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Salesforce Revolutionizing the Financial Service Industry

Rajat Kesarwani

By Rajat Kesarwani| Monday, August 12, 2019 16:05 PM | 5 min read


  • The 4th Industrial revolution is digitally transforming the finance industry.
  • Salesforce for financial services has opened up billions of opportunities in the finance, banking, accounting and other similar sectors.
  • Salesforce India is digitally transforming after the launch of their financial services vertical this year. It has introduced improved intelligence, integration and personalized competence.

Consumers are now constantly connected with their service providers with the help of the internet and smart devices. The booming financial services industry is changing the way people work and interact. BFSI (Banking, Finance Services and Insurance) companies deal with clients from every sector and Salesforce helps the companies by offering customer loyalty and experience excellence to their customers.

The Finance Service Sector is Driving Customer-Centric Innovation

Salesforce for financial services plays an important role in digitally transforming financial services. It deploys the most useful and effective technologies to improve the business processing.

“Salesforce India helps banks and financial institutions to enable a cohesive and personalised customer experience.” - Deepak Pargaonkar, VP- Solution Engineering, Salesforce India.

“Salesforce is investing a lot in the new-age technology of artificial intelligence, and analytics to churn meaningful information out of data generated, to provide it to the right stake holder at the right time, for better engagement with the customer. It is providing the customer success platform which allows organisations to connect with their consumers in a whole new way in the Fourth Industrial Revolution.” Pargaonkar added.

Anshu Kapoor, Head - Edelweiss Private Wealth Management said, “Our customer satisfaction scores are up from 78% to about 92% today. Our employee engagement scores are up to about 83%. 97% of client queries, concerns, and issues are resolved within the turnaround time that we are promising customers.”

Effectively Cater to Your Customers and build a Cohesive and Personalized Customer Experience Across all Departments with an Efficient Channel of Communication.

How has Salesforce for Financial Services help the BFSI Companies?

  • It offers robust new services and improved contextual engagement with each and every customer on a personal level.
  • Customized communication and target achievement according to the personal preferences, hobbies, habits and buying behavior of a customer.
  • Bankers can access customer profiles across any business line and also take decisions according to smart insights and identified opportunities.
  • Companies can now offer world-class service to their premier clients and serve their evolving needs. There is an increased lead conversion ratio and improved customers relationships.

Personalized Outreach, Proactive Insights and Excellent Business Strategies are Achieved with Salesforce for Financial Services

Importance of Salesforce for Financial Service Industry

The release of Salesforce finance cloud has revolutionized the way salespeople and advisors perform in the finance sector. Here are the two main importance of Salesforce finance cloud:

Features that are Specific to BFSI Companies: Users can use the traditional functions of a CRM and combine them with the finance cloud services. The service is customized for wealth managers. It offers a Person Accounts feature, which allows the contacts to be linked to specific accounts.

The Lightning Capabilities: Lightning capabilities are built in so that wealth managers can begin taking advantages of the service. Writing triggers for different data according to the clients is not required. Users also do not need to update anything to visualforce pages, as the data is going to be compatible with the new Lightning services.

Salesforce has always been helping businesses to adapt to new technologies faster so that actions taken are based on accuracy of data and up-to-date insights. The outcome of business decisions in the finance sector has never been better. The financial service CRM solution from Salesforce enables your bank/financial institution to deliver outstanding service to your customers and build trust and loyalty in business. The financial advisor software and more provides integrated sales, services and marketing solutions.

Rajat Kesarwani
About the Author Rajat Kesarwani is the CEO of Dreamstel Technologies. With over 15 years of experience in maintaining business relations with esteemed companies across the US and Australia, Mr. Kesarwani has earned an excellent reputation in the IT industry. He has been offering advanced technology services to businesses that require any kind of IT solution. His expert services at Dreamstel includes developing and introducing next-generation apps and spreading awareness about Salesforce. His objective is to reach out to companies in need of advanced technology solutions, and he has been successfully moving ahead in the right direction to do so, through Dreamstel Technologies.