What Is The Role Of Salesforce In Banking

The salesforce1 platform of Salesforce is available in the financial sector. Through this app, the company has tried to help the companies to manage their business through the cloud, connected apps, mobile and social platforms.

The referral and lead engine of this app are specially designed to identify the prospective client automatically across interaction of customer service reps, bank officers, lenders and sales and marketing teams.

It can scan the overall channels of the web, mobile and social environments and track and capture the leads. Through this feature, the banks can get a single view at one place of all prospective customers and can make and maintain the 1:1 relationship with them.

Today a number of financial services and banks are opting cloud-based CRM platform so that they can provide improved service to their customers. Even they can provide numerous financial services through this cloud-based CRM. Following banks are performing excellently after integrating Salesforce CRM:

  • ABN Amro (Private Client Wealth Management): Cloud CRM was adopted by ABN Amro to
    manage the wealth of its private clients, having a high net worth. Through Salesforce, it can get business intelligence capabilities and advanced dashboard. ABN Amro implemented Salesforce CRM, not to get the complete 360-degree view of its customers, instead of to offer and provide the right service to its right customer at the right time. Even now they can track the important life events like marriage anniversary or birthday or retirement day of their customers and provide them the suggestion, about when they should open the retirement account or follow any financial strategy or move into equity, bonds or funds.
  • Bank of Tokyo Mitsubishi: The bank is working with Salesforce CRM so that, it can work closely with the corporate clients with the help of the automated tools to manage the business forecasting and pipeline requirements and to offer commercial products to the customers. Even initially, it was a major concern for the bank, that how the CRM will be beneficial for the success of the bank and how quickly it will be adopted by its salespeople, but not only Salesforce provided the success in the banking business, but also take it to the highest level of success.
  • HSBC Wealth Management and Retail Banking: Bank adopted CRM to provide an interactive dashboard to its salespeople so that they can know how they are performing and what their peers are doing. Cloud CRM also helped the bank to improve its support operations, which lead to an increase in its productivity and user adoption and it also decreased the running cost of the bank. So to get the increased user adoption, the bank integrated Salesforce CRM and got all the benefits.
  • New York-based Asset and Investment Management Services: This one of the largest banks of the world, implemented CRM platform to provide a unified platform to its employees, especially in its wealth management, investment service destination and investment management departments. Through CRM, the salespeople can get a detailed description of the customers and so they can provide more focused services to them and thus can increase productivity. And manage the customer accounts in a well-organized manner. The banks can also maximize the wallet share by having a unified view of the products and services, used by its customers.
  • California Community Bank: Bank implemented the sales cloud for its loan origination services group to cut down the paperwork and identify the relevant prospects and leads, which may be excessive in the consumer loan case. After implementation of CRM in the banking, now the user has better tools to handle and manage the workflow properly and the sales people can have better insight of the service status.

Even a number of wealth management firms in Australia and New Zealand are providing a planner relationship model by implementing Salesforce Cloud CRM. To all of the above-listed organizations, Salesforce has not provided or replaced the existing back-end system, instead, it offered a better, managed and customized platform.

The single repository for all the information of customers, integrated with core and legacy systems are tailored specifically for the sales and marketing segments of the banks. Salesforce can provide a complete 360-degree view of the sales, service and marketing segments of the banking industry. It can help the banking industry in regulating its following task:

  • Lowering the cost of ownership
  • Automating marketing campaigns
  • Marketing Channel Expansion
  • Enhance Productivity
  • Automate Workflow
  • Mitigating the risk

Through Salesforce, banks can integrate the reporting and data tool to get better insights of its customers and thus they can deliver the highly consistent service to its customers, even across the globe.

Banks are using Salesforce CRM, to manage the retail or commercial banking, to manage the customer relationship, and to provide high quality and fast service. Banks can retain more clients through improved customer loyalty, even they can manage the customer’s portfolio and manage the core banking task easily.

Today, more and more organizations are increasingly looking to the Salesforce CRM, to boost revenue, returns of technology investment, productivity and customer satisfaction.

Leading cloud computing software of the Salesforce can provide the enterprises or business the powerful combination of software solution and boosting the sale or productivity.

Banks can be benefited with a number of Salesforce banking solution apps with which they can provide the personalized banking experience to their customers and boost the satisfaction of customers, with the help of its need-based business model.

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