Salesforce Financial Services Cloud focuses on improving customer experiences and operational efficiency to transform the delivery of financial services. It is a game-changer for banks and other financial institutions that want to be known for exceptional customer service and efficient operations. It is also a great solution for organizations wanting to give their revenue a boost.
Here, we look at how integrating the Salesforce Financial Services Cloud into your operations can help solve key challenges and improve relationships with your customers.
Key Features and Capabilities
Before you hire financialforce developer offshore services to integrate Salesforce Financial Services Cloud into your operations, you would want to know the features and capabilities it will provide you with. Here is a look into some key features of Salesforce Financial Services Cloud that can address industry-specific needs.
360-Degree Customer Views
You can get a holistic view of customer data collected through different channels with Financial Services Cloud. It will allow you to understand and better serve your clients with a carefully thought-out financial advice.
Automation Tools
You can automate many of the routine tasks, such as managing transaction disputes and client data, by using by integrating Financial Services Cloud into your systems. It will free you up to focus on more important tasks and providing customers with high-value services.
AI-Powered Insights
One of the most valuable features of the Financial Services Cloud is that it uses artificial intelligence (AI) technology to provide insights into customer habits, operational workflows, and key challenges/painpoints. All of this is provided in real-time, allowing users to make informed decisions quickly.
Collaboration Tools
Like other Salesforce tools, the Financial Services Cloud features collaboration tools that allow collaborations across teams and functions. The collaboration tools allow everyone involved to stay updated with the happenings in real-time and take collective action in the best interest of the company and clients based on the available data.
Integration with Vital Banking Systems
You can get information in real-time and make decisions quickly using the latest financial data when the core banking systems are integrated into your operations. Salesforce Financial Services Cloud makes this possible.
Security and Compliance
A very important thing to consider before you hire Salesforce Development Company is making sure it can help you integrate Financial Services Cloud into your operations to protect sensitive financial data and ensure compliance with the applicable data security and regulatory standards.
Salesforce Financial Services Cloud does a very good job of safeguarding your client information. It puts in place several security measures to protect sensitive financial data and prevent it from getting compromised. It includes comprehensive audit trails that ensure accountability and transparency of processes. Moreover, the technology helps to streamline regulatory processes by automating compliance workflows.
Application in the Real-World
It is natural for you to not want to hire financialforce developer offshore until you have seen the successful application of Salesforce Financial Services Cloud in the real-world. There are several use-cases of the Financial Services Cloud including its use in managing insurance claims and wealth, optimizing Fintech tools, and addressing key pain-points in banking services.
Integrating Financial Services Cloud into your operations, after you hire a Salesforce development company for the job, has several benefits including:
- Improving customer experiences and satisfaction
- Gaining a competitive advantage in the market
- Increasing operational efficiency
- Driving revenue growth
Future Trends
Salesforce Financial Services Cloud already has many uses and functions but we can expect it to come with even more features in the future. Here are some of the functionalities we can expect to be part of future versions of Financial Services Cloud.
Blockchain Integration
Currently, you cannot integrate Salesforce Financial Services Cloud with Blockchain technology no matter how skilled the Salesforce development service you hire is. However, when you hire financialforce developer offshore services in the future, you can expect them to provide you with Blockchain integration as a standard feature.
When it happens, Salesforce Financial Services Cloud will allow you to make your operations even more secure and transparent. The result will be greater rapport with existing clients and a strong reputation in the industry to attract new business.
AI and Predictive Analytics
We can expect future versions of Salesforce Financial Services Cloud to have AI and predictive analytics capabilities. What does it mean for the financial institutions that use the technology? These institutions will accurately and intelligently make predictions about future financial events to make informed decisions based on insights in the best interest of their clients.
Challenges and Solutions
When you hire financialforce developer offshore services for Salesforce Financial Services Cloud integration, they may face some challenges in ensuring a successful integration. These challenges include issues in migrating critical data, resistance to change, and team lacking the training to use the technology.
The good news is that you can easily overcome these challenges by making sure you hire a Salesforce development company with expertise and experience in migrating data and workflows to the platform and by training your team to use the technology efficiently.
Also, a common query regarding Salesforce Financial Services Cloud is if its use can benefit small financial firms. The technology is meant for both large enterprises and small firms. So, no matter what the size of your company, you can scale the Salesforce Financial Services Cloud as per your needs and use it to improve your operations and customer experiences.
Cost of Implementing Salesforce Financial Services Cloud
A common question regarding Salesforce Financial Services Cloud is how much it costs to implement it. There is no straightforward answer here as the cost of implementing Salesforce Financial Services Cloud will depend on whether your hire financialforce developer offshore services or a locally-based company, and the scale and specific needs of your company.
The good news is that you can tailor the platform features to fit your budget as Salesforce offers Financial Services Cloud at various price points.
Final Word
Salesforce Financial Services Cloud is second to none when it comes to tools designed to improve operations, customer experiences, and compliance for financial institutions. If you are looking to hire financialforce developer offshore or want to hire Salesforce Development Company that can meets your specific needs, then Programmers.io is the perfect choice. We can help you successfully implement and use the Salesforce Financial Services Cloud.