. 

Fortunately, a solution may just be on the horizon. In recent months, Salesforce has taken major strides to bridge the industry’s experience shortfall by building upon its already-invaluable Financial Services Cloud platform. By expanding upon its CRM’s core capabilities, Salesforce intends to empower digitally-minded organizations in banking, wealth, and insurance to (re)define their brands, cultivate loyalty, and deliver exceptional value to their consumers.

An Expanded Financial Services Cloud Maximizes Functionality

Salesforce began developing Financial Services Cloud when it became clear that industry organizations would need to embrace automated, connected, and — most of all — personalized experiences to thrive in the modern market. The original platform delivered remarkable value; per a 2021 survey of 1,108 customers in the Financial Services industry, businesses saw an average 28% increase in customer satisfaction after implementing Salesforce’s Financial Services CRM, Client 360. 

Now with its recent functionality additions, the platform is even better equipped to empower financial service providers. This new-and-improved solution leverages AI and automation to help teams distill critical insights, deliver exceptional service, and maximize operational efficiencies — regardless of whether they deal directly with customers, underwrite loans, or manage administrative duties like human resources.

Taken together, these enablements can give organizations the lift they need to rise above their competitors, achieve new operational efficiencies, and reimagine top-tier customer service for the digital era. With Financial Services Cloud, service providers can:

  • Establish a Fully-Connected, Omnichannel Platform: With Financial Services Cloud, businesses can architect unified customer experiences by bridging voice, self-service, messaging, chat, and core banking functionalities into a seamless whole. Clients can achieve the service they need whenever they need it and via any device they prefer. 
  • Achieve a Comprehensive Customer View: The platform integrates all client data to provide a 360° view of customers — from their account information to their financial history and current support tickets. This accessibility, paired with Financial Services Cloud's real-time collaboration tools and guided banking flows, gives reps the support they need to facilitate empathetic, well-informed engagement. 
  • Superhuman Service: Financial Services Cloud orchestrates high-value interactions so consumers can access the degree of support they need on-demand. The platform's self-service offerings empower customers to resolve manageable issues themselves (e.g., by reading FAQs or chatting with AI helpers), thus freeing representatives to give their full attention to more complicated cases.
  • Empower with Automation: Financial Services Cloud’s AI-powered workflows and contact center facilitates employee collaboration and streamlines the entire financial customer journey, from roaming the company website to creating a bank account to resolving customer issues. The platform further unifies data and rules from all systems to streamline the management of complex regulatory processes. 

In addition to its CRM foundation, the platform incorporates several leading software solutions, including Mulesoft (for system and data integration), Tableau (for real-time analytics and decisioning), and Slack (for employee communications and collaboration). This preemptive bundling maximizes platform functionality, allowing organizations to achieve greater functionality at an affordable cost. 

In short — Financial Services Cloud has been designed to provide the digital framework necessary to deliver best-in-class omnichannel experiences at scale, so businesses never fall short of customer expectations. At Gerent, we look forward to playing a role in this empowerment; as a Strategic Launch Partner, we have the honor of helping Salesforce roll out its new offerings to innovation-minded clients. 

Setting Up Financial Services Cloud to Build Lifelong Customer Relationships

The Gerent team couldn't be more excited about Financial Services Cloud’s improvements — and, in our opinion, we have reason enough for enthusiasm. After all, this elevated platform provides exactly the kind of comprehensive functionality that we strive to develop for our clients every day. With Financial Services Cloud, we foresee innovation initiatives becoming more effective, extensive, and empowering than ever before. 

"We recognize the value a platform like this can provide for financial services organizations." said Pamela Hannett, Gerent's Financial Services Practice Lead. "It can give them the tools they need to empower their employees to provide service that sets the foundation for lifelong relationships."

"This is a big deal, and make no mistake about it,” she concluded.

With 100+ years of combined experience and 200+ completed projects, Gerent is well-versed in the challenges of creating exceptional experiences in financial services. We specialize in empowering organizations in banking and lending, capital markets, and wealth and asset management; our expert consultants dedicate themselves to developing blueprints that guide our clients through iterative, MVP-based initiatives that deliver transformational value. 

"Our ethos in Gerent's Financial Services Practice is to craft solutions that empower financial service organizations to put customers at the heart of everything they do," Hannett said. "These expanded capabilities will help us advance that mission and empower our clients to achieve more with Salesforce." 

We look forward to leveraging Financial Services Cloud on our clients' behalf — and are proud to serve as Salesforce's partner in the roll-out process. 

To learn more about Financial Services Cloud or connect with one of Gerent’s Financial Services solution leaders, please contact us

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