Financial Services

Industry quick overview

Changing customer expectations, regulatory pressures, and technological advances shape today’s financial services industry. Financial organisations need to consider these factors and respond to changes on time. Despite this knowledge, many institutions within the industry struggle with fragmented data, operational inefficiencies, and increasing compliance requirements. Financial organisations must move beyond legacy systems to remain competitive and embrace connected, customer-centric solutions that increase engagement, efficiency, and trust.

Recognised challenges facing financial institutions:

Disconnected customer data does not allow for a unified view, essential for personalised customer service; many financial companies still operate on siloed systems.
Manual and inefficient processes, including slow approvals, redundant paperwork and compliance risks, reduce productivity and customer satisfaction.
Rising customer expectations for digital, seamless experiences, proactive financial advice and real-time interactions.
Competitive pressures and market agility mean banks, insurers and fintechs must innovate quickly to stay ahead.
Regulatory and security requirements include compliance with KYC, AML, GDPR, and other regulations.

Unified operations for greater efficiency and compliance

Salesforce Financial Services Cloud (FSC) is built to help financial institutions deliver smarter, more personalised, and regulatory-compliant customer experiences. The system allows front-office, middle-office and back-office functions, crucial in financial institutions, to be combined in one place.

The front office includes client-facing activities such as sales, advisory services, and customer support.
The middle office focuses on risk management, compliance, and data analytics, ensuring smooth operations and regulatory adherence.
The back office handles administrative and operational tasks like trade settlements, IT infrastructure, and financial reporting.

By integrating these functions, FSC enables financial professionals to enhance efficiency, improve client relationships, and maintain compliance with industry regulations.

Key features of Financial Services Cloud

360° client view and a centralised platform consolidating financial accounts, goals, and interactions.
AI-driven insights and machine learning-powered recommendations for proactive financial guidance.
Automated workflows, reduced manual processes and improved compliance with automated tracking
Collaborative tools to enable seamless communication between advisors and teams.
Compliance management with built-in security controls and audit-ready documentation.

Industry segments and their unique needs met by FSC

Banking & Lending

Banks and financial institutions use FSC to provide tailored financial wellness guidance, improve cross-sell opportunities, and streamline lending operations. With AI-driven insights, institutions can anticipate customer needs and automate complex processes like loan approvals, credit risk analysis, and wealth management recommendations.
Insurance (Property & Casualty, Life, Group Benefits)

Salesforce enables insurers to optimise claims processing, policy management, and agent workflows while enhancing customer satisfaction through real-time interactions. FSC provides a holistic policyholder view to improve underwriting, fraud detection, and personalised service delivery.
Wealth & Asset Management

With Salesforce Financial Services Cloud, advisors can enhance client relationships through goal-based financial planning, proactive risk assessment, and AI-powered insights. Wealth managers can track assets, liabilities, and investment performance all from one unified platform.
Fintech & Emerging Financial Services

Fintech firms leverage Salesforce to scale operations, manage embedded finance partnerships, and build highly personalised digital experiences that attract modern consumers.

Key technologies for financial services transformation

Automation and AI

To streamline onboarding, loan approvals, and claims processing to increase efficiency.
Data Analytics & CRM

To gain real-time insights to drive customer engagement and decision-making.
Omnichannel communication

To ensure connected experiences across all digital and offline touchpoints.
Security & compliance tools

to meet global regulatory standards with built-in governance and audit tracking.
Collaboration & integration

to utilise Slack-powered digital HQ to connect advisors, service teams, and underwriting professionals in real time.

How FSC benefits the daily experience of financial professionals and their clients

Personalised advisory at scale:

Deliver hyper-personalised recommendations based on real-time data.
Enhance collaboration between advisors, bankers, and service teams.

Automation & AI-driven efficiency:

Reduce administrative workload with automated workflows.
Identify new opportunities with predictive analytics and AI-driven insights.

Compliance & risk management

Secure customer data with encryption and role-based access controls.
Ensure industry compliance with automated regulatory tracking.

Omnichannel client engagement

Enable digital, phone, and face-to-face interactions.
Provide self-service options with AI chatbots and mobile portals.

How Salesforce solutions empower the financial industry

Service Cloud to enhance customer support
Marketing Cloud to launch data-driven marketing strategies
Sales Cloud to growth revenue and automate sales procesess

Exceptional customer service is key in the financial industry, where trust and reliability are crucial. Service Cloud offers tools that empower financial institutions to deliver personalised, efficient, and compliant support experiences.
- Omnichannel Service enables smooth customer interactions across phone, chat, email, and social media, ensuring a consistent experience across all touchpoints.
- AI-powered Agentforce helps automate routine inquiries with AI-driven virtual agents, allowing human representatives to focus on more complex customer needs and high-value interactions.
- Case Management streamlines customer service operations by automating workflows, intelligently routing cases to the right experts, and providing real-time case status updates.
- Knowledge Management helps centralise essential resources such as FAQs, self-service portals, and knowledge bases, empowering customers to find quick answers while improving agent efficiency.
Service Cloud
Personalised and data-driven marketing strategies are essential for sustainable growth and client retention.
- AI-driven insights help to create marketing messages tailored to each customer’s financial goals, transaction history, and risk profile. With AI, you can deliver highly targeted offers that increase engagement and conversion rates.
- Automated client onboarding guides new customers through a smooth, frictionless onboarding process with automated workflows, personalised welcome communications, and digital document verification, fostering long-term customer loyalty.
- AI-optimised marketing spend and predictive analytics help segment audiences, allocate resources efficiently and maximise ROI on every marketing campaign by precisely targeting high-value prospects.
Marketing Cloud
Technology allows sales teams to minimalise manual administrative tasks and focus on selling.
- Automated sales workflows, such as lead management, client follow-ups, and document processing, allow advisors to dedicate more time to nurturing client relationships and closing deals.
- Predictive analytics helps to analyse customer behaviour, predict future needs, and recommend the most relevant financial products or services, increasing deal closure rates and cross-sell opportunities.
- Scoring and lead prioritisation based on engagement level and conversion likelihood ensures sales teams focus on high-potential opportunities.
- Revenue forecasting with machine learning models to forecast sales performance, enabling strategic planning and data-backed decision-making.
- Automated reporting & performance tracking dashboards provide visibility into sales pipelines, key performance indicators (KPIs), and revenue trends, ensuring continuous optimisation of sales strategies.
Sales Cloud