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  • Writer's pictureAdam Curwin

Salesforce Financial Cloud Services

Think Salesforce is reserved only for sales and marketing teams? That's old news.

It's now become the go-to solution across the finance sector, too. Surprised? So were we at first. But believe it—it’s true.

Salesforce's Financial Services Cloud has been the talk of the town since its release in 2016. And let us tell you, it only got better with the recent expansion in 2021. Now, let's unpack the ins and outs of Salesforce for finance, shall we?

Why cloud services are game-changers for finance

Cloud computing in finance is revolutionary, whether you’re in banking, insurance, wealth and asset management, or another financial industry.

Cloud services in general—and Salesforce’s Financial Services Cloud (FSC) in particular—can offer you untold advantages. Most importantly, the Salesforce CRM for financial services gives you:

  • Efficiency: With all data in the cloud, you can effortlessly navigate client files and accounts; everything is in one place. Salesforce FSC also includes AI capabilities, which can further streamline your workflow by automating everyday operations and procedures.

  • Scalability: Like all cloud-based programs, cloud technology in banking and finance allows for unprecedented scalability. When you need more storage, you can have it in an instant. Implementing a new third-party product is a breeze. Ultimately, as you grow, FSC grows with you.

  • Personalization: Cloud services are powering a digital transformation in finance because they’re customizable—FSC users can easily tailor the platform to their liking. Personalization is also a pro for customers; in 2023, Salesforce introduced Personalized Financial Engagement, a solution that allows finance specialists to give customers specialized insights using AI and real-time data.

Don’t just take our word for these advantages—leading financial brands already enjoy the Salesforce Financial Services Cloud benefits.

Just look at RBC Wealth Management, the asset management wing of Canada's largest bank. This bank used FSC to elevate its team performance, simplify client onboarding, and stay compliant.

But that's just the tip of the iceberg. Insurance companies have been able to streamline policy management and claims processing with FSC, while wealth management firms are making a fortune with better portfolio management.

Exploring Salesforce Financial Services Cloud features

If you’re thinking about becoming a Salesforce success story of your own, you may be wondering about the various features of the Financial Services Cloud. Which functionalities will help you transform your operations?

Well, there are plenty of them—that’s one of the standout parts of FSC. However, along with the intuitive dashboards and reports, some of the most notable features include:

  • Audit Trail: In an industry where security is vital, Audit Trail is an incredible feature. With it, agents can dig into customer identity verification logs, look for identity fraud, and adhere to compliance standards.

  • Financial Plans and Goals: These FSC-specific objects are perfect for helping your customers reach their financial objectives.

  • Timeline: You can enjoy a chronological view of all customer interactions with Timeline. This visibility across departments gives you a holistic view of each client.

These helpful features, and many others like them, can help your financial institution reach its goals—whether those goals are improved client satisfaction, increased revenue, or smoother workflows.

Best practices for Salesforce implementation in finance

Of course, if you’re thinking about implementing cloud services in finance, it’s worth doing it correctly. After all, Salesforce implementation isn’t always a walk in the park; there’s a reason Salesforce experts-for-hire exist.

Although we suggest working with such experts when implementing Salesforce FSC, we can offer some advice for preparing for implementation:

  • Create an implementation roadmap: What are your business goals, needs, and challenges? By identifying your ideal finished state and any potential roadblocks, you can approach implementation, customization, and scalability without fear. A firm like us (wink, wink) can help with this as well.

  • Embrace change management practices: Your people will always be one of the biggest obstacles to change. Simply put, teams often hate change. For this reason, it’s best to start early with training and onboarding to reduce anti-change sentiments.

  • Think carefully about data migration: Whether you’re moving from another CRM or building from the ground up, you already have data. And that essential data needs to be moved to Salesforce FSC without crossed wires or outages. Again, a firm is well-equipped to help with this aspect of implementation.

Deepening financial customer relationships with Salesforce

Salesforce FSC isn’t just a tool for your business's financial side—it's a magical solution for customer insights and engagements. Imagine a world where every corner of your business is integrated into a harmonious experience.

That’s the beauty of Salesforce FSC—it integrates with typical Salesforce resources. Salesforce implementation specialists can help you integrate every corner of your business into a unified experience, which improves day-to-day life for your employees and customers.

In fact, Salesforce FSC is designed with customer satisfaction in mind, and many of its features will help in this regard. From the Action Launcher (which lets service agents respond faster) to Complaint Management (which ensures customer needs are taken care of), every aspect of FSC is customer-centric.

The evolving landscape of finance with cloud technology

Thanks to FSC and other finance-based cloud services, cloud computing has a bright future in the financial industry. By 2030, the global finance cloud market is expected to be worth $102.5 billion—more than double what it is today.

And let's not forget about Salesforce, which has been the #1 CRM for 10 whole years. With such a stellar reputation, Salesforce—along with the expert Salesforce teams that implement it—is perfectly poised to lead the charge toward even more growth in the industry.

How Skydog Ops fits in

If you're one of those organizations, fear not! SkyDog Ops is here to save the day with our top-notch Salesforce implementation services.

We specialize in tailoring our services to fit your unique business needs, so you can rest easy knowing that your company is in good hands. With our vast knowledge of Salesforce and the finance industry, we can help you take your business to new heights by embracing the power of cloud computing. Our services will help you increase revenue, streamline employee workflows, and put a smile on your clients' faces.

So why wait?

To find out more about implementing Salesforce FSC, contact us today.


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