Salesforce Unveils Beneficial Features for Retail Banking

2024-04-19 11:22:56 Technology

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Salesforce is a number one platform almost for every business venture. The financial capabilities and the features of Salesforce are launched so that the wealth management institutes, insurance providers, banks and other financial institutions can be benefited from it. Among other features, the two most important and beneficial ones are areferral and lead engine. These engines can help the banking organizations in tracking, identifying and nurturing the customers anywhere in the world, just by directly interacting withthem. Today, every bank is implementing CRM for better service and client relationship. The banks can easily identify the leads and new opportunities through CRM. This press release discusses the use of CRM for banking and financial sectors through its various advantageous features.

Salesforce Leveraging Retail Banking

Salesforce helps the financial organizations in managing their business using cloud technology. The cloud-based CRM scans mobile and social channels to identify the leads, it helps the retail banks to make 1:1 customer relationships.Now banks can be available anywhere and at anytime on any device. The client onboarding can be made easy and effective.
Retail Banking can be easily managed with the help of CRM. Salesforce launched the featured app, especially for the retail banking or financial institutions. The app is focused on the financial sector and many financial sectors have implemented these apps to ease their operations. The company has announced the beneficial cloud-based app. The representative of the company told that how the following clouds can be beneficial for the retail banks.

Salesforce Clouds Helpful for Retail Banking
Salesforce features, which are beneficial for the retail banking organizations, are generally implemented through its various clouds. The main clouds, used by the banking and retail sectors are following:

We will discuss the benefits of above-listed clouds one by one:

1) Marketing Cloud
For every business, including banking the main challenge is that mostly the main or important leads are ignored or are not followed up properly. By using a CRM banks can automate the customer journey and provide them more personalized services, in this way where they can achieve their targets, so the customers also become happier and satisfied by getting personalized services.
The leads can now be prioritized and managed centrally and followed up properly, in case of any discrepancy appropriate actions can also be taken. If any database entry is done wrong, then the banks can easily identify its source.

2) Financial Services Cloud

Through financial service, cloud banks can offer required and customized service to their clients. They can develop along-term relationship with their clients. As per the accounts maintained by the customers, the banks can offer them better and appropriate investment options and generate their business.

3) Sales Cloud

Many researchers have proved that if the leads are contacted within the first five minutes, then it can become a qualified lead. Through CRM the real-time information like account insights, intelligent alerts and performance charts can help the bank employees get the instant insight information about any possible lead and route them to the appropriate person. Moreover the bankers can now track their existing leads and update their pipeline as well.

4) Analytics Cloud

Through the Salesforce Analytics cloud, the bank employees can easily get the 360-degree view through their legacy system and Salesforce database and respond and serve them properly. Moreover, they can also know that which of the lead is may be beneficial for them and improve their service accordingly. They can provide and offer the satisfactory service to their customers and ease the mortgage and the loan process as well.

5) Service Cloud

There is live agent help available through which bank agents can provide improved and 1:1 service to their customers in no time. As and when they are informed about any problem, they can access the real-time information of their customers and provide them aninstant solution, in this way the administrative burden is also reduced.

Through the service console of CRM, the case can also be redirected to the appropriate or concerned person, and in this way, the response time is also getting reduced. The macros, similar cases, and their follow-ups can enhance the system?s performance as a result of which the agents can respond immediately to the customer?s queries.

6) Community Cloud

Through community cloud, the banks can directly approach their customers at any time and make a reliable and deeper relationship with their customers. Through community, the customers can interact with the bank employees and the bank employees can also respond them in real time. The customers can also make purchases in real time and share their opinion as well through the community cloud. Moreover, the information about any new scheme can also be provided instantly to the relevant customers and the loan community can help them to access all loan related information.

Final Words

In brief,Clientonboarding has not been an issue and even the banks can serve their clients in a better way with the help of available resources. The process can be accelerated easily and the customer satisfaction can be provided easily. Properly implemented Salesforce can help the banks in organizing their task and providing better service to their customers.